Ghana | - Part 14

In Turbulent Region, Stable Ghana Heads for Tight Election

ACCRA (Capital Markets in Africa) – Since the end of military rule more than two decades ago, to many Ghanaians presidential elections have become routine: a close race between the two main parties and disputes settled in court. While two of its West African neighbors have teetered on the brink of civil war and a third, Togo, has been ruled by the same family for 49 years, Ghanaians have come to take their nation’s political…

SimbaPay launches mobile money transfer service to Ghana and Uganda

Posted on by The Editorial Team

LONDON, United Kingdom, December 5, 2016/ — SimbaPay (www.SimbaPay.com) – a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will…

Ghana central bank reduces policy rate by 50 bps to 25.5 pct

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana’s central bank reduced its main policy rate by 50 basis points on Monday to 25.5 percent, which Governor Abdul-Nashiru Issahaku said reflected a better outlook for inflation and the need to boost growth. The first interest rate cut since July 2011 could herald further reductions next year as inflation, which for years has stood above government targets, begins to fall at a faster pace, according to economists. It is…

Ghana Selling Longest-Maturity Debt Yet to Help Deepen Market

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana is selling its longest-maturity local-currency bonds yet as the West African country looks to deepen capital markets and diversify its funding profile. The government is planning to sell as much as 200 million cedis ($50 million) in a book-build on November 10, the Finance Ministry said in a statement on its website. Initial price guidance will be released on Nov. 7, it said. Ghana’s longest-duration domestic existing debt…

Ghanaian microfinance institution attracts investment from Goodwell Investment

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Goodwell Investments, through its fund Goodwell MDC III, has invested in Innovative Microfinance Ltd. (IML), a microfinance institution operating in Northern Ghana. The investment will help IML extend its reach with 5 additional branches in the Northern, the Upper East and the Upper West Regions. IML aims to become the leading microfinance organization supporting micro enterprises in these poor, rural areas, where financial inclusion rates are very low. IML…

Ghana govt says revises 2017 GDP forecast down to 7.0-7.4 pct

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ACCRA (Capital Markets in Africa) – Ghana is revising its forecast for gross domestic product growth in 2017 to 7.0-7.4 percent from a previous forecast of above 8 percent, Finance Minister Seth Terkper said on Monday. Government spending remains within targets set by the International Monetary Fund under a three-year programme to stabilize the economy, despite an approaching Dec. 7 presidential election, Terkper told reporters. “Expenditures are within the IMF programme targets …. We are…

Synergy Capital Managers invests in Ghanaian multiproduct company

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Synergy Capital Managers (Synergy), through its Synergy Private Equity Fund (SPEF), has completed an equity investment in Vester Oil Mill Limited Ghana (Vester), a multiproduct company producing oilseed meals and oilseed crude oils including soybean, palm kernel nut and Copra (dried coconut kernel). Vester is one of the top five seed oil mill operators in Ghana evolving from a small scale processing plant in 2002 to a 50MT daily…

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