Ghana | - Part 2

Ghana Is Said to Name Citi, Three Others to Market Eurobond

ACCRA (Capital Markets in Africa) – Ghana appointed Citigroup Inc., JP Morgan Chase & Co, Bank of America Corp. and Standard Chartered Plc as head arrangers to market an upcoming sale of Eurobonds, according to two people familiar with the matter. The West African nation also named Accra-based Fidelity Bank Ltd. and IC Securities as co-arrangers, said the people, who asked not to be identified because they’re not authorized to speak publicly about the matter. Ghana…

This Is What Africa’s Central Banks Are Debating This Month

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Central banks in five major sub-Saharan African economies are scheduled to announce their interest-rate decisions in the next three weeks, including Nigeria if lawmakers get around to approving Monetary Policy Committee nominees. Slower inflation and more stable exchange rates have built a case for looser monetary policy in Kenya, Ghana, South Africa and Nigeria. Economic growth near 1 percent in South Africa and Nigeria, which make up half of…

Ghana Cocoa Board Ex-CEO Charged for Causing Losses to State

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – The former chief executive officer of Ghana Cocoa Board, Stephen Opuni, has been charged for causing financial losses to the state during his tenure as head of the regulator, according to a justice ministry official. The charges against Opuni, who was fired by President Nana Akufo-Addo in January 2017, were filed Wednesday at the High Court in Accra, the capital, Joseph Addo, a spokesman for the office of the…

Ghana President Tells Lenders to Reduce Their Interest Rates

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana President Nana Akufo-Addo said the country’s banks should cut their lending rates for clients. Lenders are failing to pass on lower rates from the central bank and are standing in the way of economic progress, Akufo-Addo said Wednesday in an emailed copy of a speech he delivered at the Ghanaian unit of Ecobank Transnational Inc. in Accra, the capital. While the Bank of Ghana has reduced its key rate by 550…

UniBank Clarifies MD After Confusion Over Ghana Bank Deal

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – UniBank Ghana Ltd. said it is not buying the country’s Agricultural Development Bank Ltd. as it clarified comments by its top executive on Wednesday that were interpreted even by regulators as a takeover offer. UniBank Managing Director Kwabena Duffuor told an Accra-based radio station that Belstar Capital Ltd. is leading a group of shareholders who have pledged to sell 53 percent of their holdings in ADB, as the agricultural…

Takeover Bid by Ghana’s UniBank in Doubt as Regulator Balks

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – UniBank Ghana Ltd. agreed to buy a controlling stake in Agricultural Development Bank Ltd. from a group of exiting investors in a deal that still needs to win support from the country’s central bank. The planned takeover comes as lenders in Ghana scurry to meet an end-of-the-year deadline to bolster their capital buffers. The new rules are part of a government effort to create stronger banks better able to…

Ghana President Seeks to Barter Bauxite for Roads, Bridges

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana will finalize details of an infrastructure program before the end of the year and will pay for it with refined bauxite, said President Nana Akufo-Addo. The West African nation is seeking to derive more value from its bauxite resources by expanding the country’s processing capacity. Last year, Ghana said it signed an agreement with China that may culminate in the development of a $10 billion bauxite venture that will include the…

« 1 2 3 4 … 37 »