Business in Ghana

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Archive for November 14th, 2010

Kosmos submits Declaration of Commerciality to Ghana, Tullow to issue 4 million shares on GSE

Posted by Business in Ghana on November 14, 2010

By Emmanuel Dogbevi, Ghana Business news

Kosmos Energy, one of the stakeholders in Ghana’s Jubilee oil field where Ghana’s first commercial production of oil is expected in December has submitted a ‘Declaration of Commerciality’ to the Ghana government. The Declaration, it says is for the southeast Jubilee area. And Tullow Oil plans to issue four million shares on the Ghana Stock Exchange (GSE). Read the rest of this entry »

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More Bonds Needed

Posted by Business in Ghana on November 14, 2010

Ghana’s economy is 75 percent bigger than previously calculated, the country’s Statistical Service said, slashing the relative size of the fiscal deficit and the current-account shortfall.

The West African nation’s gross domestic product this year is 44.8 billion cedis ($31.2 billion), compared with the previous estimate of 25.6 billion cedis, Grace Bediako, head of the Accra-based agency, told reporters today.

“The revisions will be a huge positive for the relative risk matrix” of Ghana, Stephen Bailey-Smith, an analyst at Standard Bank Plc in London, said in a note to clients. The changes “should foster a rating upgrade.” Read the rest of this entry »

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Ghana is the Global Top Reformer in Improving Access to Credit

Posted by Business in Ghana on November 14, 2010

and still Overall, the Easiest Place To Do Business in West Africa.

Ghana has established Africa’s newest centralized Collateral Registry and by improving credit information and legal rights through granting an operating license to a private credit bureau, the West African country led the world in making it easier for businesses to obtain credit.

This is a finding of Doing Business 2011:  Making a Difference for Entrepreneurs, the eighth in a series of the flagship annual reports published by IFC and the World Bank benchmarking the regulations that enhance business activity and those that constrain it.  The report presents qualitative indicators on business regulation and the protection of property rights for 183 economies _ from Afghanistan to Zimbabwe.  The data are current as of June 2010. Read the rest of this entry »

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Remittances to Africa Resilient Despite 
Global Financial Crisis _ World Bank Study

Posted by Business in Ghana on November 14, 2010

Ghana-bound flows to rise modestly in 2010

Remittance flows to Sub-Saharan Africa will reach US$21.5 billion this year after a small decrease in 2009 due to the global financial crisis, according to Migration and Remittances Factbook 2011, a World Bank publication that tracks documented private transfers of funds and migratory patterns around the world. Read the rest of this entry »

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Ghanaian Technology Enterprise Boosts Africa in Prestigious Global Contest

Posted by Business in Ghana on November 14, 2010

After pitching their security innovations to a panel of judges before a live audience of investors, industry, government, VCs and peers, mPedigree and iWebGate have been awarded prize packages totalling $500,000. This followed a rigorous selection process lasting months, in which hundreds of hopeful innovative companies were narrowed down to 7 contestants in a climactic showdown at the University of London. Read the rest of this entry »

Posted in Franklin Cudjoe, Science and Technology | Tagged: , , , , | Leave a Comment »