BUSINESS

Ecobank Transnational Incorporated (ETI), the Lomé-based parent company of the Ecobank Group, has said that it has successfully raised US$350 million tier-2 sustainability notes. This represents the first ever tier-2 sustainability notes by a financial institution in Sub-Saharan Africa. This tier-2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and ...

Ghana has asked the International Finance Corporation (IFC) to increase the funding it offers private enterprises in Ghana from the current $5 million to between $15 million and $20 million per business. The Minister of Finance, Mr Ken Ofori-Atta, who made the call, also asked the corporation to raise the level of investment committed into core sectors of the economy, ...

Ghana Cocoa Board (COCOBOD) will plant over 1.6 million forest trees in the 2020/2021 cocoa crop year on cocoa farms across the country as part of its National Cocoa Rehabilitation Programme. COCOBOD is embarking on the rehabilitation program to replace about 40% of the country’s cocoa tree stock which are either overaged or affected by the Cocoa Swollen Shoot Virus ...

Springfield Exploration and Production Limited says its attention has been drawn to various print and electronic media publications on the topic of the unitisation of the Afina and Sankofa fields, with statements attributed to Eni Ghana Exploration and Production Limited as well as to ACEP, PIAC and IES. It said the publications contained some inaccuracies and innuendos, which have made ...

The Government of Ghana and the International Finance Corporation (IFC) are to hold a retreat. A statement issued by the Ministry of Finance made this known. According to the statement, the two-day retreat aims to discuss ways in which resources could be aligned to critical areas under the Ghana CAREs Obaatanpa Programme. It said the retreat will be held from ...

The President, Nana Addo Dankwa Akufo-Addo, has announced that the next phase of Ghana’s waste management is to convert trash to energy. He indicated this will add to Ghana’s energy capacity and also ensure the realisation of clean Ghana agenda. According to him, the government has provided an enabling environment through the Public Private Partnership (PPP) to make this work. ...

Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading Pan-African banking group with banking operations in 33 countries has notified the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières that it is seeking to raise US$300 million from the international debt capital markets through the issuance of tier-2 qualifying Sustainability ...

Dr Papa Kwesi Nduom’s party, the Progressive People’s Party (PPP), has tackled the Governor of the Bank of Ghana, Dr Ernest Addison, for saying a recent suit by US-based company Birim Group LLC against Groupe Nduom, the parent company of GN Bank and Dr Nduom’s family, is a vindication of the central bank’s clean-up exercise which resulted in the collapse ...

United Bank for Africa Plc (UBA) and DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH, the German Development Finance Institution – recently signed a USD 50m Term Facility Agreement. The facility has a tenor of six years and supports UBA’s lending activities to small and medium entities and family-owned businesses in the Federal Republic of Nigeria. UBA is a leading pan-African financial ...

THE AFRICAN Development Bank (AfDB) Group and Ghana’s Securities and Exchange Commission (SEC) have launched a $400,000 project to strengthen the development of Ghanaian capital markets. This follows the signing of a grant agreement to develop a risk-based supervisory solution for the local capital market. The grant, from the African Development Bank’s Capital Markets Development Trust Fund, will finance the ...