Kosmos Energy acquires additional Ghana interests for US$550m

GHANA – Kosmos Energy and Ghana National Petroleum Corp. (GNPC) have agreed to acquire interests in Tullow-operated Jubilee and TEN fields offshore Ghana from Occidental Petroleum Corp., Houston for US$750 million. Combined, the assets had a second-quarter 2021 net production of 22,000 boe/d. In a US$550-million deal that closed October 13, 2021, Kosmos gained an additional 18% interest in Jubilee field and an additional 11% interest in TEN fields. The deal increases Kosmos’ interests in Jubilee to 42.1% and in TEN to 28.1%. Consideration due to OXY at completion was…

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Ghanaian Roberta Annan launches US$115m fund for fashion entrepreneur in Africa

GHANA – Ghanaian businesswoman and entrepreneur Roberta Annan launched a €100 million (US$115.59m) fund to channel investment into small and medium African creative and fashion enterprises in Africa. The Impact Fund for African Creatives (IFFAC) will award grants of up to €50,000 (US$57,793) to selected projects to accelerate development of the continent’s creative sector. The fund was launched during Paris Fashion week and was attended by fashion industry experts. The Africa Investment Forum, a flagship initiative of the African Development Bank, aims to channel investment into Africa. Annan, who also…

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GCB Bank Limited launches new branch at Tema Metropolitan Area

GHANA – GCB Bank Limited (GCB), a banking company, has opened a new branch in the Community 25 of Tema Metropolitan Area of the Greater Accra Region. This is in response to the growing business population, opportunities and for the convenience of businesses and customers in the environs. The new branch is located within the Tema Community 25 Shopping Mall and will offer banking services to customers and residents in the area. “We can all heave a heavy sigh of relief as we bring to an end the long and…

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Tullow Ghana, Invest in Africa to empower its SMEs suppliers who were affected by COVID-19

GHANA – Tullow Ghana, an oil and gas explorer and producer, has partnered with Invest in Africa (IIA) to deliver training to a number of its small and medium enterprises (SME)suppliers as part of the Access to Finance programme. The Access to Finance programme is an eight-month long programme, to be delivered in two parts, designed to equip selected suppliers with the requisite knowledge, skills and support to effectively engage with financial institutions in the areas of refinancing, restructuring of existing funding arrangement to improve liquidity. The programme is designed…

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German solar company Ecoligo acquires Namene Solar West Africa

GHANA – Ecoligo, a German solar utility that provides low-cost solar energy to local businesses in emerging markets, has announced the acquisition of the solar power projects for commercial and industrial customers (C&I) of Namene Solar West Africa. The company remains a wholly owned subsidiary of the Namene Group. There is movement around the commercial and industrial (C&I) solar power providers in West Africa. German company Ecoligo is acquiring the C&I division of Namene Solar West Africa, the subsidiary of the Namene Group. The Accra (Ghana) based company is selling…

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Delivery platform Glovo to debut in Ghana and Tunisia following its expansion plan

WEST AFRICA – Glovo, a leading multi-category delivery platform, has recently announced the expansion of its operations in Africa, to include Ghana and Tunisia, bringing its current operations to a total of seven countries on the continent. Glovo app is already available in Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire and Nigeria, bringing its services to more than 40 cities, more than 300,000 users, 8,000 restaurants and 12,000 couriers. Glovo launched operations in Accra in Ghana earlier this year, with the city of Tema following last month and it expects to…

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Italian-based Mobilspazio to partner with Takoradi Technical University

GHANA – Mobilspazio, an Italian-based Manufacturing company, has expressed its readiness to partner the Takoradi Technical University (TTU) to market and franchise products in their Carpentry and Wood Department to create employment opportunities for the youth as they graduate. The move, forms part of measures by the international wood processing and general home appliances company, to equip the youth with the relevant skills to design finished products of international standards in a competitive globalized economy. Country Director for Mobilspazio Production and Manufacturing company, Mr. Patrick Ekye- Kwesie, in an interview…

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Mobile operator Afriwave Telecom joins Smart Africa Alliance project

GHANA – Afriwave Telecom, a mobile operator, has joined the Smart Africa Alliance project by Smart Africa to unite Africa into a single digital market. Smart Africa is an alliance of 32 African countries, international organisations and global private sector players which aims to define Africa’s digital agenda. The alliance is empowered by a bold and innovative commitment by African Heads of State to accelerate sustainable socio-economic development on the continent and usher Africa into the knowledge economy through affordable access to broadband and the use of ICTs. The vision…

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Electrochem Ghana support women entrepreneurs with US$0.5m interest-free loan

GHANA – Electrochem Ghana Limited, the largest salt and chlorine-akali manufacturing company in West Africa and a subsidiary of the McDan Group has provided an interest-free loan of GH¢3 million (US$0.5m) to support women entrepreneurs in Ada and its environs. In all, over 1000 women would immediately receive the funds which formed part of the company’s Community Support Scheme established to empower entrepreneurs in the various communities in Ada where the company operates. It was also to ensure that women were gainfully employed to foster socio-economic development in the country.…

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MTN Ghana appoints Mr. Shaibu Haruna as Chief Sales and Distribution Officer

GHANA – MTN Ghana, a telecommunication company, has appointed Mr. Shaibu Haruna as Chief Sales and Distribution Officer with the responsibility of providing strategic direction for MTN’s Sales Strategy, Operating Model, Channels distribution as well as digital sales infrastructure. He will also support MTN accelerate growth and digitalization in accordance with the company’s Ambition 2025. Shaibu is a visionary and results oriented executive with proven commercial experience in a career spanning over two decades in multinational businesses across Africa and the Middle East. He successfully executed channel/business turnaround strategies in…

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