ING finances its first social impact loan in Ghana to boost education sector

GHANA – International corporate banking institution that operates as a subsidiary of ING Bank, ING has financed its first social impact loan in Ghana ING’s Structured Export Finance teams in Amsterdam and Frankfurt, with support from the Sustainable Finance team, closed the US$185.37million commercial and credit export facility, which is covered by SERV (Swiss Export Risk Insurance) The loan, which…

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Ghana supports AfDB’s quest for more resources to accelerate continent’s transformation

GHANA – Ghana’s President Nana Akufo-Addo has backed calls for more resources for the African Development Bank Group to accelerate its transformative role across the continent. President Akufo-Addo has expressed strong support for a significant replenishment of the African Development Fund, the African Development Bank Group’s concessional financing arm. He noted that the work of the Fund has become even…

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Cocoa processing start-up Koa secures US$3.5M for sustainable cocoa fruit production

GHANA – Swiss-Ghanaian cocoa processing start-up Koa has secured US$3.5 million from The Landscape Resilience Fund (LRF) and IDH Farmfit Fund to boost cocoa fruit production. This investment will support Koa to set up a new processing facility in the country, increasing production capacity more than tenfold by 2024 and creating additional income for up to 10,000 cocoa farmers. The…

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Fidelity Bank Ghana appoints Atta Yeboah Gyan as Deputy Managing Director

GHANA – Fidelity Bank Ghana has announced the appointment of Mr. Atta Yeboah Gyan as its Deputy Managing Director in charge of Operations and Support functions. Atta Gyan is a hands-on executive and ascends to this new role with a wealth of experience in several aspects of banking, including Finance, Corporate Strategy, Risk Management, Operations, Audit and Control, and Regulatory…

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Asante Gold takes majority stake in Chirano Gold Mine in Ghana

GHANA – Asante Gold Corporation has entered into a US$225 million share purchase agreement with Kinross Gold Corporation to acquire Kinross’ 90% interest in the Chirano Gold Mine in Ghana. Chirano is an operating open-pit and underground mining operation located in southwestern Ghana, immediately south of the Company’s Bibiani Gold Mine. The upfront consideration for the acquisition will be comprised…

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Renewable energy provider Bboxx acquires PEG Africa for US$200M

GHANA – British renewable energy provider, Bboxx has reportedly acquired PEG Africa, a solar home systems provider based in Accra, Ghana in a deal worth US$200 million. The acquisition subject to approval from Ghanaian authority and PEG Africa’s financial partners marks a major step in Bboxx’s expansion in West Africa. PEG Africa based in Accra, provides decentralized solutions for access…

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Engen Ghana signs agreement with Coliba Recycling Services to manage plastic waste

GHANA – Engen Ghana, a company specializing in the distribution of petroleum products, has signed an agreement with Coliba Recycling Services for the management of its plastic waste. Under the agreement, Coliba will install bins for the collection of used plastic packaging in the 42 service stations for the oil company. The recycling bins will enable people to easily and…

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Ghana’s Farmerline secures US$12.9M in pre-series A funding for expansion

GHANA – Ghanaian agri-tech startup, Farmerline has raised US$12.9 million in pre-series A funding round (equity and debt) to strengthen the agribusiness supply chain in Ghana. The equity funding (US$6.4 million) was led by Acumen Resilient Agriculture Fund (ARAF) and FMO, with participation from Greater Impact Foundation. The debt round saw participation from DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole…

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Ghana to build pharmaceutical manufacturing hub to promote local production

GHANA – Ghanaian President Nana Akufo-Addo has ordered the establishment of an advanced pharmaceutical manufacturing hub named Pharma Park to promote local pharmaceutical production in the country. The pharmaceutical industry will partner with the Pharmaceutical Chamber to create Pharma Park in the industrial zone with accessible lands for the pharmaceutical sector to set up manufacturing factories. The Government intends to…

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Radisson Hotel Group debuts in Ghana with launch of Number One Oxford Street Hotel & Suites

GHANA – Radisson Hotel Group has announced its debut in Ghana with the opening of Number One Oxford Street Hotel & Suites, a member of Radisson Individuals. In partnership with Belfast City Management, a wholly-owned subsidiary of Kwarleyz Group, the hotel also marks the second Radisson Individuals hotel opening in Africa within the last two weeks. Number One Oxford Street…

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