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2/10/2014Ventures Africa | Oil Discoveries Spur Attraction From South African Firms: Ghana http://www.ventures-africa.com/2013/06/oilgas-discovery-spurs-attraction-from-south-african-firms-ghana/1/3 Oil Discoveries Spur Attraction From South African Firms: Ghana June 6, 2013 Mzwandile Jacks Business, Energy, Strategies & Solutions 1 Tweet 16 VENTURES AFRICA – Ghana has witnessed increased enquiries streaming in from South African firms wanting to invest in tourism, telecoms and health sectors since the discovery of oil in the West African country, reports claim. These firms have been attracted to Ghana following the discovery of oil and gas in the West African country, which have triggered economic growth in the country. Jeff Blackbeard, Africa Strategy Advisor for accounting and consulting firm, Moore Stephens South Africa, said: “We are seeing huge opportunities for the private sector in Ghana in spin-off and support industries. This will create the platform for further growth.” The World Bank said the Ghanaian economy is forecast to surge by over seven percent this year. The bank said the country’s economy has been lifted by gold production and the recent commercialization of oil and strong cocoa production. The African Development Bank (AfDB) has estimated that Ghana would see an 8.7 percent economic growth in 2014. Moore Stephens has been networking with South African firms in the telecoms sector, hospital management and tourism sectors. The consulting firm believes there’s an opening for South African firms keen on investing in mid-tier industries. “The next two years are an excellent time to get a foothold in Ghana,” Blackbeard said. Moore Stephens is pondering starting up a sister firm in Ghana to service the rising interest from South African firms, as well as those from other countries. Earlier this week, Old Mutual said it will buy a major stake in the Ghana-based Provident Life Assurance Company Limited (Provident) for an undisclosed amount. This is part the international wealth manager’s plans to expand its presence in the African continent. Provident is the fifth biggest life assurer in Ghana, providing life insurance through agency force. Old Mutual said the deal depends on the authorities’ approvals. All the parties are expected to close the deal by the end of the year. 1 Tweet 16 Now On Sale! SUBMIT PRESS RELEASE Popular Posts Recent Posts Why The Nigerian Diaspora Won’t Return Home The Richest Black Woman In The World, Folorunsho Alakija The Richest People In Africa 2013 How To Find A Job You Love How To Build A Multi Million Dollar Online Business In Nigeria Egyptian Travel Company Acquires Britain’s Mosaic Holidays Ivory Coast To Resume Flight To Ebola Hit Nations Nigeria Still Searching At 54: The Answers Are In The Middle Nigeria’s Unity Bank Partners SkyVision On Branch Connectivity Worldhotels Shifts Focus To West Africa Subscribe to Newsletter Your Name (required) Your Email (required) Send Ventures Poll Does Ebola pose a greater threat to Nigeria's economy than Boko Haram? Yes No Equal threat Search Man spends 5 days unconscious alone in his office after suffering stroke (BWNToday) 5 Share Share 5 5 Share Share 5 BWNToday Married man arrested for bringing three young kids to prostitute BWNToday Man spends 5 days unconscious alone in his office after suffering stro... BWNToday Inspector finds restaurant kitchen infested with snakes BWNToday 12-year-old girl wins $256,000 lawsuit against her mother BWNToday 17-year-old sleeping beauty sleeps 64 days in a row BusinessEntrepreneursInvestingLeadershipLifestyleListsOpinionsSportsTechContact Also on the Web X
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