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Hilbroy Advisory: Economic Outlook Bright for Ghana, If Curse Avoided
Hilbroy Advisory: Economic Outlook Bright for Ghana, If Curse Avoided
Despite economic promise, Ghana remains a deeply impoverished nation with significant social challenges ahead.
Montreal,
Quebec,
Canada
(prbd.net)
21/06/2011
Montreal, Quebec, June 20th, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Ghana is considered one of the brighter prospects among West African developing nations, thanks in part to its transition to an electoral democracy in the late 1990s and a strong potential to earn to become a middle-income nation, thanks to new oil revenues.
However, oil exploration in Africa has historically been considered a curse, fueling strife in places like the Niger Delta, Nigeria, and feeding corruption and despotism. Ghana hopes to break that curse now that it has started pumping offshore oil in December, 2010.
Following are look at some facts related to Ghana's ongoing economic and social transformation, as viewed from headlines published this week.
The Jubilee oil field has sold about 2 million barrels and is now at 70,000 barrels per day. It's expected to reach 120,000 bpd in July.
Slightly less than 50 percent of share of the field is held by three American companies, Andarko, Kosmos, and Sabre Oil and Gas. About one third is held by Tullow, an Anglo-Irish firm, and the remaining 13.75 percent share is owned by the state.
The country's primary economic focus has been on cocoa production and mining over the past few decades. Recent policy papers developed by Minister for Trade and Industry Hanna Tetteh are intended to provide a five-year roadmap for development focused on revitalizing technical and scientific training, domestically producing machinery, and cultivating specific crops.
Despite a reputation for cocoa, Ghana's economy is dominated by the services sector.
Perhaps making up for lost production in nearby unstable Ivory Coast, the 2010-2011 Ghanaian cocoa crops reached 904,000 tons and could go as high as 1 million for 2012-2013. The record crop is a 54 percent boost from the previous yields, and is in part fueled by high prices.
Despite economic promise, Ghana remains a deeply impoverished nation with significant social challenges ahead. 116 children were found in the Volta Lake area after having been sold by their parents for what amounts to roughly $100. Additionally, 29 minors were rescued from the sex industry in Accra. Last year, 284 children around Ghana were freed from forced labor.
While generally considered a stable nation lacking the reputation for violence more common recently in other West African countries, an MP made ominous statements this week warning of lynching’s and forced evictions of homosexuals. David Tettah Assuming gave an interview suggesting that "I am sending a sign to these people that they will not have it easy in this country. They can leave here and go to other places to practice that. But in this country, I believe that they are treading on dangerous grounds and they could face lynching in future." Like most sub-Saharan countries, homosexuality is a taboo subject and strongly frowned upon due to deeply conservative social beliefs.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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