M a r k e t N e w s

Ghana: Weston Oil and Gas Fund Launched

Posted on : Thursday , 21st August 2014

The Weston Oil and Gas Fund (WOGFund) has been launched to assist companies and other agencies involved in the oil and gas business.


WOGFund is the first mutual fund of Weston Capital, a limited liability company incorporated in Ghana.


Speaking at the launch in Accra, today, the CEO of Weston Capital, Mr Rex Kontor, said WOGFund was a publicly-incorporated Ghanaian company that would invest primarily in a diversified portfolio of debt instruments and equities of companies operating in the Oil and Gas sector.


Mr Kontor said the Fund was initially offering 500,000 shares and had Weston Capital as its manager with Zenith bank as its custodian.


He said the fund was opened to the general public and institutional investors with a minimum subscription of 200 shares, adding that individuals with a minimum of 50 Cedis could make an initial investment in the Fund and consequently in the Oil and Gas sector.


On the objectives, Mr Kontor said, the fund would support the drive for local participation in the Oil and Gas industry by helping build the financial capacity of local companies operating in the sector.


In addition, he said, the Fund would encourage and assist Bulk Distribution Companies (BDCs), Oil Marketing Companies (OMCs) and other businesses to issue corporate bonds.


On support for the upstream industry, Mr Kontor said, that Blackstone Group and Warburg Pincus had initially invested US $300 million in Kosmos in 2014 to help it explore for Oil in Ghana.


In his remarks, the Director-General of the Security and Exchange Commission, Mr Adu Anane Antwi, disclosed that 35 investing schemes had been licensed and were currently operating in Ghana.


He said WOGFund would offer investors an additional fund for management and would focus on investing into majority companies involved in Oil and Gas.


"Ghana is now an Oil and Gas producing country and it should reflect on the stock exchange market," Mr Anane Antwi noted.


He said the challenge to investor education was funding and that the introduction of WOGFund onto the market marked the birth of specialty fund.

Source : allafrica.com
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • Mini plants of toilet paper rolls production
  • Save your power bill by instaling servo voltage stabilizer.
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • From a modest beginning in 1955, the IGP Group today provides over 50 products and services to the core sector.
  •  SS Gas Lab Asia is a reputed engineering company, engaged in manufacturing of carbon dioxide gas plants, hydrogen gas plants, nitrogen dioxide gas plants, CO2 storage tanks, CO2 transportation tankers and dry ice plants.
  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  • All type conveyor belts for internal & external location tapis roulant de tout genre pous deplacement a l
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
  • Manufacturer & Trader of coil winding machines, toroidal coil winding machines, wire bunching machines, complete winding solution
  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • Air Conditioning Hire
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  • Sonmez Makina Ltd. is a manufacturer and exporter company for filling systems of domestic use LPG cylinders.
  • Fuel Metering System
  • Multi feedstock batch processing biodiesel equipment
  • Pumping solutions, a technological potential.
  • Manufacturer of heavy duty machinery
  • Leading manufactures and expoters of the electronic products
  •  The Western Group has been in business for over two decades and was set up primarily to service the Oil & Gas Industry Sectors.
  • GLOBE GAS specialises in Multi Cylinder installation, Pipeline Installation, LPG Tank (Bulk) Installation, Designing Kitchen Layout etc.
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Hevt Duty Machinery
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2022 Afrotrade