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Unilever Ghana Climbs to Record High on Growth Hopes

(Corrects company name in final paragraph.)

Dec. 7 (Bloomberg) -- Unilever Plc’s Ghana unit, a maker of household goods, climbed to the highest on record as investors speculated the company will benefit from increased consumer spending because of faster economic growth.

Unilever Ghana Ltd. rose 9 pesewas, or 1.6 percent, to 5.70 cedis by 11:15 a.m. in Accra.

Ghana’s economy will expand 12.3 percent next year after the country starts producing oil at its offshore Jubilee oil field, Finance Minister Kwabena Duffuor said on Nov. 18.

The growth is expected to drive consumer demand for Unilever’s soap, toothpaste, and food brands, Hilary Lomotey, an analyst at Renaissance Capital in Accra, said by phone today.

To contact the reporter on this story: Jason McLure in Accra on jmclure@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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