Unilever Ghana Climbs to Record High on Growth Hopes

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.

(Corrects company name in final paragraph.)
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