Pursuits
Ghana Companies Sell Shares at Record Rate Amid Debt Squeeze
- Listed companies forced to raise capital as market slumps
- Interest rates at 26% prompt companies to reduce debt
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Ghanaian companies needing cash are caught in a dilemma.
Faced with borrowing costs at a 13-year high, companies including the local unit of Diageo Plc and Ghana Oil Co. are turning to the stock market to raise record amounts of capital as they try to reduce debt. They could hardly have chosen a worse time.