Benso Ghana Gains Most in 3 Months on Refinery: Accra MoverMoses Mozart Dzawu
Benso Oil Palm Plantation Ltd., a unit of Wilmar International Ltd., rose the most in more than two months after announcing it will open a $16 million oil-palm refinery in Ghana next month.
The stock gained 3.6 percent to 1.45 cedis as of 2:51 p.m. in the capital, Accra, the highest since October 25.
“News yesterday that Wilmar is going to open one of the biggest oil-palm refineries in West Africa here in Ghana hit the market today,” Xorlali Torsu, a trader at Databank Financial Services Ltd. in Accra, said by phone. “The news attracted buyers. Those who have the shares are now holding on to them.”
The plant will be able to process 1,000 metric tons a day, making it West Africa’s second-biggest oil-palm refinery, said Santosh Pillai, the managing director of Benso.