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Arsenal supporters club Ghana makes donation to Nyame Nti

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John Bunyan once said “you have not lived until you have done something for someone who can never repay you.” This is the driving force behind ASCG’s annual charity events which started in 2014 with a donation to Osu Remand Home. In 2015, donations were made to the Kumasi Children’s Hospital. This year, the Club took a step further by donating to Nyame Nti, a suburb of Akyem Akroso in the Eastern Region to give the school building a face-lift, paint the school and also donate items to the school.

Arsenal supporters club Ghana believes that Education is the spine of this nation. A nation that does not know where it is heading towards must ask the machine that produces the populace who drive the nation: until we fix our education, we shall always have a wrong education and we shall always see a wrong nation. Without good education the nation has no future.

Arsenal Ghana supporters club raised funds through contributions from its members  in the various regions of the country to help paint the Nyame Nti M/A school and other learning materials to enable the deprived community enjoy the learning process in education to match with those in urban areas.

Nyame Nti M/A school is the only school in the community serving the entire Nyame Nti Township. The school is in a deplorable state, hasn’t seen renovation since it was built in 1992 and seriously lacks basic necessities of education. The school admits pupils from class one to Junior High School and has a pupil population of about 300 with only six (6) classrooms including the staff common room and a library.

The pupils are put in three (3) classes. i.e. (classes 1-3 share one classroom, classes 4-6 also share one classroom, JHS 1 & 2 share another classroom, and JHS 3 pupils have their class outside the classroom.

Currently, only seven (7) are in the school teaching from class one to JHS 3. Most teachers posted to the school end up abandoning their post due to poor conditions of service and the school and the transportation hardship involved. Teachers have to go to school on motor bikes (popularly called okada) which is mostly dangerous when it rains due to the poor nature of the road leading to the town and school.

Teachers on most occasions have to contribute from their meagre salaries to help maintain the school infrastructure as help does not come from anywhere. The school lacks portable drinking water, stationery, electricity, Teaching and Learning Materials, toilet facilties among many others.

Arsenal supporters club Ghana donated Stationery, building materials (paints, cements and building blocks), detergents, First Aid kit, and one desktop computer to the school. These items were received by the chief of the community and the headmaster on behalf of the school.

Speaking at the presentation, the chief and the headmaster both thanked the club for its kind gesture and prayed for the success of the club and its members and asked for more support from other stakeholders.

Also, speaking at the presentation of Nyame Nti M/A School, Arsenal supporter’s club chairman, Mr, Mohammed Fahd urged the pupils to take their studies very serious.

“There is a saying that, show me the heroes that the youth in your country look up to and I will tell you the future of your country. I am saying this because you are the future of this country and I encourage you to study hard and become the next leaders of this country.” Mr. Mohammed stated in his speech.

According to the Chairman, Arsenal supporters club Ghana have only done forty percent needs of the pupils of Nyame Nti MA School.

He concluded by saying that the Club and the pupils of Nyame Nti M/A school will appeal to the Ministry of Education, Ghana Education Service  (GES), corporate institutions and major stakeholders in the educational sector to come to the aid of the school and give it a facelift into a conducive and a better place for learning.

Babie Dapaah storms Ahwerase Akuapem with Agoro

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TV host, Babie Dapaah last weekend stormed the Eastern regional town of Ahwerase Akuapim with her show Agroo. For four hours, she thrilled the town folks with music, talk, quiz, and many couldn’t have enough.

Despite missing out on the Ahwerase Akuapim Odwira Festival, a week before, she lived up to the bill and the indigenes can’t wait to see her come back. During the show two contestants on the quiz show walked away with cash prizes of GH¢1,000 and GH¢650.

 

Emirates not interested in Ghana’s National Airline

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Emirate Airlines’ Senior Vice President for Commercial Operations in Africa, Orhan Abbas, has said the Dubai based national carrier is not interested in partnering Ghana or any other country in national airline operations.

Mr. Abbas, who spoke to the B&FT at the national headquarters of Emirates Airline in Dubai, stated that although Ghana was a great country, Emirates had no intention of partnering the government to set-up a new national airline.

He argued that Emirates, which is one of the biggest airlines in the world, today, flying to some 26 destinations in Africa with 165 flights per week, is focused on growing with its business plan which excludes alliances or partnerships.

“We, as an airline, look at our organic growth. We are happier in Dubai and as you can see we are not in any alliances. So, as I said, we concentrate on our business model, on our plan that we have put forward and we do not venture out to go into any partnerships or alliances or even mergers or acquisitions.

Ghana is one of our strongest destinations, as we have seen a tremendous growth over the years. But I am saying that we as Emirates look at our own growth and if you look at our history we have not done that before,” he said.

Since the desire was expressed by the government of Ghana to establish a new airline after failure to maintain the defunct Ghana Airways and Ghana International Airlines, there have been media reports suggesting Ghana was in talks with Emirates for a possible collaboration.

Ghana to establish National Airline

Following the collapse of Ghana’s former national carrier, Ghana Airways in 2005, over high indebtedness, successive governments have tried to establish a new national airline but have all been unsuccessful.

Government is now inviting bids from private investors in the aviation sector to help it establish a national carrier under a Public Private Partnership (PPP) initiative.

The new government has said it envisages Ghana becoming an aviation hub within the West and sub-Saharan region in Africa. To drive the hub vision of Ghana, government has given ‘policy approval’ for the establishment of a national airline.

This has received expert endorsement, with the International Air Transport Association (IATA) welcoming the decision.

“You cannot create a hub in Ghana without a home-based carrier. We need a strong home-based carrier and I am happy the President, Nana Addo Dankwa Akufo-Addo said recently.

Emirates’ new First-Class cabin

Meanwhile, Mr. Orhan Abbas also confirmed that Emirates’ New First-Class cabin will be showcased at the Dubai Air Show this November and formally launched.

Making its debut onboard a Boeing 777-300ER, Emirates’ new First-Class cabin will feature 6 private suites laid out in a 1-1-1 layout, compared to the existing 8 private suites in a 1-2-1 layout on its existing 777 fleet.

In addition to the entirely redesigned First-Class product, Emirates’ new Boeing 777-300ER will also boast of a range of other new features in the Business and Economy Class cabins.

Orhan Abbas stated that: “Our products and services across cabin classes are continually improved and enhanced. But what our customers will see on Emirates’ new Boeing 777-300ER starting from November, will be a much bigger revamp that takes our onboard experience to the next level. All cabins will sport a totally fresh new look. We are excited to showcase the results of years of planning and development invested into our new first class offering, and our overall Emirates 777 experience.”

Currently, Emirates is the world’s largest operator of the Boeing 777, flying 162 of these modern, efficient wide-body aircraft to six continents from its hub in Dubai.

The airline pioneered the private suite concept on commercial flights in 2003, establishing a new standard for First Class travel.

All Emirates’ destinations in Africa are served with Boeing 777 aircraft, except Morocco and Mauritius, which have A380s. One of the four services to Johannesburg is also an A380 service.

DP World expresses interest in Ghana’s ports

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DP World, a leading enabler of global trade, has hinted of plans to come into Ghana and collaborate with the government in port operations, in furtherance of government’s vision of making the country a trade hub within the sub-region.

Suhail Al Banna, Senior Vice President and Managing Director of DP World, in charge of Middle East and Africa, told the B&FT at the company’s headquarters in Dubai that the company is currently in talks with the government in which areas to collaborate.

“Ghana’s, as you know, main port is being managed by MESK, operating in Tema and they are going to expand the project there. What we are looking at is other opportunities within the country, especially at the west side of Ghana, because Ghana is also the gate way for other West African landlocked countries.

Those opportunities are indeed available and we are in talks with the government to see if there are any opportunities to operate, manage a port at the western side of Ghana,” he stated.

This disclosure comes barely a month after DP World’s Group Chairman and CEO, Sultan Ahmed Bin Sulayem, met with the President of Ghana, Nana Addo Dankwa Akufo-Addo, to discuss cooperation in customs technology, port operations, developing a freezone, rail transport and inland container depots, to develop Ghana as the trade hub for the West African region.

DP World is 80percent owned by the government of Dubai, with the 20percent being privately held.

Sultan Sulayem, who is also the Chairman of the Dubai company, Customs World, acquired West Blue Consult, a Ghanaian IT firm engaged in the provision of Ghana’s national single window and its risk management system, back in September, 2017.

Customs World is a subsidiary of Ports, Customs and Free Zone Corporation (PCFC) – Trakhees, which provides services to Dubai World and its subsidiaries in Dubai, as well as other areas controlled by Dubai customs.

Customs World plans to invest in new technologies and organise training for digital customs platforms, as it does in other countries worldwide.

DP world, which is the operator of the Jebel Ali Port, the largest marine terminal in the Middle East, has a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents, with a significant presence in both high-growth and mature markets.

DP World, according to Mr. Al Banna, aims to be essential to the bright future of global trade, ensuring that their partnerships have a long-lasting positive impact on economies and society.

“Integrating ports, customs, and freezones benefits the country they operate in enormously, enabling business to trade faster and more efficiently than ever before,” Mr. Al Banna said.

“Our flagship Jebel Ali port in Dubai is a pioneer with its logistics corridor connecting freezone, port and nearby airport with customs operations and digital processes such as the Dubai Trade portal to enable companies to move their goods.

Ghana’s ports and customs systems can make it a regional trade transport and logistics hub and a leader on the continent,” he said.

Nigerian High Commissioner assures of deepening in relationship

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The Nigerian High Commissioner to Ghana, Femi Michael Abikoye, has said Ghana and Nigeria will continue to deepen its relationship – a move that will see an increase in the number of Nigerian businesses operating in the country.

According to him, Ghana and Nigeria have enjoyed a positive bilateral relationship and also share common positions in the African Union and the United Nations.

Mr. Abikoye disclosed this when he and his team of ministers from the Nigerian High Commission paid a courtesy call on management of Energy Commercial Bank. They were warmly welcomed by the Managing Director and Chief Executive Officer, Christiana Olaoye; the Executive Director, Isaac Shedowo; and the bank’s management committee.

There are presently many Nigerian companies, from banking to insurance and telecommunications, operating here in the country.

Mr. Abikoye commended Energy Commercial Bank for repositioning its brand to deliver superior banking solutions and services to consumers. He was also impressed with the bank’s consistent financial performance – strong liquidity and capital adequacy – urging it to expand its banking businesses and remain disciplined.

The High Commissioner also spoke about how rebranding is of great importance in the corporate world, and as such commended the bank for such an initiative.

He emphasised that: “It is good to inculcate the culture of remodelling, repackaging and rebranding. It brings a new refreshing of the brand, and makes it more appealing to be patronised”.

The MD/CEO of Energy Bank lauded the Nigerian High Commissioner for his innovation and vision to strengthen Nigerian businesses in Ghana.

She noted that Energy Commercial Bank will remain committed to excellent and efficient service delivery at all customer touch points. “We will continue to provide customer-centric services to all our clients, and prospective ones too,” she noted.

Mrs. Olaoye added that: “Our service delivery will continue to be speedy and efficient, and we will not relent in our efforts to ensure that our customers are satisfied”.

Energy Commercial Bank presently has 12 branches in four regions of the country, and is expected to add another branch to its footprint before end of the year. Its vision is to build a strong bank based on the timeless principles of loyalty and customer services.

Alli shines as Tottenham stun champions Real

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Dele Alli condemned Champions League holders Real Madrid to a horrendous Wembley debut with two goals as Tottenham Hotspur reached the last 16 with a stunning 3-1 victory on Wednesday.

The 21-year-old England midfielder, making his first appearance in this year’s competition after serving a three-game ban, scored either side of halftime on a memorable night for Mauricio Pochettino’s team.

Christian Eriksen was also on target for Tottenham as they proved far superior to end Madrid’s 30-match unbeaten run in Champions League group play.

Cristiano Ronaldo replied for Zinedine Zidane’s side but it was in vain as Tottenham sealed a first win in six attempts against the Spanish champions who will face more criticism after falling eight points behind Barcelona in La Liga.

Tottenham lead Group H with 10 points with Real on seven, followed by Borussia Dortmund and Apoel Nicosia who have two each after a draw in Germany.

“We are starting to believe in our potential and quality,” Tottenham manager Mauricio Pochettino, whose side failed to negotiate the group phase last year, told reporters.

“This win makes us more visible and is something that everyone around Europe will have noticed.”

Twelve-times champions Real should still qualify but manager Zidane admitted his side were in a rut after the weekend’s defeat at Girona and now a chastening night at Wembley.

“It’s a hard defeat to take but it was against a team who played very well and deserved to win,” he said. “We were not able to come up with a response and we are not happy about it.”

Buoyed by their impressive 1-1 draw in the Bernabeu two weeks ago Tottenham began at a high tempo and dominated the opening 20 minutes against a pensive Madrid.

Harry Kane, declared fit after missing his side’s weekend loss at Manchester United with a hamstring strain, should have done better with an attempted chip over Real keeper Kiko Casilla who was deputising for injured Keylor Navas.

Tottenham right back Kieran Trippier was a constant menace down the right and his first-time volleyed cross caused panic in the Real defence – a portent of things to come for Real.

FORAY FORWARD

The hosts suffered a blow when central defender Toby Alderweireld’s evening was cut short as he pulled up with a hamstring injury after a foray forward.

Moussa Sissoko replaced him with Eric Dier dropping into defence but it did not slow Tottenham’s momentum as they deservedly went ahead five minutes later.

Harry Winks picked out Trippier racing down the right and his volleyed cross found Alli to prod home.

Real responded with Casemiro and Ronaldo testing Hugo Lloris but Tottenham should have increased their lead before halftime when Sissoko mis-kicked in front of goal from another Trippier cut back and Kane’s goalbound shot was blocked by Sergio Ramos.

A single-goal lead looked vulnerable against the defending champions but Tottenham doubled it nine minutes after the break with Alli sending the Wembley crowd into raptures.

The England midfielder was allowed to advance goalwards and his shot deflected off Ramos’s back to completely wrong-foot Casilla.

Real, who had lost only one of their last 22 European fixtures, swarmed forward trying to salvage something but their night took a turn for the worse when Tottenham counter-attacked in devastating fashion in the 65th minute, Alli finding Kane who picked out Eriksen to calmly slot home.

Ronaldo fired home his sixth goal in this year’s competition to set up a frantic last 10 minutes but Tottenham held firm to avenge their quarter-final defeat by Real in 2011.

Fertiliser maker Yara may build $2 bln Mozambique gas-fired plant

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Norwegian fertiliser maker Yara International is considering building a $2 billion plant in Mozambique and may seek partners to share the cost, the chief executive said.

Mozambique awarded Yara a project in January to make ammonia and urea from the country’s gas output, saying the firm could produce up to 1.3 million metric tons of fertilisers annually.

The fertiliser project has seen limited progress so far and has no construction timeframe but discussions on a development programme were continuing, Yara CEO Svein Tore Holsether told Reuters in an interview at a business summit in Oslo.

“The value of the project, if I use industry benchmarks, will be about $2 billion investment,” he said, adding that it was too early to say if Yara would develop the project alone.

“We are working on it and time will tell what the structure will be,” Holsether said.

If developed, Yara would be able to use between 80 million and 90 million cubic feet of natural gas per day to produce ammonia and urea. In addition to making fertilisers, the site would have a power plant with capacity of 50 megawatts (MW).

Mozambique wants to reduce fertiliser imports, which are now vital for its agricultural industry, and replace them with local products made from its natural gas resources.

Yara, which is seeking acquisitions outside Europe, has been considering assets in Africa, Holsether said without giving a timeframe for any purchase.

“Africa is going to be our largest market at some point. I am just looking at the fundamentals — land availability, climate, water — tick all the boxes on that. I do believe the fundamentals are in place,” he said.

Yara International already produces fertilisers in Libya and is building a terminal in Tanzania, according to its website. The company is also assessing the viability of a potash mining facility in Ethiopia, it said.

NPA launches National Petroleum Safety Campaign

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Mr Hassan Tampuli (3rd left), Prof. George Gyan Baffour (5th left), Dr Mohammed Amin Adam (3rd right) and CEOs of other petroleum industry state agencies launching the campaign

The National Petroleum Authority (NPA) has officially launched its National Petroleum Safety Campaign to raise awareness on adherence to safety protocols in the petroleum downstream sector, under the theme ‘People Safety First’.

Speaking at the launch, Chief Executive of the NPA Alhassan Tampuli said since April this year, the authority has embarked on activities as part of measures to achieve the campaign’s objectives, which include educating the public on their role in preventing fires at all petroleum installations in the country.

He said: “These activities include a breakfast meeting with CEOs of Oil Marketing Companies and Liquified Petroleum Gas (LPG) marketing companies to brief them on the objectives and goals of the safety campaign”.

He added that the NPA has also held safety workshops for transporters and Bulk Road Vehicle (BRVs) drivers to raise their awareness on the need to operate safely.

He further explained that the authority held workshops for the media in the Greater Accra, Western, Northern, Ashanti and Volta Regions as part of the campaign.

In the area of public education, Alhassan Tampuli stated that the media is being used as a channel to publicise the campaign and ensure that individuals and households are not left out.

“There is public education being undertaken through the media, such as the telecast of LPG Safety audio-visual animation on various television networks, and broadcast of same on radio and publication of safety tips in various newspapers,” he said.

He was optimistic that with the door-to-door LPG safety programme, all operators of restaurants, hotels and “chop-bars” will also be briefed and sensitised toward the safe use of petroleum products.

In a speech read on his behalf, Vice President Dr. Mahamudu Bawumia said safety compliance is a major issue of concern to government, and therefore commended the NPA for its initiative.

“The issue of safety in the use of petroleum products has been high on the agenda of government, which has culminated in the introduction of the Cylinder Recirculation Model,” he said.

“One can say that most petroleum-related accidents occur as a result of lacking adequate awareness of the risks in handling and using these products.”

The issue of safety, he appealed, should be seen as a collective responsibility and not solely the job of the NPA.

Chief Executive of the Association of Oil Marketing Companies, Mr. Kweku Agyemang Duah, said it is a good sign that government has recognised safety as key to the industry, and assured the NPA of their support for the campaign.

“We don’t want this to be a one-time thing. What we want, as an industry, is to move forward to make safety a way of life,” he said.

He added that the Association of Oil Marketing Companies has also taken steps to ensure that its members are fully compliant with safety regulations and protocols, and aims to raise the bar in this regard.

“We, as an industry, in May had a Safety Week, and we continue to have peer-review with our members. We want to have a standard in the industry that will become over and above what the regulator asks us to do. This means that regulatory standards will become the minimum for the industry,” he explained.

The NPA, following the recent Atomic Junction explosion which resulted in the death of 7 people and injured 132 others, has instituted stringent measures to ensure that the issue of safety is brought to the fore as far as handling petroleum products are concerned.

The launch of the campaign was climaxed with the symbolic signing of a pledge by reps of OMCs, LPGMCs and CEO of the NPA, committing to ensure safety compliance in the handling of LPG and Petroleum products.

By: Kennedy Aryeetey Tetteh | thebftonline.com | Ghana

Continental free trade possible in 5-10 years – Kagame

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The President of Rwanda, Paul Kagame, is projecting the removal of all continental barriers to allow for free trade in Africa within the next 5 to 10 years.

According to the Rwandan President, the various regional blocs in Africa have done a lot – putting in place the right measures to allow for unification in the area of continental free trade.

Speaking at the 2017 Global Business Forum, Africa, in Dubai, Paul Kagame said: “I think within 5-10 years we will see more progress adding to what we have already realised. If you look at different regions, like the ECOWAS, they have made progress especially in the area of free movement of the people. Very significantly, if you also look at the east African region even more progress has been made in the area of Customs union and integration in the area of infrastructure.

“These include no tariffs in the areas of power and telecommunications, including railway networks. So, you can see everything coming together with more trade, investments across countries of different regions. In fact, the southern African block is even more ahead with intra-regional trade – which means that we are coming together, no matter the bloc that you are referring to on the continent,” he told the audience.

Mr. Kagame further stated: “We can get to non-tariff trade across the borders of the continent, because if we are seeing it work in the east African region and other things are working in other regions, then it’s possible because its already a big step for us as a union”.

Going beyond the current level of intra-Africa trade estimated at around 15 percent, Mr. Kagame said, is dependent on building knowledge and information to tackle existing bottlenecks, which he believes is being worked on by member-nations already.

Heads of State in Africa have signed an agreement to implement the Continental Free Trade Agreement (CFTA) which is to foster free-trade.

The CFTA, when implemented, will also reduce the continent’s vulnerability to external shocks and is expected to enhance the participation of Africa in global trade as a respectable partner, thereby reducing the continent’s dependence on foreign aid and external borrowing.

In 2000 intra-continental trade accounted for 10% of Africa’s total trade, and increased marginally to 11% in 2015.

Trading among members of the European Union, for example, amounted to 70% in 2015. Intra-African trade is still estimated at less than two percent (2%) of global trade.

Minimum-capital raise affected energy bond — Dr. Atuahene

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A lecturer at the Ghana Banking College and CEO of Universal Capital Management, Dr. Richmond Atuahene, has said the new minimum capital required of banks partly explains why they did not lap up the ESLA bond.

As of Friday, October 30, which was supposed to be the deadline for subscription of the bonds, only GH₵3.4billion out of the GH₵6billion – representing 57 percent – had been realised, leading to a one-week extension of the 10-year bond’s auction being announced.

Commenting on this, Dr. Atauhene said banks are currently capital-deficient and would rather focus on meeting the new minimum capital requirement of GH₵400million.

“We have banks that have capital deficiency; and if I am a bank looking for capital, why would you want me to participate in a bond? So, there is a correlation between capital deficiency of the banks and undersubscription of the bond.

“The banks that are supposed to buy the bonds are, at the same time, being asked to look for money to recapitalise. So, if I am a shareholder there is no way I would advise my bank to get involved in the bond subscription when I don’t know whether I will be able to meet the new capital requirement by 2018. And meeting the capitalisation now is more important than buying a government bond,” he told the B&FT in an interview.

Other reasons

Aside from the capitalisation issue, Dr. Atuahene is also of the opinion that investors are shying away from the bond because of uncertainty in the macroeconomic fundamentals of the country.

“There are also fundamental issues in the economy. They were given 19 percent, but is government prepared to manage the economy such that inflation can be at 5 percent? Because if inflation is even at 15 percent, it means your real return is 5 percent. Couldn’t the bank get another investment that would give it more than that 5 percent? So, people are not very convinced about the future macroeconomic environment,” he said.

Again, Dr. Atuahene argues, investors see the assets being written off as “toxic”, hence, the undersubscription.

“The Energy bond is basically the loans of ECG, VRA, GRIDco, BOST and the like. The underlining asset that is being restructured into a bond is a toxic asset; and how can I make returns” on a toxic asset? In buying bonds you want to know what asset is being underwritten, and I am saying here that they are toxic assets from VRA, ECG and GRIDco.

“What I mean by ‘toxic’ is that they are assets that are of no good to anybody. In good sense, banks could have written it off if they had good capital and reserves. Do you want me to get a return on toxic assets? So, I am not surprised that the bond is undersubscribed,” he said.

In his analysis of why the ESLA bond was undersubscribed, Arnold Dublin-Green – Portfolio Manager at Ecobank Asset Management, also cited lack of clarity on whether the bond was a sovereign one or not.

“Firstly, the lack of clarity on whether the issue was sovereign backed or not – coupled with the uncertainty on whether to classify the bond as sovereign, corporate or quasi-sovereign…And while Ghana used the SPV structure to have the bonds excluded from reported public borrowings, the IMF classifies it as government debt as it will be serviced from state revenues.

“Ghana is a frontier market – once there are doubts as to whether government will back a paper, investors cannot justify taking on non-sovereign risk for a non-investment grade local currency bond in a frontier market with limited liquidity priced around the same level as the government benchmark,” he said.

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