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Mobile operator Vodaphone has bought a slice of a network in Ghana, Africa, as it attempts to cash in on emerging markets.

The company has bought a controlling stake in Ghana Telecom from the country’s government, shelling out $900 (£481.4 million) in the process.

Mobiles are growing more popular in the North West African country, with 2.7 million people signing up to contracts in 2007.

Vodaphone’s deal gives it a 70 per cent share in the third-biggest mobile group in Ghana and the largest landline operator.

Arun Sarin, Vodafone chief executive, said: "Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55 per cent per annum and mobile penetration around 35 per cent."

More expansion could be on the cards, with a spokesman also adding the stable political situation in the country had helped seal the deal.

Ghana Telecom has a 17 per cent share of the country’s market, which translates to 1.4 million customers.

At the end of 2007 Vodafone had 252 million global customers, with more than 100 million of them in the growing markets of Eastern Europe, the Middle East, Africa and Asia.

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Millions of people found it hard to pay their bills on time in 2007 as household budgets became tighter. With the rising costs of gas and electricity, a study by YouGov for MoneyExpert.com found 1.3 million people who had difficulties paying their energy bills on time.

In addition to the 2.3 million people who either failed to pay, or paid their council tax in the second half of last year, nearly 3 million people in the UK also faltered in making their credit card payments. YouGov statisitics provided by MoneySuperMarket.com show that credit card users paid out £35 million in late payment fees.

Sean Gardner, Chief Executive of MoneyExpert.com, said, “Paying one bill late is not something to panic about. But if you find this is becoming something of a habit then you need to take action. Missing bills can have serious consequences, whether it’s losing a service altogether or even ending up in court.”

The financial advice website cautioned that as the ongoing credit crunch continues into 2008, many people may find themselves falling further behind in paying off bills.

A rise in energy prices and environmental awareness could change the way people buy their houses. With the introduction of the Energy Performance Certificate (EPC), the Home Builders Federation (HBF) predicts more home buyers will want to know their purchases are planet friendly. The new certificate allows home buyers to see the money saving benefits of having better energy efficiency.

John Slaughter, director of external affairs at the HBF, said, “I think we have to assume that [the EPC] will have some influence on perceptions of purchases. And obviously, if you go back to [the] point about hiking energy prices at the moment, then people will always take more notice of those things in that climate.”

A “Building a Greener Future” policy was begun by the government to encourage the construction of environmentally friendly homes by offering stamp duty exemptions for carbon-neutral homes.

Mr. Slaughter noted the EPC will “actually raise awareness of the benefits of good levels of energy efficiency and insulation would have – not just running costs but [for the] comfort of the house and so forth.“

Over-spending naturally accompanies the holiday season, however the strain and financial burden of such events can damage long-term plans for many families, says the Department for Work and Pensions (DWP). As families struggle to pay increased bills after Christmas, the children of many households are adversely affected.

Recently the DWP revealed an initiative to take on child poverty in the UK and has gathered statistics of government measures that have taken 600,000 children out of poverty over the previous ten years. As families look forward to expensive events such as the festive season, the DWP says that insufficient planning can leave people struggling even harder to pay the consequential bills.

Susan Clark of Jobcentre Plus stated, “Struggling to pay the bills after Christmas is a situation that many people find themselves in, and it can be very stressful.”

Difficulties after the holidays are common all across the UK, with the north-east, north-west, and Wales all effected, according to the DWP. On average, over 50% of people in the UK overspend at Christmas.

One way of avoiding the anxiety and difficulties which arise from overspending is to develop a plan to control finances. As the old saying goes, “A pinch of prevention is worth a bucket load of cure.” But for those who remain challenged in accepting our elders’ advice, consolidation loans are an effective way of repaying existing debts - and releasing families from the burden of after-holiday worries.

Tesco Pet Insurance reports that 5.2 million UK consumers have at least one dog, yet only 12% of owners take out insurance for their animal. Those without pet insurance could see themselves facing large vet bills in the future and need to be sure they are able to handle the financial commitment that accompanies pet ownership.

Allan Burns, a company representative for Tesco, said that the price for treating uninsured dogs can be “hefty”, and the high incidence of lack of preparation saddened him.

Many pet owners, up to 38% in fact, feel they cannot afford veterinary care for their animal, as reported by Mintel, a market research and intelligence group. 

Tesco is working to reduce the number of pets going without proper care with a 20% discount given to customers purchasing their pet insurance online and a 10% discount awarded for insurance bought over the phone. 

For pet owners who have already been affected by the financial difficulties of pet injury, a debt consolidation loan may be the solution for those unexpected vet fees that can place an additional financial burden on any household, according to Moneyfacts.

For years, Britons have enjoyed access to easy credit and less restrictive lending practices. However, studies made by uSwitch and backed by the Financial Services Authority (FSA) indicate that consumers are facing drastic changes. 

The report by uSwitch showed that 26% of consumers questioned would rather plan a holiday or take up a new hobby, while only 13% would take steps to put their finances in order. In the past, this lack of attention to the average household’s rising was unavoidable as consumers were confident in their ability to pay interest on credit, however that is rapidly changing.

As lenders tighten their lending practices, uSwitch reported that 25% of consumers ranging from 16 to 44 year-olds dread seeing their bills after the New Year. Over half of the consumers surveyed could not remember how much they had spent during the holiday season; a reflection that is not indicative of many consumers taking the credit bust as seriously as the number of financially injured individuals reveal.  

With 38% of all credit card applications now being rejected and 9.5 million people reaching their limit on at least one form of credit in the past 6 months, consumers are quickly being left with little money or financial leverage in their pockets. Making matters worse, research shows that interest repayments in Britain are increasing - having gone up by a total of £12.7 billion to a record high of £93 billion. The increase leaves 25% of adults unable to manage their debts. 

Higher mortgages repayments, credit card interest and expenses have raised the annual interest of a typical household, including mortgages, up by £517 in the past 12 months to £3,744.

Mike Naylor of uSwitch said consumers have been able to access easy and cheap credit for a long time, but those with big debts urgently need to take steps to protect themselves. Mr. Naylor concluded that the recent interest rate reduction came too late for those with the most severe debt.