South Africa's special investigations police unit Friday said they are probing alleged irregularities at the state-owned oil firm PetroSA in connection with an oil deal with Ghana. Paul Ramaloko, spokesman for the elite police unit known as the Hawks, refused to give details of the investigation. A local paper, the Mail & Guardian reported Friday that the national oil company paid an extra $20 million for the acquisition of Sabre Oil and Gas Holdings Limited, which has acreage in Ghana's Jubilee oil field.

* Analysts say 9 percent deficit target disappointing * Ghana keeps 9 percent inflation target, sees 8.5 pct GDP growth * Government says medium-term plan to cut deficit to 6 pct of GDP * Sees $582 mln in oil revenues in 2013 as production rises By Kwasi Kpodo

Fitch said Friday it had revised its outlook on Ghana's credit rating from stable to negative due to a ballooning deficit despite strong growth in the country, which has been seen as a model democracy in West Africa. The agency however maintained its long-term foreign and local currency issuer default rating at B+ despite and affirmed its short-term issuer default rating at B. Fitch named "the severe deterioration in the fiscal deficit to 12.1 percent of GDP in the run up to the December 2012 election" as a main factor in the decision.

* Bond oversubscribed five-fold * Yield falls to 16.7 pct from 21 pct * Cedi gained ahead of auction (Adds quotes, details) ACCRA, Jan 10 (Reuters) - Ghana accepted 402 million cedis ($213 million) in bids for its three-year bonds at an oversubscribed auction on Thursday, with the average yield dipping to 16.7 percent from 21 percent at the previous sale, the central bank said.