BUSINESS NEWS | GHANA AND BEYOND 🌍 01/04/2019

  • Apr 2, 2019
  • g/Business
  • Aiphay
🚩 Figures released by the Bank of Ghana(BoG) in its latest Summary of Economic and Financial Data show that Ghana’s debt stock increased by 21.5 percent in 2018. By this, the country added Gh¢30.6 billion to its debt stock in 2018. The debt stock at the end of 2017 stood at Gh¢142.6 billion, increasing to Gh¢173.2 billion in 2018. Government in the period raised a number of bonds including Eurobond and domestic bonds to embark on infrastructure development and also retire some maturing debts. 🚩 The Ghana Maritime Authority (GMA) has signed a three-year strategic sector cooperation agreement with its Danish counterpart, the Danish Maritime Authority, marking the start of the second phase of an e-navigation programme that seeks to enhance surveillance of the country’s territorial waters. The second phase of the e-navigation will also support implementation of international maritime regulations and train tug-boat captains with advanced simulators in Denmark. 🚩 The government has released funds to ensure full completion of the Boaso Bamboo Processing Factory under flagship policy of One-Distric-One-Factory in the Atwima Nwanbiagya District in the Ashanti Region after several concerns by the people in the region. This came to light after the Chief of the Boaso, Nana Kofi Bimpong II had several meetings with the Trade and Industry Ministry and later disclosed to journalists the government's commitment to pump money into the project. 🚩 Bank deposits have risen significantly over the last few months after the banking sector reforms, Head of Banking Supervision at the Bank of Ghana, Osei Gyasi has said. Mr Gyasi said there has been improved customer confidence among traders that banks that survived after the reforms are capable of holding their funds. He was speaking at the CEOs Breakfast meeting by the Ghana Investment Promotion Centre (GIPC) in collaboration with JoyBusiness. 🚩 Aker Energy Ghana Limited, the Norwegian oil company operating the offshore Deepwater Tano/Cape Three Points (DWT/CTP) oil block in the Western Region, has submitted a $4.4 billion investment plan for developing the block to the Ministry of Energy. The Pecan field at the DWT/CTP is estimated to hold 334 million barrels of oil equivalent (mboe), with an estimated plateau production of 110,000 barrels of oil per day to last for about 25 years. 🚩 Barclays Bank Ghana, a member of Absa Group, recorded an impressive growth of support to its customers and businesses during 2018, the bank’s 2018 financial results released March 28, 2019 has indicated. According to Barclays, it increased its loans and advances to customers to the tune of GHS 3.125 billion last year which represented a growth rate of 35%. This is as a result of the bank’s believe in providing financial support to Ghanaian businesses including SMEs to stimulate economic growth. 🚩 The Ghana Grid Company Limited (GRIDCo) has been hit by a salary delay following the takeover of the management of the Electricity Company of Ghana (ECG) by Power Distribution Services (PDS). Staff of the company will, therefore, experience delay in the payment of their March salary. Announcing the news to all staff in a circular dated 27 March, GRIDCo’s Chief Executive Jonathan Amoako-Baah said, “due to the operationalization of the Power Distribution Service (PDS) as part of the Electricity Company of Ghana (ECG) reforms, we anticipate a few days delay in the payment of the March 2019 salary. 🚩 Customers of defunct gold dealership, Menzgold , will from April 2 begin a series of demonstrations to demand their locked up principal investments. The Coalition of Aggrieved Customers of Menzgold Ghana Limited said in a press statement issued on March 27 that its members – about 6,000 people – will embark on continuous picketing at the Premises of the Economic and Organised Crime Office (EOCO), the Securities and Exchange Commission (SEC), the Attorney Generals' Department and the Jubilee House to press home their demands. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.0809 Sell 5.0859 GB£Gh¢ Buy 6.6123 Sell 6.6208 CAD$Gh¢ Buy 3.8030 Sell 3.8068 JP¥Gh¢ Buy 0.0458 Sell 0.0459 ZARGh¢ Buy 0.3508 Sell 0.3512 EU€Gh¢ Buy 5.7052 Sell 5.7115 CHN¥Gh¢ Buy 0.7566 Sell 0.7575 Gh¢CFA Buy 114.85 Sell 114.98 Gh¢NG₦ Buy 60.23 Sell 60.28 BITCOIN Trading Price $4,016.98 ▲$3.24 ▲0.18% ETHEREUM Trading Price $137.52 ▲$0.79 ▲0.52% RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.83% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CAL +10.53% ➡️Gh¢1.05 GCB +4.99% ➡️Gh¢4.00 MTNGH +2.94% ➡️Gh¢0.70 BOPP +0.48% ➡️Gh¢4.15 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -0.79% ➡️Gh¢2.51 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1953% Interest Rate 14.7176% 182 - Day Discount Rate 14.0914% Interest Rate 15.1595% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🐂GHANA GOV'T EUROBOND RATES 🏦 7 Year Bond Coupon Rate 7.8750% 12 Year Bond Coupon Rate 8.1250% 31 Year Bond Coupon Rate 8.9500% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +49.71% ➡️Gh¢5.09 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ACCESS +12.68% ➡️Gh¢4.00 ALW +12.50% ➡️Gh¢0.09 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE SIC -21.05% ➡️Gh¢0.15 GOIL -19.55% ➡️Gh¢2.51 BOPP -18.47% ➡️Gh¢4.15 GCB -13.04% ➡️Gh¢4.00 MTNGH -11.39% ➡️Gh¢0.70 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.24 (+1.16%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,928.68 +211.22 +0.82% *S&P 500 🏦 2,834.40 +18.96 +0.67% *Nasdaq Index📲💻  7,729.32 +60.16 +0.78% * NYSE Composite Index 12,696.88 +64.30 +0.51% *London FTSE 100 7,279.19 +44.86 +0.62% *Germany DAX 11,526.04 +97.88 +0.86% *Japan NIKKEI 225 21,505.20 +299.39 +1.41% *Hong Kong HANG SENG  29,518.79 +467.43 +1.61% * Shanghai Shenzhen 300 3,966.97 +94.63 +2.44% *S&P/ASX 200 Index 6,217.00 +36.27 +0.59% *Bloomsberg EU 500 254.93 +1.59 +0.63% *FTSE/JSE South Africa Top40 50,273.93 +370.62 +0.74% *Nairobi SE 20 Share 2,846.35 +10.88 +0.38% *Nigeria SE Main-Board Index 31,041.42 +207.92 +0.67% *GSE Composite Index 2454.51 35.02 (+1.45%) *GSE Financial Index 2155.29 21.54 (+1.01%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+10.67% Republic Equity 🔼+1.58% Omega Equity 🔼+4.13% HeritageFund 🔻-0.47% Legacy Trust 🔼+3.22% EPAcK 🔼+2.45% Dalex Vision 🔼+3.36% Anidaso Fund 🔼+1.01% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+3.29% Republic F Plan 🔼+1.99% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.21% CM Fund 🔼+4.98% CDH Balanced 🔼+3.74% Bfund 🔼+2.26% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.04% FirstFund 🔼+16.01% Galaxy Mfund 🔼+9.39% Republic Unit +11.14% SEM MoneyPlus 🔼+14.21% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+4.05% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.43% SEM Income 🔼+2.40% Mfund 🔼+3.35% EdiFund T1 🔼+3.15% Gold Money 🔼+5.57% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.78 +0.20 +0.30% *Natural Gas 🏭 $/million BTUS $2.68 +0.02 +0.64% *Gold 👑 $/troy ounce $1,298.10 -0.40 -0.03% *Silver 💍 $/troy ounce $15.13 +0.02 +0.10% *Corn 🌽 $/bushel $358.75 +2.25 +0.63% *Cocoa 🍫 $/metric ton  $2,280.00 +23.00 +1.02% *Coffee ☕ ¢/pound   $94.50 +0.50 +0.53% *Sugar🎂 ¢/pound $12.53 0.00 0.00% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS NEWS | GHANA AND BEYOND 🌍 27/03/2019

  • Mar 27, 2019
  • g/Business
  • Aiphay
🚩 Ghana has signed an Air Service Agreement with Malta which will see the national airline of the Mediterranean state flying directly to Ghana. The direct flight would be the first of the Maltese carrier, Air Malta, to sub-Saharan Africa. The two nations also signed other agreements on the agreed minutes of the second meeting at the technical level on Ghana, Malta permanent joint commission on full bilateral cooperation, and double taxation. 🚩 An ambitious project is underway to install 55 small-scale renewable electricity production and distribution systems, known as mini grids, in island communities on the Volta Lake and those with limited access to the national grid by 2020. So far, some US$230 million has been dedicated to the implementation of the project which is being executed by the Volta River Authority (VRA) under the Scaling Up Renewable Energy Programme (SREP) in low income countries. 🚩 Ken Ashigbey, the Chief Executive Officer of the Ghana Chamber of Telecommunications, has said network operators in 2018 paid a total of GH¢1.94 billion tax and a direct capital expenditure of over GH¢276 million to the state. He explained that the mobile industry contributed close to nine per cent of Ghana’s total revenue basket and employed more than 1.7 million people directly and indirectly. Mobile Phone, he said, was a key channel for e-government’s strategy and financial inclusion drive, with public institutions now using mobile money, SMS, and USSD platforms to deliver services to the public. 🚩 Private sector credit growth is expected to rebound from the first quarter of 2019, following a tightening stance by commercial banks on loans to enterprises during the last two months of 2018, according to Bank of Ghana’s financial sector report for January 2019. The survey projects an easing of banks’ credit stance over the first quarter of 2019, in line with their enhanced capital levels following the completion of the recapitalization exercise to a minimum of GH¢400 million at the turn of the year. 🚩 Ghana has recorded a downward slope by placing 9th as one of the preferred investment destination hub in Africa, according to a study by Rand Merchant Bank Ltd (RMB). Findings by RMB analysts and co-authors of the study, Celeste Fauconnier and Neville Mandimika showed that Ghana dropped from fifth to ninth place in the 2019 rankings mainly as a result of a downward review of the 2018 growth rate by the International Monetary Fund (IMF). The other countries in the top 10 list included Egypt, South Africa, Morocco, Ethiopia, Kenya, Rwanda, Tanzania, Nigeria, and Cote D’Ivoire. 🚩 Delta3 International, a cybersecurity firm with operations in Europe and Africa, has signed a partnership with IBM, the global technology provider, for the upcoming Information Security (InfoSec) and IT Leaders Conference. The conference, which comes off on March 28, at the Marriot Hotel, Accra from 8:30am to 4:30pm is under the theme Mitigating Cyber Risks through Effective Leadership and seeks to reposition information security as a key business enabler and also to share new knowledge in information technology and information security. 🚩 Stakeholder consultations have begun for a possible review of the law which bans the use of motorcycles for commercial purposes. According to the Transport Ministry which is leading the discussion, the Okada business has provided jobs for thousands of people and has also made commuting easy for traders, hence the need to reconsider the law. The Road Traffic Regulations, 128, 2012 forbids the use of Motor cycles or tricycles for commercial purposes aside courier and delivery service. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.0780 Sell 5.0830 GB£Gh¢ Buy 6.7101 Sell 6.7187 CAD$Gh¢ Buy 3.7916 Sell 3.7955 JP¥Gh¢ Buy 0.0459 Sell 0.0460 ZARGh¢ Buy 0.3513 Sell 0.3517 EU€Gh¢ Buy 5.7356 Sell 5.7405 CHN¥Gh¢ Buy 0.7562 Sell 0.7572 Gh¢CFA Buy 114.27 Sell 114.37 Gh¢NG₦ Buy 60.26 Sell 60.32 BITCOIN Trading Price $3,984.66 ▲$78.94 ▲2.20% ETHEREUM Trading Price $136.65 ▲$3.29 ▲2.46% RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.81% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE RBGH +14.55% ➡️Gh¢0.63 EGL +7.18% ➡️Gh¢2.24 CAL +3.85% ➡️Gh¢1.08 EGH +0.88% ➡️Gh¢8.03 SCB +0.05% ➡️Gh¢20.00 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE MLC -10.00% ➡️Gh¢0.09 SOGEGH -1.11% ➡️Gh¢0.89 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1953% Interest Rate 14.7176% 182 - Day Discount Rate 14.0914% Interest Rate 15.1595% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🐂GHANA GOV'T EUROBOND RATES 🏦 7 Year Bond Coupon Rate 7.8750% 12 Year Bond Coupon Rate 8.1250% 31 Year Bond Coupon Rate 8.9500% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +49.71% ➡️Gh¢5.09 SOGEGH +18.67% ➡️Gh¢0.89 AYRTN +14.29% ➡️Gh¢0.08 ACCESS +12.68% ➡️Gh¢4.00 ALW +12.50% ➡️Gh¢0.09 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE SIC -21.05% ➡️Gh¢0.15 BOPP -19.06% ➡️Gh¢4.12 GOIL -18.59% ➡️Gh¢2.54 GCB -13.04% ➡️Gh¢4.00 MTNGH -11.39% ➡️Gh¢0.70 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.24 (+1.16%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,657.73 +140.90 +0.55% *S&P 500 🏦 2,818.46 +20.10 +0.72% *Nasdaq Index📲💻  7,691.52 +53.98 +0.71% * NYSE Composite Index 12,641.36 +105.68 +0.84% *London FTSE 100 7,196.29 +18.71 +0.26% *Germany DAX 11,419.48 +72.83 +0.64% *Japan NIKKEI 225 21,428.39 +451.28 +2.15% *Hong Kong HANG SENG  28,566.91 +43.56 +0.15% * Shanghai Shenzhen 300 3,700.44 -42.39 -1.13% *S&P/ASX 200 Index 6,130.59 +4.38 +0.07% *Bloomsberg EU 500 253.80 +2.00 +0.79% *FTSE/JSE South Africa Top40 49,372.21 +210.68 +0.43% *Nairobi SE 20 Share 2,852.15 -19.75 -0.69% *Nigeria SE Main-Board Index 31,038.86 -3.46 -0.01% *GSE Composite Index 2460.90 13.45 (+0.55%) *GSE Financial Index 2164.88 25.83 (+1.21%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+10.67% Republic Equity 🔼+0.97% Omega Equity 🔼+4.13% HeritageFund 🔻-1.64% Legacy Trust 🔼+3.11% EPAcK 🔼+3.34% Dalex Vision 🔼+2.97% Anidaso Fund 🔼+0.90% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+3.29% Republic F Plan 🔼+1.83% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.66% CM Fund 🔼+4.98% CDH Balanced 🔼+3.74% Bfund 🔼+1.88% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.17% Galaxy Mfund 🔼+9.39% Republic Unit 🔼+11.18% SEM MoneyPlus 🔼+14.21% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+3.62% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.43% SEM Income 🔼+2.40% Mfund 🔼+2.98% EdiFund T1 🔼+2.70% Gold Money 🔼+5.43% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.97 +0.76 +1.13% *Natural Gas 🏭 $/million BTUS $2.73 -0.01 -0.36% *Gold 👑 $/troy ounce $1,321.80 +0.40 +0.03% *Silver 💍 $/troy ounce $15.43 +0.00 +0.01% *Corn 🌽 $/bushel $377.25 -2.50 -0.66% *Cocoa 🍫 $/metric ton  $2,237.00 +21.00 +0.95% *Coffee ☕ ¢/pound   $95.35 +1.10 +1.17% *Sugar🎂 ¢/pound $12.48 -0.09 -0.72% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry
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BUSINESS NEWS | GHANA AND BEYOND 🌍 05/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 OmniBank Ghana Limited and Sahel Sahara Bank Ghana limited (BSIC) have merged into a new entity named Omnibsic. The two entities thus effective 4th March, operate under the merged name Omnibsic. The merger was necessitated in their bid to meet the meet the Bank of Ghana’s new minimum capital requirement of 400 million cedis. An official statement released by the merged bank stated that “This merger represents a pooling of the expertise of the two major banks with strengths in various banking services to provide more opportunities, increase access and make the merged entity attractive to the banking public”. 🚩 FBN Bank Ghana Limited, has disclosed that it is working in close collaboration with the EXIM Bank to support businesses interested in entering the agricultural sector. According to the bank, it will use its experience of supporting such businesses from Nigeria to do same in Ghana. A number of banks in the country have over the years shied away from investing in the agricultural sector because of the high risk involved. 🚩 A global cocoa surplus is expected in the 2018/19 season, Informa’s Agribusiness intelligence said on Thursday, with record production driven by favourable weather in West Africa. Global cocoa production was seen hitting a record high of 4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report. 🚩 As the cedi continues to show some weakness against the dollar, there are calls from observers to halt the rate of depreciation the currency to stabilize prices. The local currency since the beginning of the year has seen over 8.6 percent depreciation, causing currency analysts to question measures put in place to stabilize the cedi. The cedi, as at December 2018 was trading against the dollar at 4 cedis 86 pesewas. The currency then began to experience a drop by the third week in January. Checks by Citi Business News at forex bureaus on Friday [March 1, 2019] indicated that the cedi has weakened to 5 cedis 33 pesewas. 🚩 Finance Minister Ken Ofori Atta says government can only do little about investments locked up in financial institutions that promise unrealistic returns over a short period of time. According to him, any organisation that promise a fixed return at the end of the month should be taken a second look at. Finance Minister, Ken Ofori Atta last month at Burma Camp in Accra revealed that official records show at least 200 million cedis have been locked up in defunct investment firm Menzgold. 🚩 Jumia, Africa’s leading e-commerce platform, has signed a partnership with technology firm Xiaomi at the Mobile World Congress in Barcelona, giving millions of users in Africa easy access to Xiaomi products. Through the partnership, Jumia will open the Mi official store on its platform and give Xiaomi access to millions of online customers across 14 countries in the continent, while Jumia will be able to offer Redmi Go (1GB+8GB) exclusively in Africa as well as other devices later in the year. 🚩 General Manager of Legal Affairs at the Ghana Ports and Harbour Authority (GPHA), Sandra Opoku has been appointed the acting Director of Tema Port. DGN Online understands that she is taking over from lawyer Edward Osei. According to information available to DGN Online, the Director-General of GPHA informed management of Tema Port on Sunday, March 3, 2019, about the new order. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1976 Sell 5.2028 GB£Gh¢ Buy 6.8562 Sell 6.8651 CAD$Gh¢ Buy 3.9060 Sell 3.9100 JP¥Gh¢ Buy 0.0465 Sell 0.0465 ZARGh¢ Buy 0.3651 Sell 0.3655 EU€Gh¢ Buy 5.8851 Sell 5.8898 CHN¥Gh¢ Buy 0.7743 Sell 0.7746 Gh¢CFA Buy 111.37 Sell 111.46 Gh¢NG₦ Buy 58.85 Sell 58.91 BITCOIN Trading Price $3,693.39 ▼$-91.30 ▼-2.41% ETHEREUM Trading Price $124.83 ▼$-5.57 ▼-4.27% RIPPLE Trading Price $0.30 ▼$-0.01 ▼-2.59% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE EGH +10.24% ➡️Gh¢7.75 GCB +7.12% ➡️Gh¢3.76 EGL +0.92% ➡️Gh¢2.20 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE SOGEGH -8.16% ➡️Gh¢0.90 MTNGH -1.35% ➡️Gh¢0.73 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1868% Interest Rate 14.7085% 182 - Day Discount Rate 14.0676% Interest Rate 15.1320% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +35.00% ➡️Gh¢4.59 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -18.26% ➡️Gh¢3.76 CMLT -10.00% ➡️Gh¢0.09 MTNGH -7.59% ➡️Gh¢0.73 GOIL -7.05% ➡️Gh¢2.90 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,819.65 -206.6 -0.79% *S&P 500 🏦 2,792.81 -10.88 -0.39% *Nasdaq Index📲💻  7,595.35 +62.82 +0.83% * NYSE Composite Index 12,637.27 -63.40 -0.50% *London FTSE 100 7,134.39 +27.66 +0.39% *Germany DAX 11,592.66 -9.02 -0.08% *Japan NIKKEI 225 21,822.04 +219.35 +1.02% *Hong Kong HANG SENG  28,959.59 +147.42 +0.51% * Shanghai Shenzhen 300 3,794.10 +44.39 +1.18% *S&P/ASX 200 Index 6,217.41 +24.68 +0.40% *Bloomsberg EU 500 252.24 +0.43 +0.17% *FTSE/JSE South Africa Top40 49,895.02 +53.75 +0.11% *Nairobi SE 20 Share 2,912.70 -3.49 -0.12% *Nigeria SE Main-Board Index 32,129.94 +302.70 +0.95% *GSE Composite Index 2494.27 in 12.17 (+0.49%) *GSE Financial Index 2136.81  46.71 (+2.23%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $65.55 +0.48 +0.74% *Natural Gas 🏭 $/million BTUS $2.86 0.00 -0.07% *Gold 👑 $/troy ounce $1,287.50 -11.70 -0.90% *Silver 💍 $/troy ounce $15.11 -0.15 -0.99% *Corn 🌽 $/bushel $374.75 +1.75 +0.47% *Cocoa 🍫 $/metric ton  $2,156.00 -61.00 -2.75% *Coffee ☕ ¢/pound  $97.35 -2.85 -2.84% *Sugar🎂 ¢/pound $12.36 -0.26 -2.06%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 07/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Ghana has cemented its position as the most attractive destination for Foreign Direct Investment (FDI), ahead of neighbouring Nigeria, by attracting FDI commitments to the tune of well over US$ 3.5 billion in 2018. GIPC nearly matched the previous year’s performance, registering US$3.32 billion in commitments and with local counterpart commitments added on, a total of US$3.54 billion. Instructively, the highest single investment registered is for US$1.42 billion and indeed two investments are for over US$1 billion each. Despite this being the highest FDI registered in the 24 year history of the GIPC cynics argued that it was only achieved because of one single investment commitment of over US$2 billion made during the year. 🚩 Databank, Ghana’s leading investment bank, held a Forum dubbed ‘Time with the CEO’ for its clients and the general public on Friday, March 1, 2019, at the new Accra Metropolitan Assembly Office Complex at 5:30 p.m. The program was moderated by Bernard Avle, host of the Citi FM Breakfast Show. Databank launched an initiative called Time with the CEO to give both prospective and existing clients the opportunity to interact with the CEO in a more informal and relaxed setting. During the Forum, the CEO responded to questions that touched on the safety of the industry, the future of Databank as a company, Databank’s products, the impact of banking reforms on the investment industry, as well as people just looking for investment advice. 🚩 Ghana’s Aviation Minister Joseph Kofi Adda has described the interest rate for the loan secured for the construction of the Terminal 3 at Kotoka International Airport as too much. In 2015, Ghana Airports Company Limited m interest rate of Libor plus 8.5%. The loan was approved by a consortium of banks led by Ecobank Capital. The Terminal 3 project at the time was meant to expand the facilities at the Kotoka International Airport to accommodate the gradually increasing number of passengers as well as increasing the number of airlines servicing the airport. 🚩 The Ghana National Gas Company (Ghana Gas) will by the middle of 2019 monetize an essential by-product, known as Isopentane, which would be used for power generation. Currently the pentane gas is flared since the country has not built the capacity to use this particular gas. However, the CEO of Ghana Gas, Dr. Ben Asante revealed at a media briefing that by the middle of this year, Ghana Gas will be using the Isopentane gas produced for power generation. The power production is expected to be undertaken by an independent local power producer. 🚩 It has emerged that Ghana charges the highest amount of levies on imported goods within the Sub-Saharan region. Speaking to Citi FM, President of the Ghana Union of Traders Association (GUTA), Joseph Kwaku Obeng noted this has led to many traders or businessmen travel to neighbouring West African countries to purchase imported goods because it’s cheaper than importing to Ghana. 🚩 Aker Energy has announced the discovery of oil in the Pecan South-1A well, drilled south of the main Pecan field in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana. The Norwegian company in a statement Monday said it will now drill a sidetrack well to further appraise the volume potential. The Pecan South-1A well was drilled south of the main Pecan field in the DWT/CTP block and encountered oil. 🚩 The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst culprits in repaying loans taken from banks resulting in high non-performing loans within the banking sector. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1976 Sell 5.2028 GB£Gh¢ Buy 6.8239 Sell 6.8328 CAD$Gh¢ Buy 3.8981 Sell 3.9020 JP¥Gh¢ Buy 0.0465 Sell 0.0465 ZARGh¢ Buy 0.3674 Sell 0.3678 EU€Gh¢ Buy 5.8893 Sell 5.8944 CHN¥Gh¢ Buy 0.7758 Sell 0.7761 Gh¢CFA Buy 111.28 Sell 111.38 Gh¢NG₦ Buy 58.85 Sell 58.91 BITCOIN Trading Price $3,856.07 ▲$55.01 ▲1.47% ETHEREUM Trading Price $137.02 ▲$4.23 ▲3.23% RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CMLT +11.11% ➡️Gh¢0.10 GCB +1.33% ➡️Gh¢3.81 EGL +0.45% ➡️Gh¢2.21 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE CAL -4.85% ➡️Gh¢0.98 MTNGH -1.37% ➡️Gh¢0.72 TOTAL -0.87% ➡️Gh¢4.55 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1868% Interest Rate 14.7085% 182 - Day Discount Rate 14.0676% Interest Rate 15.1320% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +33.82% ➡️Gh¢4.55 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -17.17% ➡️Gh¢3.81 MTNGH -8.86% ➡️Gh¢0.72 GOIL -7.05% ➡️Gh¢2.90 SIC -5.26% ➡️Gh¢0.18 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,673.46 -133.17 -0.52% *S&P 500 🏦 2,771.45 -18.20 -0.65% *Nasdaq Index📲💻  7,505.92 -70.44 -0.93% * NYSE Composite Index 12,538.00 -86.47 -0.68% *London FTSE 100 7,196.00 +12.57 +0.17% *Germany DAX 11,587.63 -33.11 -0.28% *Japan NIKKEI 225 21,456.01 -140.80 -0.65% *Hong Kong HANG SENG  28,883.54 -154.06 -0.53% * Shanghai Shenzhen 300 3,840.51 -7.58 -0.20% *S&P/ASX 200 Index 6,263.89 +18.27 +0.29% *Bloomsberg EU 500 252.59 -0.39 -0.15% *FTSE/JSE South Africa Top40 49,875.04 +289.38 +0.58% *Nairobi SE 20 Share 2,909.74 +2.35 +0.08% *Nigeria SE Main-Board Index 32,121.74 -51.92 -0.16% *GSE Composite Index 2479.96 -14.31 (-0.57%) *GSE Financial Index 2133.69 -3.12 (-0.15%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $66.20 +0.21 +0.32% *Natural Gas 🏭 $/million BTUS $2.84 0.00 -0.14% *Gold 👑 $/troy ounce $1,285.40 -2.20 -0.17% *Silver 💍 $/troy ounce $15.08 -0.01 -0.07% *Corn 🌽 $/bushel $371.50 -1.00 -0.27% *Cocoa 🍫 $/metric ton  $2,245.00 +88.00 +4.08% *Coffee ☕ ¢/pound  $98.70 -0.95 -0.95% *Sugar🎂 ¢/pound $12.16 -0.28 -2.25%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 08/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Prices of Petrol and Diesel have gone up beyond 5 cedis at some fuel stations in the country. Checks at two of the major Oil Marketing Companies, Total and Shell showed a 24 pesewas increase of the prices of both Diesel and Petrol. Both are now selling at Gh¢5.18. GOIL on the other hand is yet to adjust its prices, petrol and Diesel are still selling at Gh¢4.94 pesewas. Other companies such as Allied are also yet to adjust its prices. The company is still selling Petrol and Diesel at Gh¢4.94 🚩 The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst culprits in repaying loans taken from banks resulting in high non-performing loans within the banking sector. 🚩 The first Express Bosch Car Service (EBCS) has been opened in Ghana to offer affordable yet quality car services to car owners. Bosch opened the centre with a special discounts on all services and on Bosch spare parts are to be provided on on Friday 22nd February, 2019. Speaking in an interview with the media, Rashid Sowah, Workshop Concept Manager at Bosch explained that the "innovative EBCS concept steers toward a fast fit concept focusing on services that answer to the market demand." 🚩 Taxify, the leading European on-demand transportation platform, is changing its name to Bolt and introducing a new logo. The update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing, with cars and motorbikes, to scooter sharing. Speaking on why the company chose to make the change,Markus Villig, CEO and co-founder, Bolt said,“Taxify launched five years ago with a mission to make urban transportation more convenient and affordable. Our first product was a taxi dispatch solution that gave the company its original name. 🚩 The President of Ghana Union of Traders Association (GUTA), Dr Joseph Kwaku Obeng has said Ghana charges the highest amount of levies on goods imported into the country within the Sub-Saharan region. Dr Obeng said Ghanaian traders go to neighbouring West African countries to buy goods imported to those countries because it is cheaper than importing directly into Ghana. This he said has a major negative effect on the Ghanaian currency and economy of the country as a whole. 🚩 The latest twist in the race for the regional sports networks owned by Twenty-First Century Fox (FOX, FOXA) involves a stepped-up bid from rapper/actor Ice Cube, the New York Post reports. His Big3 league is reportedly teaming up with Macquarie, entrepreneur Carolyn Rafaelian and Centerbridge Partners on a bid to acquire the 21 nets that aren't YES Network (still expected to go to the New York Yankees). Disney (NYSE:DIS) must divest the RSNs to complete its $71B asset deal with Fox. 🚩 Samsung has denied reports that it's reviewing a potential acquisition of NXP Semiconductors (NASDAQ:NXPI). Reports that the Korean chipmaker was considering a bid of 50T won (about $44.3B) were pegged to a meeting between Samsung's strategic president and NXP's CEO, but Samsung (OTC:SSNLF) said a trip by Ahn Jung-hyun to the United States involved business negotiations with subsidiary Harman instead. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2076 Sell 5.2128 GB£Gh¢ Buy 6.8194 Sell 6.8282 CAD$Gh¢ Buy 3.8768 Sell 3.8808 JP¥Gh¢ Buy 0.0467 Sell 0.0467 ZARGh¢ Buy 0.3614 Sell 0.3618 EU€Gh¢ Buy 5.8490 Sell 5.8556 CHN¥Gh¢ Buy 0.7758 Sell 0.7759 Gh¢CFA Buy 112.02 Sell 112.15 Gh¢NG₦ Buy 58.75 Sell 58.81 BITCOIN Trading Price $3,874.80 ▼$-16.37 ▼-0.36% ETHEREUM Trading Price $135.45 ▼$-1.71 ▼-1.30% RIPPLE Trading Price $0.31 ▼$-0.01 ▼-1.22% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CAL +2.04% ➡️Gh¢1.00 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE SIC -11.11% ➡️Gh¢0.16 GCB -0.26% ➡️Gh¢3.80 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1868% Interest Rate 14.7085% 182 - Day Discount Rate 14.0676% Interest Rate 15.1320% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +33.82% ➡️Gh¢4.55 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -17.39% ➡️Gh¢3.80 SIC -15.79% ➡️Gh¢0.16 MTNGH -8.86% ➡️Gh¢0.72 GOIL -7.05% ➡️Gh¢2.90 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,473.23 -200.23 -0.78% *S&P 500 🏦 2,748.93 -22.52 -0.81% *Nasdaq Index📲💻  7,421.47 -84.45 -1.13% * NYSE Composite Index 12,443.43 -94.57 -0.75% *London FTSE 100 7,157.55 -38.45 -0.53% *Germany DAX 11,517.80 -69.83 -0.60% *Japan NIKKEI 225 21,025.56 -430.45 -2.01% *Hong Kong HANG SENG  28,292.64 -486.81 -1.69% * Shanghai Shenzhen 300 3,667.89 -140.96 -3.70% *S&P/ASX 200 Index 6,203.76 -60.12 -0.96% *Bloomsberg EU 500 251.48 -1.11 -0.44% *FTSE/JSE South Africa Top40 49,665.55 -209.49 -0.42% *Nairobi SE 20 Share 2,905.50 -4.24 -0.15% *Nigeria SE Main-Board Index 32,049.73 -72.01 -0.22% *GSE Composite Index 2480.56 0.60 (+0.02%) *GSE Financial Index 2134.83 1.14 (+0.05%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $65.77 -0.53 -0.80% *Natural Gas 🏭 $/million BTUS $2.87 +0.01 +0.21% *Gold 👑 $/troy ounce $1,293.40 +7.30 +0.57% *Silver 💍 $/troy ounce $15.12 +0.08 +0.53% *Corn 🌽 $/bushel $366.50 +1.25 +0.34% *Cocoa 🍫 $/metric ton  $2,182.00 -63.00 -2.81% *Coffee ☕ ¢/pound  $96.85 -1.85 -1.87% *Sugar🎂 ¢/pound $12.14 -0.02 -0.16%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry
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BUSINESS NEWS | GHANA AND BEYOND 🌍 22/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Scientists and other experts in agriculture are meeting in Accra to find means of using technology (innovation platforms) to find a lasting solution to Fall Army worms and boost agriculture productivity in Africa. The gathering of the scientists, agriculturists, crop and livestock farmers and researchers, comes on the back of the destruction of farms by the Fall army worms that cost the Ghanaian economy an estimated $64 million and the entire Africa $13 billion between 2016-2018, according to figures from the Ministry of Food and Agriculture and the USAID Bureau for Food Security. 🚩 Ministry of Food and Agriculture says it is looking to cut down imports of rice by 50 per cent as well as end the importation of tomato this year. Deputy Minister for the Ministry of Food and Agriculture, George Oduro said the government is working to cut the levels of food import significantly. According to him, efforts to expand irrigation projects, the introduction of mechanization are among the efforts to help boost production. 🚩 Parliament on Thursday passed the Payment Systems and Settlement bill into law. The bill is expected to significantly trigger the growth of electronic payments in Ghana. The purpose of this law is to amend and consolidate laws and guidelines relating to payment systems, electronic money operations and to regulate institutions which issue electronic money and provide payment services. 🚩 STATE-Owned Enterprises (SOEs) will soon be expected to pay 15 per cent of their gross profit to the government as dividend, the Executive Chairman of the State Enterprises Commission (SEC), Mr Stephen Asamoah Boateng, has hinted. The departure from the old regime where dividends are paid on net profit will come into force after the State Interest and Governance Authority Bill, which is presently before Parliament, has been passed into law. 🚩 BEEKEEPING has been recognised as an enterprise that can provide employment, income and economic security for farmers in rural areas with little startup investments. Naturally, bees usually look after themselves, with little need for tendering and they provide a number of products such as honey, wax, pollen, royal jelly, among others, which are well known in many local markets. Even though it is a lucrative trade with the use of simple management techniques, prospective bee keepers need to consider local culture and economy for it to be successful, and as an enterprise that fits in very well with small scale farmers’ livelihoods. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1565 Sell 5.1617 GB£Gh¢ Buy 6.7576 Sell 6.7654 CAD$Gh¢ Buy 3.8586 Sell 3.8620 JP¥Gh¢ Buy 0.0465 Sell 0.0465 ZARGh¢ Buy 0.3622 Sell 0.3626 EU€Gh¢ Buy 5.8644 Sell 5.8687 CHN¥Gh¢ Buy 0.7692 Sell 0.7700 Gh¢CFA Buy 111.77 Sell 111.85 Gh¢NG₦ Buy 59.33 Sell 59.39 BITCOIN Trading Price $3,979.88 ▼$-27.10 ▼-1.24% ETHEREUM Trading Price $135.26 ▼$-2.54 ▼-1.84% RIPPLE Trading Price $0.31 ▼$-0.01 ▼-0.89% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE TBL +13.04% ➡️Gh¢0.26 ETI +6.67% ➡️Gh¢0.16 CAL +1.96% ➡️Gh¢1.04 EGL +0.48% ➡️Gh¢2.11 EGH +0.39% ➡️Gh¢7.73 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE TOTAL -9.80% ➡️Gh¢4.60 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1929% Interest Rate 14.7150% 182 - Day Discount Rate 14.0833% Interest Rate 15.1501% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🐂GHANA GOV'T EUROBOND RATES 🏦 7 Year Bond Coupon Rate 8.7500% 12 Year Bond Coupon Rate 8.1250% 31 Year Bond Coupon Rate 8.9500% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +35.29% ➡️Gh¢4.60 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 TBL +13.04% ➡️Gh¢0.26 ACCESS +12.68% ➡️Gh¢4.00 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 BOPP -18.66% ➡️Gh¢4.14 GOIL -18.59% ➡️Gh¢2.54 SIC -15.79% ➡️Gh¢0.16 GCB -13.04% ➡️Gh¢4.00 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,962.51 +216.84 +0.84% *S&P 500 🏦 2,854.88 +30.65 +1.09% *Nasdaq Index📲💻  7,838.96 +109.99 +1.42% * NYSE Composite Index 12,782.54 +82.29 +0.65% *London FTSE 100 7,355.31 +64.30 +0.88% *Germany DAX 11,549.96 -53.93 -0.46% *Japan NIKKEI 225 21,608.92 +42.07 +0.20% *Hong Kong HANG SENG  29,071.56 -249.41 -0.85% * Shanghai Shenzhen 300 3,836.89 +1.45 +0.04% *S&P/ASX 200 Index 6,167.17 +1.82 +0.03% *Bloomsberg EU 500 256.08 -0.34 -0.13% *FTSE/JSE South Africa Top40 49,827.56 -647.55 -1.28% *Nairobi SE 20 Share 2,855.63 -16.32 -0.57% *Nigeria SE Main-Board Index 30,885.31 -155.53-0.50% *GSE Composite Index 2435.94 1.69 (+0.07%) *GSE Financial Index 2127.33 13.88 (+0.66%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+12.33% Republic Equity 🔼+1.82% Omega Equity 🔼+4.13% HeritageFund 🔻-1.19% Legacy Trust 🔼+3.11% EPAcK 🔼+4.99% Dalex Vision 🔼+2.97% Anidaso Fund 🔼+1.61% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.91% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+3.26% EDC Balanced 🔼+0.66% CM Fund 🔼+4.88% CDH Balanced 🔼+3.19% Bfund 🔼+2.37% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.22% Galaxy Mfund 🔼+9.39% Republic Unit 🔼+10.88% SEM MoneyPlus 🔼+14.46% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+3.36% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.25% SEM Income 🔼+2.19% Mfund 🔼+2.75% EdiFund T1 🔼+2.70% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.70 -0.80 -1.17% *Natural Gas 🏭 $/million BTUS $2.82 +0.00 +0.04% *Gold 👑 $/troy ounce $1,307.30 +5.60 +0.43% *Silver 💍 $/troy ounce $15.44 +0.12 +0.78% *Corn 🌽 $/bushel $376.25 +4.75 +1.28% *Cocoa 🍫 $/metric ton  $2,132.00 -11.00 -0.51% *Coffee ☕ ¢/pound  $94.80 +0.05 +0.05% *Sugar🎂 ¢/pound $12.50 -0.24 -1.88% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 21/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 The Producer Price Inflation for February 2019 went up by 5.4 percent. This represents a 2. 0 percentage point increase from the 3.4 percent recorded in January 2019. The Producer Price Index is the price manufacturers and producers sell their products at the wholesale level. The 5.4 percent increase means retailers paid more on goods they purchased at the factory level compared to what they paid in January. 🚩 The Executive Board of the International Monetary Fund has approved the final disbursement of about US$185.2 million to Ghana. Ghana is scheduled to complete an IMF programme with the fund in April 2019. According to the IMF, its Executive Board completed the seventh and eight reviews On March 20, 2019, under the Extended Credit Facility (ECF) supported arrangement. The fund pointed out that Considering the Ghana’s resolved to tackle difficult reforms, the Executive Board also approved the authorities’ request for a waiver of the nonobservance of a few program targets. 🚩 Officials from Suzuki Motor Corporation, Toyota Tsusho Corporation, and CFAO have announced a joint venture to manufacture and distribute vehicles in Ghana. At a courtesy call on President Akufo-Addo, on Tuesday, Mr. Koyote Suzuki, General Manager for the Middle East and Africa of Suzuki Motor Corporation, told President Akufo-Addo that with the company producing some 1.8 million vehicles in India alone, “my mission is to find our next India in the continent of Africa.” 🚩 The National Petroleum Authority (NPA) is expect to begin the regulation of bitumen which is especially used in the road construction sector of the country. The move is to ensure that services that use bitumen receive the required standard materials. Hassan Tampuli, Chief Executive Officer of NPA made this known when he presented the Brookfield Viscometer to the Ghana Highway Authority (GHA) at a brief event in Accra on Monday. 🚩 Ghana Cocoa Board has signed a new 3-year receivables-backed trade finance facility of US$300m. The Facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of Cocobod and/or to finance production enhancement programmes. Cocobod represents various interests of the Ghanaian cocoa industry. It was established in 1947 with the mission to facilitate the production, processing and marketing of good quality cocoa, coffee and sheanut. After the Ivory Coast, Ghana is the world’s second-largest cocoa exporter. 🚩 Cabinet has approved the draft automobile industrial policy which has been designed to guide the establishment of vehicle assembling plants and manufacturing firms in the country. The policy is expected to go through parliamentary scrutiny before becoming a working document. Deputy Minister of Trade and Industry, Robert Ahomka Lindsay tells JoyBusiness, the government is engaging all stakeholders in order to have a complete policy for the automobile industry and other industrial sectors of the economy. 🚩 In 2018, Ghana imported an estimated US$ 311.4 million worth of seafood and fish products, resulting from overexploitation of the marine stocks in the country’s own territorial waters which is further expected to continue to limit domestic seafood production over the next few years, until domestic stocks replenishes. This is making Ghana’s still small, but rapidly growing aquaculture industry more critical than ever. This has been revealed in a recently released report by the Global Agricultural Information Network (GAIN), a USDA Foreign Agricultural Service. Estimates reveal that import levels reached US$290.1 million, US$349.4 million, US$297.5 million and US$311.4 million in 2015, 2016, 2017 and 2018 respectively. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2373 Sell 5.2426 GB£Gh¢ Buy 6.9138 Sell 6.9229 CAD$Gh¢ Buy 3.9278 Sell 3.9319 JP¥Gh¢ Buy 0.0470 Sell 0.0471 ZARGh¢ Buy 0.3636 Sell 0.3640 EU€Gh¢ Buy 5.9468 Sell 5.9521 CHN¥Gh¢ Buy 0.7820 Sell 0.7829 Gh¢CFA Buy 110.21 Sell 110.30 Gh¢NG₦ Buy 58.41 Sell 58.47 BITCOIN Trading Price $4,030.71 ▲$40.05 ▲1.00% ETHEREUM Trading Price $138.83 ▲$1.69 ▲1.23% RIPPLE Trading Price $0.32 ▲ $0.01 ▲1.06% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE TBL +15.00% ➡️Gh¢0.23 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE SCB -4.72% ➡️Gh¢20.00 MTNGH -1.41% ➡️Gh¢0.70 EGH -0.52% ➡️Gh¢7.70 GCB -0.25% ➡️Gh¢3.99 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1929% Interest Rate 14.7150% 182 - Day Discount Rate 14.0833% Interest Rate 15.1501% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🐂GHANA GOV'T EUROBOND RATES 🏦 7 Year Bond Coupon Rate 8.7500% 12 Year Bond Coupon Rate 8.1250% 31 Year Bond Coupon Rate 8.9500% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +50.00% ➡️Gh¢5.10 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ACCESS +12.68% ➡️Gh¢4.00 ALW +12.50% ➡️Gh¢0.09 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 BOPP -18.66% ➡️Gh¢4.14 GOIL -18.59% ➡️Gh¢2.54 SIC -15.79% ➡️Gh¢0.16 GCB -13.26% ➡️Gh¢3.99 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,745.67 -141.71 -0.55% *S&P 500 🏦 2,824.23 -8.34 -0.29% *Nasdaq Index📲💻  7,728.97 +5.02 +0.07% * NYSE Composite Index 12,700.25 -60.54 -0.47% *London FTSE 100 7,291.01 -32.99 -0.45% *Germany DAX 11,603.89 -184.52 -1.57% *Japan NIKKEI 225 21,608.92 +42.07 +0.20% *Hong Kong HANG SENG  29,145.30 -175.67 -0.60% * Shanghai Shenzhen 300 3,837.20 +1.76 +0.05% *S&P/ASX 200 Index 6,167.17 +1.82 +0.03% *Bloomsberg EU 500 256.42 -2.32 -0.90% *FTSE/JSE South Africa Top40 49,827.56 -647.55 -1.28% *Nairobi SE 20 Share 2,871.95 -20.49 -0.71% *Nigeria SE Main-Board Index 31,040.84 -41.48 -0.13% *GSE Composite Index 2434.25 -26.48 (-1.08%) *GSE Financial Index 2113.45 -27.24 (-1.27%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+12.33% Republic Equity 🔼+1.82% Omega Equity 🔼+4.13% HeritageFund 🔻-1.19% Legacy Trust 🔼+3.11% EPAcK 🔼+4.99% Dalex Vision 🔼+2.97% Anidaso Fund 🔼+1.61% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.91% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+3.26% EDC Balanced 🔼+0.66% CM Fund 🔼+4.88% CDH Balanced 🔼+3.19% Bfund 🔼+2.37% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.22% Galaxy Mfund 🔼+9.39% Republic Unit 🔼+10.88% SEM MoneyPlus 🔼+14.46% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+3.36% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.25% SEM Income 🔼+2.19% Mfund 🔼+2.75% EdiFund T1 🔼+2.70% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $68.55 +0.05 +0.07% *Natural Gas 🏭 $/million BTUS $2.83 +0.01 +0.39% *Gold 👑 $/troy ounce $1,318.90 +17.20 +1.32% *Silver 💍 $/troy ounce $15.61 +0.29 +1.87% *Corn 🌽 $/bushel $371.75 +0.25 +0.07% *Cocoa 🍫 $/metric ton  $2,143.00 -59.00 -2.68% *Coffee ☕ ¢/pound  $94.75 -1.90 -1.97% *Sugar🎂 ¢/pound $12.74 -0.04 -0.31%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 19/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 The government of Ghana has agreed a $180 million deal with the Exim Bank of India to finance various development projects in the country. This was announced by Ghana’s Vice-President, Dr Mahamudu Bawumia, who stated on Monday, 18 March 2019 that the agreements will be signed between the two countries in April 2019. Dr Bawumia revealed that the decision was taken after engagements with Mr David Raaquinha, Exim Bank of India President and also John Deere, an executive of TATA Africa Holding (GH) Limited. 🚩 Rating agency Standards and Poor's (S&P) Global has rated Ghana’s upcoming $3 billion Eurobond ‘B/Stable’. The rating agency holds the view that Ghana currently has the capacity to meet its financial obligation but faces major ongoing uncertainties that could impact its financial commitment on the obligation. 🚩 MTN, Ghana’s leading telecommunications service provider, has launched its 4G+ service to provide faster data speeds with widest coverage for its customers. The 4G+ service runs on 4G LTE Advanced technology using the combination of the 800MHz and 2600MHz for carrier aggregation which is an enhancement on the 4G LTE experience. This provides more capacity and enhanced data speed of up to 20x if migrating from 3G to 4G+ and 5x if migrating from 4G to 4G+. 🚩 For the better part of the first quarter of 2019, gold, which remains the largest foreign exchange earner for the country has being trading on the international market at lower prices than it did last in the same period of last year. According to data from investing.com, gold prices stood at between US$1348.20 per ounce and US$1358.40 per ounce to end the first quarter of 2018. However the situation for this year has deteriorated significantly, as the preciouso metal has struggled to stay above the key level of US$ 1,300 per ounce level. 🚩 The Public Utilities Regulatory Commission (PURC) is visiting the ongoing construction site of the road interchange at Pokuase on Monday, March 18. The construction work has necessitated the diversion of GRIDCo’s 330kV transmission line towers that run from Tema to Aboadze, plunging parts of the country into darkness. The PURC said the visit will afford them the opportunity to have first-hand information on what transpired and also know the progress of work. 🚩 Ghana is to become self-sufficient in rice production by the year 2025. This may sound ridiculous but certainly not impossible. The disclosure is couched in the Akufo-Addo government’s newly introduced initiative on rice production, strategically structured as an arm of its flagship Planting for Food and Jobs (PFJ) programme, to boost the production of the crop in the country. Ghana is said to be importing rice close to the tune of $1billion annually with an apparent negative effect on the national economy 🚩 The chiefs and people of Buipe in the Central Gonja District in Savannah Region have welcomed the appointment of Mrs. Gabiana Gbanwaa as the new General Manager of the Produce Buying Company (PBC) Shea Processing factory in Buipe. They are optimistic that, with her decades experience in both the civil service and in the corporate world she would be able to introduce innovative ideas that would help reposition the factory which had been faced with numerous challenges. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2374 Sell 5.2426 GB£Gh¢ Buy 6.9123 Sell 6.9213 CAD$Gh¢ Buy 3.9208 Sell 3.9247 JP¥Gh¢ Buy 0.0470 Sell 0.0470 ZARGh¢ Buy 0.3626 Sell 0.3631 EU€Gh¢ Buy 5.9364 Sell 5.9410 CHN¥Gh¢ Buy 0.7801 Sell 0.7802 Gh¢CFA Buy 110.41 Sell 110.52 Gh¢NG₦ Buy 58.42 Sell 58.48 BITCOIN Trading Price $4,028.07 ▲$53.22 ▲1.72% ETHEREUM Trading Price $139.17 ▲$2.14 ▲2.55% RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.98% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE No gainers for today 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE BOPP -14.96% ➡️Gh¢4.15 PZC -2.44% ➡️Gh¢0.40 EGL -1.34% ➡️Gh¢2.21 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1929% Interest Rate 14.7150% 182 - Day Discount Rate 14.0833% Interest Rate 15.1501% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +50.00% ➡️Gh¢5.10 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ACCESS +12.68% ➡️Gh¢4.00 ALW +12.50% ➡️Gh¢0.09 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GOIL -18.59% ➡️Gh¢2.54 BOPP -18.47% ➡️Gh¢4.15 SIC -15.79% ➡️Gh¢0.16 TBL -13.04% ➡️Gh¢0.20 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,914.10 +65.23 +0.25% *S&P 500 🏦 2,832.94 +10.46 +0.37% *Nasdaq Index📲💻  7,714.48 +25.95 +0.34% * NYSE Composite Index 12,781.42 +65.65 +0.52% *London FTSE 100 7,299.19 +70.91 +0.98% *Germany DAX 11,657.06 -28.63 -0.25% *Japan NIKKEI 225 21,561.96 -22.54 -0.10% *Hong Kong HANG SENG  29,349.79 -59.22 -0.20% * Shanghai Shenzhen 300 3,835.65 -16.10 -0.42% *S&P/ASX 200 Index 6,184.80 -5.73 -0.09% *Bloomsberg EU 500 257.24 +0.73 +0.28% *FTSE/JSE South Africa Top40 50,388.59 +704.56 +1.42% *Nairobi SE 20 Share 2,903.80 +7.76 +0.27% *Nigeria SE Main-Board Index 31,125.39 -17.33 -0.06% *GSE Composite Index 2451.14 -3.20 (-0.13%) *GSE Financial Index 2145.70 -0.97 (-0.05%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+12.33% Republic Equity 🔼+1.82% Omega Equity 🔼+4.13% HeritageFund 🔻-1.19% Legacy Trust 🔼+3.11% EPAcK 🔼+4.99% Dalex Vision 🔼+2.97% Anidaso Fund 🔼+1.61% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.91% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+3.26% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+3.19% Bfund 🔼+2.37% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.22% Galaxy Mfund 🔼+9.39% Republic Unit 🔼+10.88% SEM MoneyPlus 🔼+14.46% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+3.36% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.25% SEM Income 🔼+2.19% Mfund 🔼+2.75% EdiFund T1 🔼+2.70% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.60 +0.06 +0.09% *Natural Gas 🏭 $/million BTUS $2.84 -0.01 -0.25% *Gold 👑 $/troy ounce $1,307.40 +5.90 +0.45% *Silver 💍 $/troy ounce $15.41 +0.08 +0.54% *Corn 🌽 $/bushel $371.75 +0.25 +0.07% *Cocoa 🍫 $/metric ton  $2,196.00 -1.00 -0.05% *Coffee ☕ ¢/pound  $96.85 -0.95 -0.97% *Sugar🎂 ¢/pound $96.85 -0.95 -0.97%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 18/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Ghana has signed a €40 million facility grant with the European Union aimed at promoting investments and job creation. This was announced by the Information Minister at a press briefing on Sunday. This financing agreement is the last programme to be signed from Ghana’s indicative allocation of 323 million Euros under the 11th European Development Fund and National Indicative Programme. These programmes span between 2014 and 2020. 🚩 Rating agency, Standards and Poor's (S&P) Global has maintained its 'B/B' long- and short-term foreign and local sovereign credit ratings on Ghana following pressure on public finances, with interest payments representing over 30% of government revenues. S&P Global also assigned a stable outlook in a statement issued on Friday, 15 March 2019 due to what it described as fairly strong growth prospects. This comes in the wake of government eyeing a US$3 billion Eurobond, in the coming weeks, as a stopgap measure for the weakening Ghana Cedi which strengthened by 0.2 percent within the week to 5.6452 per the US Dollar, the first weekly gain since 15 February 2019. 🚩 Fuel prices are likely to hit an all-time high by close of March, according to the Institute for Energy Security (IES). IES said the expected increment is due to external shocks. Princes of fuel have crossed the GhC5 mark at the pumps. “The expected increment is not only informed by the marginal rise in finished product prices on the International Market, but largely attributable to the 4.29 percent depreciation of the Cedi against the Dollar over the period. It has not escaped the attention of IES that whereas Ghanaians are complaining of the high cost of fuel, Oil Marketing Companies (OMCs) are also complaining of squeezed margins even as NPA touts its ‘studious’ application of the PRSL,” the IES said in a statement. 🚩 Directors of Gold Coast Fund Management (GCFM) has informed customers and the general public that it is observing the commitments made to deliver regular disbursements to clients on a quarterly basis. In addition to the GHS60 million disbursed prior to March, the company made disbursements last week and are on course to continue to meet the needs of more customers this coming week. Priorities this month going forward according to GCFM are clear are: to clear arrears from 2018, money due to those whose requests for redemptions and interest were processed and approved; and payments due for emergencies and to pensioners. Payments will be made from the domicile branches throughout the country and not from our Head Office. 🚩 A Shea Butter Processing Facility and Warehouse have been inaugurated at Gizza-Gunda, a community in the Kumbungu District, to help women shea collectors and processors in the area to improve on their operations for increased income. The United States Government, through the United States Agency for International Development (USAID), supported the construction of the processing facility and warehouse, which will benefit 600 women involved in the sector in the area. 🚩 The Cabinet of the Republic of Ghana has approved a Policy on Ghanaian content and Participation in the Downstream Petroleum Industry in Ghana. Kojo Oppong Nkrumah, Information Minister, said the policy is intended to ensure a Ghanaian-driven and Ghanaian owned petroleum downstream industry capable of attracting increased local value-added investments. 🚩 Nvidia announced it would acquire Mellanox (NASDAQ:MLNX) for $125 per share in cash, or a total enterprise value of about $6.9B. The deal, which was sought after by several bidders including Intel (NASDAQ:INTC), would be Nvidia's (NASDAQ:NVDA) biggest-ever acquisition and bolster its business of making chips for data centers. The company expects to close the acquisition by the end of 2019. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2374 Sell 5.2426 GB£Gh¢ Buy 6.9521 Sell 6.9611 CAD$Gh¢ Buy 3.9244 Sell 3.9284 JP¥Gh¢ Buy 0.0470 Sell 0.0470 ZARGh¢ Buy 0.3627 Sell 0.3632 EU€Gh¢ Buy 5.9374 Sell 5.9421 CHN¥Gh¢ Buy 0.7803 Sell 0.7811 Gh¢CFA Buy 110.39 Sell 110.48 Gh¢NG₦ Buy 58.42 Sell 58.48 BITCOIN Trading Price $3,972.10 ▲$142.82 ▲4.12% ETHEREUM Trading Price $138.31 ▲$5.02 ▲4.55% RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.98% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE ACCESS +5.26% ➡️Gh¢4.00 EGH +1.44% ➡️Gh¢7.74 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE MTNGH -1.41% ➡️Gh¢0.70 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1929% Interest Rate 14.7150% 182 - Day Discount Rate 14.0833% Interest Rate 15.1501% 364 - Day Discount Rate 15.3904% Interest Rate 18.1898% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +50.00% ➡️Gh¢5.10 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ACCESS +12.68% ➡️Gh¢4.00 ALW +12.50% ➡️Gh¢0.09 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GOIL -18.59% ➡️Gh¢2.54 SIC -15.79% ➡️Gh¢0.16 GCB -13.04% ➡️Gh¢4.00 TBL -13.04% ➡️Gh¢0.20 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,848.87 +138.93 +0.54% *S&P 500 🏦 2,822.48 +14.00 +0.50% *Nasdaq Index📲💻  7,688.53 +57.62 +0.76% * NYSE Composite Index 12,715.77 +55.61 +0.44% *London FTSE 100 7,228.28 +42.85 +0.60% *Germany DAX 11,685.69 +98.22 +0.85% *Japan NIKKEI 225 21,450.85 +163.83 +0.77% *Hong Kong HANG SENG  29,012.26 +160.87 +0.56% * Shanghai Shenzhen 300 3,745.01 +46.52 +1.26% *S&P/ASX 200 Index 6,175.17 -4.41 -0.07% *Bloomsberg EU 500 256.51 +1.97 +0.77% *FTSE/JSE South Africa Top40 49,684.03 +199.00 +0.40% *Nairobi SE 20 Share 2,896.04 +27.23 +0.95% *Nigeria SE Main-Board Index 31,142.72 -70.75 -0.23% *GSE Composite Index 2454.34 -5.25 (-0.21%) *GSE Financial Index 2146.67 13.39 (+0.63%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+12.33% Republic Equity 🔼+1.82% Omega Equity 🔼+4.13% HeritageFund 🔻-1.19% Legacy Trust 🔼+3.11% EPAcK 🔼+4.99% Dalex Vision 🔼+2.97% Anidaso Fund 🔼+1.61% NTHC Horizon 🔼+0.96% ⚖BALANCED FUNDS ⏸YTD% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.91% MyWealth Trust 🔼+2.64% Kiddifund 🔼+0.73% EdiFund T2 🔼+3.26% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+3.19% Bfund 🔼+2.37% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.22% Galaxy Mfund 🔼+9.39% Republic Unit 🔼+10.88% SEM MoneyPlus 🔼+14.46% TTL IncomeHaven 🔼+19.02% ⚙FIXED INCOME FUNDS 🛡YTD%  STANLIB Income 🔼+3.36% SiriusOpportunity 🔼+2.87% Omega Income 🔼+3.25% SEM Income 🔼+2.19% Mfund 🔼+2.75% EdiFund T1 🔼+2.70% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.15 -0.01 -0.01% *Natural Gas 🏭 $/million BTUS $2.79 0.00 -0.11% *Gold 👑 $/troy ounce $1,301.80 -1.10 -0.08% *Silver 💍 $/troy ounce $15.30 -0.02 -0.16% *Corn 🌽 $/bushel $373.25 +3.00 +0.81% *Cocoa 🍫 $/metric ton  $2,197.00 -17.00 -0.77% *Coffee ☕ ¢/pound  $97.80 +0.65 +0.67% *Sugar🎂 ¢/pound $12.52 +0.11 +0.89%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 15/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Parliament Thursday approved the issuance of a Sovereign Guarantee of up to GH¢2 billion in favour of Ghana Amalgamated Trust (GAT) Limited. GAT, a special purpose vehicle (SPV) backed by the government, was incorporated in December 2018 to raise up to GH¢2 billion and invest in five indigenous banks. The aim is to rescue the five indigenous commercial banks that failed to meet the BoG's minimum capital requirement of GH¢400 million. 🚩 Works and Housing Minister Ata Akyea has commended management of Forever Construction and Consultancy Limited (FCCL) highly for its affordable housing scheme. To the Minister, the initiative has the potential of taking care of the accommodation challenges confronting average Ghanaians. As a result, he has suggested to private sectors like FCCL to partner government take its affordable housing project a notch higher. 🚩 Oil marketing companies (OMCs) are bemoaning the dire impact the cedi depreciation is having on their operations. The OMCs warned that they may be forced to increase their prices at the pumps if the rate of depreciation continues. The local currency has depreciated more than 8.5 percent this year, hitting GH¢5.54 from GH¢4.99 at the beginning of the year in forex bureaus. 🚩 Finance Minister, Ken Ofori-Atta says he is upbeat about the turnaround of the depreciating Ghanaian cedi against the major currencies in some few weeks. According to the Finance Minister, the reversal and stability is expected to recur in the next two or so weeks given the capital inflows of about US$900m coming in from Cocobod proceeds and the Eurobond. 🚩 The $280-million Takoradi-3 (T3) thermal plant in the Aboadze Power Enclave in the Shama District in the Western Region has been left idle for about six years due to operational failures. After its inauguration in April 2013, the plant worked for about six months, generating between 60 and 70 megawatts (MW) of power, before it broke down and has since not been fixed. Constructed to generate 132MW, the plant has since the breakdown not added a single megawatt to the national grid. 🚩 Vice-President Dr Mahamudu Bawumia has announced 10 critical policy measures by various Ministries, Departments and Agencies to improve the country’s business environment. A multi-sectoral technical team across government agencies presented the ambitious business reform plan to key stakeholders in Accra yesterday. The reforms cover starting a business, obtaining construction permits, getting electricity, trading across borders, and resolving insolvency. The reforms will take effect between March and June 2019. 🚩 The Public Utilities and Regulatory Commission (PURC) has said it will sanction Power Distribution Services (PDS) Ghana if it finds that the recent power outages breach its service delivery guidelines. Mami Dufie Ofori, Executive Secretary, said the Commission is closely monitoring the development and will initiate investigations into the outages to ascertain the real causes and will not hesitate to apply the required sanctions if need be. The service provider, she added, will be compelled to compensate customers if the investigations find them deserving of blame. 🚩 The two lead growers of cocoa have jointly rejected aspects of a global standard on cocoa production as inimical to the fortunes of smallholder farmers and the cocoa industries in the two countries in general. Ghana and Côte d'Ivoire, who supply about 60 per cent of the world's cocoa, insist that those aspects of the International Standardisation Organisation (ISO) 34101 Standards on Sustainable and Traceable Cocoa production would increase cost, make farmers and their farms vulnerable to third parties and generally impede production when finally implemented. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2374 Sell 5.2426 GB£Gh¢ Buy 6.9500 Sell 6.9590 CAD$Gh¢ Buy 3.9315 Sell 3.9354 JP¥Gh¢ Buy 0.0469 Sell 0.0470 ZARGh¢ Buy 0.3611 Sell 0.3615 EU€Gh¢ Buy 5.9210 Sell 5.9256 CHN¥Gh¢ Buy 0.7800 Sell 0.7807 Gh¢CFA Buy 110.70 Sell 110.79 Gh¢NG₦ Buy 58.42 Sell 58.48 BITCOIN Trading Price $3,861.37 ▲$12.98 ▲0.34% ETHEREUM Trading Price $132.52 ▲$1.29 ▲0.99% RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.51% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE TOTAL +12.83% ➡️Gh¢5.10 GCB +2.56% ➡️Gh¢4.00 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE TBL -13.04% ➡️Gh¢0.20 GOIL -10.25% ➡️Gh¢2.54 EGL -0.44% ➡️Gh¢2.24 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1855% Interest Rate 14.7071% 182 - Day Discount Rate 14.0810% Interest Rate 15.1474% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +50.00% ➡️Gh¢5.10 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GOIL -18.59% ➡️Gh¢2.54 SIC -15.79% ➡️Gh¢0.16 GCB -13.04% ➡️Gh¢4.00 TBL -13.04% ➡️Gh¢0.20 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,709.94 +7.05 +0.03% *S&P 500 🏦 2,808.48 -2.44 -0.09% *Nasdaq Index📲💻  7,630.91 -12.49 -0.16% * NYSE Composite Index 12,660.16 -14.10 -0.11% *London FTSE 100 7,185.43 +26.24 +0.37% *Germany DAX 11,587.47 +15.06 +0.13% *Japan NIKKEI 225 21,507.84 +220.82 +1.04% *Hong Kong HANG SENG  29,094.64 +243.25 +0.84% * Shanghai Shenzhen 300 3,760.53 +62.04+1.68% *S&P/ASX 200 Index 6,175.20 -4.39 -0.07% *Bloomsberg EU 500 254.54 +2.00 +0.79% *FTSE/JSE South Africa Top40 49,485.03 -99.82 -0.20% *Nairobi SE 20 Share 2,868.81 -7.17 -0.25% *Nigeria SE Main-Board Index 31,213.47 -146.81 -0.47% *GSE Composite Index 5.2400 0.0000 (0.00%) *GSE Financial Index 5.9233 0.0006 (+0.01%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+9.92% Republic Equity 🔼+1.68% Omega Equity 🔼+3.50% Legacy Trust 🔼+1.02% EPAcK 🔼+4.77% Dalex Vision 🔼+2.58% Anidaso Fund 🔼+0.06% HeritageFund 🔻-1.25% ⚖BALANCED FUNDS ⏸YTD% MyWealth Trust 🔼+1.43% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.79% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+2.29% Bfund 🔼+2.21% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.34% Republic Unit 🔼+10.89% TTL IncomeHaven 🔼+19.02% SEM MoneyPlus 🔼+14.92% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+3.05% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.45% Mfund 🔼+2.14% NGIS Mfund +1.36% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.25 +0.02 +0.03% *Natural Gas 🏭 $/million BTUS $2.84 -0.02 -0.63% *Gold 👑 $/troy ounce $1,297.70 +2.60 +0.20% *Silver 💍 $/troy ounce $15.26 +0.09 +0.59% *Corn 🌽 $/bushel $370.75 +0.50 +0.14% *Cocoa 🍫 $/metric ton  $2,214.00 -2.00 -0.09% *Coffee ☕ ¢/pound  $97.15 -0.50 -0.51% *Sugar🎂 ¢/pound $12.41 +0.05 +0.40%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline,Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 14/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to 9.0% recorded in January 2019, a Ghana Statistical Service (GSS) report has indicated. According to the GSS, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. Acting Deputy Government Statistician, David YenukwaKombat, made this known to the media on yesterday in Accra. He indicated that the year-on-year non-food inflation rate for February 2019 was 9.7% compared with the rate of 9.5% recorded in January 2019. 🚩 The Northern Electricity Distribution Company (NEDco) says it is raising over $200 million in the form of grants and concessionary loans to improve on its operations. This follows the inability of the company to access a $54-million grant from the Millennium Challenge Corporation (MCC) of then United States to build its delivery capacity for efficient power supply. 🚩 The Ghana Commodity Exchange and Barclays Ghana, a member of the Absa family, signed a Memorandum of Understanding to cooperate with each other in building a framework for the settlement of trades as well as the provision of financial services to exchange actors. As part of this MOU, Barclays Ghana, the biggest lender to the Agriculture Sector in 2018, has agreed to collaborate with GCX in the Warehouse Receipt Financing Programme and be a Settlement Bank to Exchange Members. 🚩 Stakeholders in the Ghana Maritime Authority are calling for the development of a comprehensive Maritime Transport Policy as soon as possible. According to them, such a policy will streamline activities in the maritime sector—enhancing its contribution to trade. The comments were made at the opening ceremony of the National Maritime Transport Policy Workshop held here in Accra. 🚩 The Finance Minister, Ken Ofori-Atta, has assured that the cedi will stabilise in the next few weeks. Speaking to Journalists outside Parliament House Wednesday, March 13, 2019, Mr. Ofori-Atta said government is expecting large inflows of foreign exchange which will help turn around the value of the cedi which has hit a record low of 5.6 to a dollar. Critics have blamed government’s policies for the weakening of the cedi against the U.S. Dollar and other major currencies – a stance Vice President Dr Bawumia Bawumia rejected. 🚩 MTN Group Ltd plans to push ahead with an initial public offering of its Nigeria unit in April or May once Africa’s biggest wireless carrier resolves a $2 billion tax dispute in the country. When the tax matter has been settled, “the board can assign a value to the company and we do an IPO,” spokesman Tobe Okigbo told reporters in Lagos on Wednesday. “It is difficult to put a value on it when there is such an issue.” 🚩 The Management of Ethiopian Airlines in Ghana has commended government and Ghanaians for the support it has received during a period of pain. Genet Michael, the General Manager of the airline in Ghana said she appreciates the warmth and empathy the Airline has received from Ghanaians who have supported them over the years. "I have felt the traditional Ghanaian hospitality and love a lot during this moment of grief. I am really grateful to the good people of Ghana. ➖➖➖➖➖➖➖➖➖ Secure your Tomorrow with *MY OWN PENSION* on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial **170#* and select *Option 9* (Pensions and Insurance) to Begin ➖➖➖➖➖➖➖➖➖ ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2374 Sell 5.2426 GB£Gh¢ Buy 6.9034 Sell 6.9124 CAD$Gh¢ Buy 3.9316 Sell 3.9355 JP¥Gh¢ Buy 0.0470 Sell 0.0471 ZARGh¢ Buy 0.3633 Sell 0.3637 EU€Gh¢ Buy 5.9216 Sell 5.9262 CHN¥Gh¢ Buy 0.7805 Sell 0.7813 Gh¢CFA Buy 110.69 Sell 110.77 Gh¢NG₦ Buy 58.42 Sell 58.48 BITCOIN Trading Price $3,853.85 ▲$3.96 ▲0.10% ETHEREUM Trading Price $131.48 ▲$0.28 ▲0.21% RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.31% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE GCB +2.63% ➡️Gh¢3.90 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -1.74% ➡️Gh¢2.83 EGH -1.55% ➡️Gh¢7.63 〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1855% Interest Rate 14.7071% 182 - Day Discount Rate 14.0810% Interest Rate 15.1474% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +32.94% ➡️Gh¢4.52 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 SIC -15.79% ➡️Gh¢0.16 GCB -15.22% ➡️Gh¢3.90 MTNGH -10.13% ➡️Gh¢0.71 GOIL -9.29% ➡️Gh¢2.83 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,702.89 +148.23 +0.58% *S&P 500 🏦 2,810.92 +19.40 +0.69% *Nasdaq Index📲💻  7,643.41 +52.38 +0.69% * NYSE Composite Index 12,674.26 +91.45 +0.73% *London FTSE 100 7,159.19 +8.04 +0.11% *Germany DAX 11,572.41 +48.24 +0.42% *Japan NIKKEI 225 21,331.47 +41.23 +0.19% *Hong Kong HANG SENG  28,771.72 -35.73 -0.12% * Shanghai Shenzhen 300 3,693.80 -30.39 -0.82% *S&P/ASX 200 Index 6,179.60 +18.42 +0.30% *Bloomsberg EU 500 252.54 +1.66 +0.66% *FTSE/JSE South Africa Top40 49,584.85 +116.42 +0.24% *Nairobi SE 20 Share 2,875.98 -9.95 -0.34% *Nigeria SE Main-Board Index 31,360.28 +46.92 +0.15% *GSE Composite Index 5.2400 0.0000 (0.00%) *GSE Financial Index 5.9239 -0.0144 (-0.24%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+9.92% Republic Equity 🔼+1.68% Omega Equity 🔼+3.50% Legacy Trust 🔼+1.02% EPAcK 🔼+4.77% Dalex Vision 🔼+2.58% Anidaso Fund 🔼+0.06% HeritageFund 🔻-1.25% ⚖BALANCED FUNDS ⏸YTD% MyWealth Trust 🔼+1.43% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.79% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+2.29% Bfund 🔼+2.21% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.34% Republic Unit 🔼+10.89% TTL IncomeHaven 🔼+19.02% SEM MoneyPlus 🔼+14.92% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+3.05% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.45% Mfund 🔼+2.14% NGIS Mfund +1.36% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $67.81 +0.26 +0.38% *Natural Gas 🏭 $/million BTUS $2.83 +0.01 +0.50% *Gold 👑 $/troy ounce $1,303.50 -5.80 -0.44% *Silver 💍 $/troy ounce $15.38 -0.08-0.49% *Corn 🌽 $/bushel $368.00 +1.50 +0.41% *Cocoa 🍫 $/metric ton  $2,216.00 -1.00 -0.05% *Coffee ☕ ¢/pound  $97.65 +1.65 +1.72% *Sugar🎂 ¢/pound $12.36 +0.03 +0.24%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 12/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Societe Generale has expressed its readiness to support Small and Medium-sized Enterprises (SMEs) with more than GH¢700 million funding. According to the bank, the support is part of its global growth strategy for this year and also in the bid to support the development of the country through small businesses. Speaking to JoyBusiness after his outfit’s engagement with the media, Managing Director of SG Ghana, Hakim Ouzzani said, “We have for the three coming years, more than GH¢700 million, as an envelope for the financing of the SMEs in Ghana.” 🚩 Following recommendation by directors of MTN Ghana, shareholders are set to receive as payment of final dividend to the tune of about Gh¢368.71 million for the 2018 financial year. According to the company’s 2018 financial statements, the number of ordinary shares in issue is 12,290,474,360, of which each share has earned Gh¢0.03. Dividend amounting to Gh¢1.31 billion was declared for the year ended December 31, 2018 (2017: Gh¢470 million, Gh¢0.04 per share). This consisted of a special dividend of Gh¢1.07 billion paid to pre-initial public offering (IPO) shareholders and an interim dividend of Gh¢245 million (Gh¢0.02 per share) paid to post-IPO shareholders. 🚩 The hefty tariff on soybeans from the United States has caused a 17 percent import decrease of the produce into China in February 2019, being the lowest level recorded since 2015, General Administration of Customs – Chinese statistical agency, has revealed. In 2017, U.S. soybean exports to China reached a volume of US$14.57 billion. Currently, the United States is the world’s largest soybean producer and second largest exporter, after Brazil. On the other hand, China is the world’s largest importer of soybeans – imported 91 million tonnes in 2018 market year as against 94 million tones the previous year. 🚩 Food commodity prices outlook for the month of March have been projected to drop. Data released on the performance of commodities for the month of February by Esoko, explained that this projection is based on the sentiments of farmers to sell all their old stock to raise enough money to purchase input for the new season. However, the net effects of the close of February commodity trading, with price picking up, the early part of March should be expected to see this effect remaining. 🚩 The Bank of Ghana(BoG) says it is confident that works on the Payment Systems and Services Bill being done by parliament will be completed by the end of June this year. The Payment Systems and Services Bill has been in parliament for about 2 years. When passed into law it is expected to further strengthen the regulatory environment and provide additional support for non-banks to establish, and operate businesses offering electronic payment services. 🚩 As part of efforts to sanitize and regularize mining operations in the country, the Ministry of Transport (MOT) has called on owners of mining companies to register all earth moving equipment no later than March 31, 2019. According to the Ministry in a press statement, the registration of the vehicles should be done with the Driver Vehicle and Licensing Authority (DVLA), the Authority mandates by law to license and register all motorized vehicles. 🚩 Parliament has passed into law an amendment of the Ghana Civil Aviation Act to further improve safety and strengthen security in the aviation industry.The amendment is to ensure that Ghana is ICAO (International Civil Aviation Organization) compliant. According to Joseph Kofi Adda, the Aviation Minister who moved the motion for the adoption of the bill on Friday, the sector is already doing well by global standards. ➖➖➖➖➖➖➖➖➖ *Secure your Tomorrow with MY OWN PENSION on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial *170# and select Option 9 (Pensions and Insurance) to Begin* ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2326 Sell 5.2378 GB£Gh¢ Buy 6.8458 Sell 6.8547 CAD$Gh¢ Buy 3.9041 Sell 3.9085 JP¥Gh¢ Buy 0.0471 Sell 0.0471 ZARGh¢ Buy 0.3646 Sell 0.3650 EU€Gh¢ Buy 5.8828 Sell 5.8874 CHN¥Gh¢ Buy 0.7780 Sell 0.7787 Gh¢CFA Buy 111.42 Sell 111.50 Gh¢NG₦ Buy 58.47 Sell 58.53 BITCOIN Trading Price $3,847.42 ▼$-48.21 ▼-1.24% ETHEREUM Trading Price $132.30 ▼$-2.82 ▼-2.09% RIPPLE Trading Price $0.30 ▼$-0.01 ▼-0.89% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CAL +3.00% ➡️Gh¢1.03 EGL +0.90% ➡️Gh¢2.25 GCB +0.26% ➡️Gh¢3.81 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -0.69% ➡️Gh¢2.88 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1855% Interest Rate 14.7071% 182 - Day Discount Rate 14.0810% Interest Rate 15.1474% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +33.82% ➡️Gh¢4.55 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -17.17% ➡️Gh¢3.81 SIC -15.79% ➡️Gh¢0.16 MTNGH -8.86% ➡️Gh¢0.72 GOIL -7.69% ➡️Gh¢2.88 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,650.88 +200.64 +0.79% *S&P 500 🏦 2,783.30 +40.23+1.47% *Nasdaq Index📲💻  7,558.06 +149.92 +2.02% * NYSE Composite Index 12,561.26 +146.13 +1.18% *London FTSE 100 7,130.62 +26.31 +0.37% *Germany DAX 11,543.48 +85.64 +0.75% *Japan NIKKEI 225 21,125.09 +99.53 +0.47% *Hong Kong HANG SENG  28,503.30 +274.88+0.97% * Shanghai Shenzhen 300 3,729.95 +72.37 +1.98% *S&P/ASX 200 Index 6,180.19 -23.57 -0.38% *Bloomsberg EU 500 251.10 +1.79 +0.72% *FTSE/JSE South Africa Top40 49,387.31 +154.18 +0.31% *Nairobi SE 20 Share 2,893.18 -22.36 -0.77% *Nigeria SE Main-Board Index 31,636.66 -287.85 -0.90% *GSE Composite Index 2478.24 1.69 (+0.07%) *GSE Financial Index 2132.53 4.74 (+0.22%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+9.92% Republic Equity 🔼+1.68% Omega Equity 🔼+3.50% Legacy Trust 🔼+1.02% EPAcK 🔼+4.77% Dalex Vision 🔼+2.58% Anidaso Fund 🔼+0.06% HeritageFund 🔻-1.25% ⚖BALANCED FUNDS ⏸YTD% MyWealth Trust 🔼+1.43% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.79% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+2.29% Bfund 🔼+2.21% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.34% Republic Unit 🔼+10.89% TTL IncomeHaven 🔼+19.02% SEM MoneyPlus 🔼+14.92% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+3.05% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.45% Mfund 🔼+2.14% NGIS Mfund +1.36% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $97.20 -1.30 -1.32% *Natural Gas 🏭 $/million BTUS $66.66 +0.92 +1.40% *Gold 👑 $/troy ounce $1,293.40 -5.90 -0.45% *Silver 💍 $/troy ounce $15.33 -0.02 -0.16% *Corn 🌽 $/bushel $362.00 -2.25 -0.62% *Cocoa 🍫 $/metric ton  $2,202.00 +4.00 +0.18% *Coffee ☕ ¢/pound  $97.20 -1.30 -1.32% *Sugar🎂 ¢/pound $12.29 +0.11 +0.90%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 04/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 Ghana, currently the 11 biggest economy in Africa, is expected to become the fourth fastest-growing economy in Africa this year, according to the International Monetary Fund (IMF). The West African country is expected to hit 7.6 per cent Gross Domestic Product (GDP) growth rate, from the projected 6.3 per cent GDP in 2018, the IMF said, adding “Ghana is an economic powerhouse in West Africa with a GDP size of approximately $51 billion.” 🚩 Consumers should brace themselves to pay more for fuel at the various pumps as the price exceeds 5 cedis per litre. This is according to the Institute of Energy Security (IES). The IES says the increment in price of fuel is occasioned by the 6.33% rise in average Brent crude price, as well as a corresponding 8.81% and 5.56% increase in prices of Gasoline and Gasoil on the international market respectively. The IES added the increase can also be attributed to the cumulative depreciation of the Cedi against the U.S dollar. 🚩 A release by the Bank of Ghana on Friday, effectively has confirmed that two of the three ongoing mergers between universal banks in Ghana have been completed. The release lists 23 commercial banks as duly registered by the central bank. The list includes First Atlantic Bank, but not Energy Commercial Bank, which it has been in the process of acquiring since December last year; and Omni-BSIC Bank which is the result of a merger between the erstwhile Omni Bank and BSIC (otherwise known as Sahel Sahara Bank), both of which had been in merger negotiations since mid-2018, as a marriage of “two equals” as confirmed by the name now adopted for the merged entity. 🚩 A global cocoa surplus is expected in the 2018/19 season, Informa’s Agribusiness intelligence said on Thursday, with record production driven by favourable weather in West Africa. Global cocoa production was seen hitting a record high of 4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report. The projected surplus was slightly higher than the median forecast of 30,000 tonnes in a Reuters poll earlier this month. The ICCO’s most recent estimate for the 2017/2018 season was a small surplus of 22,000 tonnes. 🚩 Parliament has approved a US$10 million loan facility made available by the African Development Bank (AfDB) to begin the implementation of a project aimed at lowering credit risk in the agriculture sector. In the 2019 budget of the Agriculture Ministry, an amount of US$410 million was voted to de-risk the sector through agricultural insurance cover for farmers and their produce. AfDB subsequently committed to provide a loan facility to support this initiative. 🚩 The President, His Excellency Nana Addo Dankwa Akufo Addo, has appointed Mr Michael Ansah, as Chief Executive Officer of the newly established Ghana Integrated Aluminium Development Corporation. The Government has outlined its intent to develop an Integrated Aluminium Industry which will be one of the major pillars to drive the industrial transformation and accelerated development of the Ghanaian economy. 🚩 Royal Dutch Shell Plc  is facing prosecution in the Netherlands over a license in Nigeria, intensifying its legal troubles from a transaction that has dogged the company for years. “We have been informed by the Dutch Public Prosecutor’s Office that they are nearing the conclusion of their investigation and are preparing to prosecute,” The Hague-based Shell said Friday. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1976 Sell 5.2028 GB£Gh¢ Buy 6.8988 Sell 6.9078 CAD$Gh¢ Buy 3.9309 Sell 3.9349 JP¥Gh¢ Buy 0.0465 Sell 0.0466 ZARGh¢ Buy 0.3671 Sell 0.3675 EU€Gh¢ Buy 5.9237 Sell 5.9284 CHN¥Gh¢ Buy 0.7758 Sell 0.7761 Gh¢CFA Buy 110.65 Sell 110.73 Gh¢NG₦ Buy 58.85 Sell 58.91 BITCOIN Trading Price $3,781.20 ▼$-24.37 ▼-0.64% ETHEREUM Trading Price $130.34 ▼$-1.11 ▼-0.84% RIPPLE Trading Price $0.31 ▼$-0.01 ▼-1.26% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE ETI +6.67% ➡️Gh¢0.16 CAL +5.10% ➡️Gh¢1.03 MTNGH +1.37% ➡️Gh¢0.74 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE EGH -6.39% ➡️Gh¢7.03 GOIL -0.68% ➡️Gh¢2.90 TOTAL -0.22% ➡️Gh¢4.59 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1868% Interest Rate 14.7085% 182 - Day Discount Rate 14.0676% Interest Rate 15.1320% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +35.00% ➡️Gh¢4.59 SOGEGH +30.67% ➡️Gh¢0.98 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE GCB -23.70% ➡️Gh¢3.51 RBGH -20.29% ➡️Gh¢ ➡️Gh¢0.55 CMLT -10.00% ➡️Gh¢0.09 GOIL -7.05% ➡️Gh¢2.90 MTNGH -6.33% ➡️Gh¢0.74 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 26,026.32 +110.32 +0.43% *S&P 500 🏦 2,803.69 +19.20 +0.69% *Nasdaq Index📲💻  7,595.35 +62.82 +0.83% * NYSE Composite Index 12,700.67 +55.86 +0.44% *London FTSE 100 7,106.73 +32.00 +0.45% *Germany DAX 11,601.68 +86.04 +0.75% *Japan NIKKEI 225 21,602.69 +217.53 +1.02% *Hong Kong HANG SENG  28,812.17 +178.99 +0.63% * Shanghai Shenzhen 300 3,749.71 +80.34 +2.19% *S&P/ASX 200 Index 6,192.73 +23.74 +0.38% *Bloomsberg EU 500 251.81 +1.22 +0.49% *FTSE/JSE South Africa Top40 49,841.27 +174.17 +0.35% *Nairobi SE 20 Share 2,916.19 +21.99 +0.76% *Nigeria SE Main-Board Index 31,827.24 +105.48 +0.33% *GSE Composite Index 2482.10 3.06 (+0.12%) *GSE Financial Index 2090.10 -15.85 (-0.75%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $65.07 -1.24 -1.87% *Natural Gas 🏭 $/million BTUS $2.86 +0.05 +1.67% *Gold 👑 $/troy ounce $1,299.20 -16.90 -1.28% *Silver 💍 $/troy ounce $15.26 -0.38 -2.42% *Corn 🌽 $/bushel $373.00 +2.25 +0.61% *Cocoa 🍫 $/metric ton  $2,217.00 -30.00 -1.34% *Coffee ☕ ¢/pound  $100.20 +1.75 +1.78% *Sugar🎂 ¢/pound $12.62 -0.16 -1.25%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry Danquah
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BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
🚩 The Minister for Energy, John Peter Amewu has strongly indicated that government will waste no time in reassuming the operations of the Electricity Company of Ghana (ECG) if the new managers, Power Distribution Services (PDS) fail to meet their key performance indicators. PDS is taking over the management and operations of the ECG after meralco consortium, a major shareholder in PDS won a bid to manage the ECG. Speaking at a handing over ceremony in Accra, Energy Minister Mr. Amewu stated that the operations of PDS will closely be monitored to ensure performance delivery. 🚩 The Receiver of defunct Heritage Bank, Vish Ashiagbor has directed that all branches of the bank across the country should cease operations except the Tema Community 1, and Suame – Kumasi branches. A letter by Vish Ashiagbor sighted by Citi Business News said “Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, 28 February 2019”. It added that “unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office daily”. 🚩 The United States of America has expressed her commitment to fully support Ghana’s power sector towards transforming the economy and achieving the “Ghana Beyond Aid” agenda. The US government pledged to continue investing hundreds of millions of dollars in the power sector to aid the government of Ghana’s industrial agenda. Madam Stephanie Sullivan, the US Ambassador to Ghana, speaking at the official transfer of Electricity Company of Ghana’s (ECG) assets and operations to Power Distribution Services Ghana Limited (PDS), in Accra, on Wednesday, said the take-over would aid in restructuring Ghana’s energy sector through private sector participation. 🚩 A factory under construction in the Tano North District to produce bricks for housing and related projects will soon be completed. The factory, which is under the government’s flagship project, One-District-One-Factory (1D1F), is about 85% complete, with the remaining 15% expected to be completed in two weeks’ time. Owners of the brick factory, Rhovanni Royal Limited, led the National Coordinator of the 1D1F project, Gifty Ohene-Konadu, on a tour of the facility recently for her to know the level of progress of the brick factory. It’s expected to commence operations in the second quarter of this year. 🚩 President of Dangote Group, Aliko Dangote has emerged as 64th richest person in the world with an estimated $16.6 billion, as against his previous ranking of 103rd in the world. Aliko Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 500 billionaires, as released last week by Bloomberg in its yearly billionaires list. 🚩 About 60 economically viable but struggling businesses in both private and public sector have received financial and technical support as part of stimulus package under the National Industrial Revitalization Program. According to Deputy Minister of Trade and Industry, Carlos Ahenkora, the program has been successful over the two years but hoping to bring more businesses on board by the end of the year. The National Industrial Revitalization Programme is an initiative by the government to revive struggling businesses with the potential to expand if given support. 🚩 BlackBerry has filed a patent infringement lawsuit accusing Twitter (NYSE:TWTR) of illegally using technology in its mobile messaging applications that had been developed by the former smartphone maker. The suit resembles previous patent infringement cases that BlackBerry (NYSE:BB) filed against Facebook (NASDAQ:FB) and Snap (NYSE:SNAP) - which are still pending - according to records with the U.S. District Court in Los Angeles. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1726 Sell 5.1778 GB£Gh¢ Buy 6.8656 Sell 6.8751 CAD$Gh¢ Buy 3.9212 Sell 3.9255 JP¥Gh¢ Buy 0.0464 Sell 0.0465 ZARGh¢ Buy 0.3683 Sell 0.3687 EU€Gh¢ Buy 5.8771 Sell 5.8827 CHN¥Gh¢ Buy 0.7731 Sell 0.7735 Gh¢CFA Buy 111.51 Sell 111.61 Gh¢NG₦ Buy 59.14 Sell 59.20 BITCOIN Trading Price $3,800.77 ▲$55.01 ▲1.47% ETHEREUM Trading Price $134.94 ▲$4.23 ▲3.23% RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE EGH +7.29% ➡️Gh¢7.51 CAL +3.16% ➡️Gh¢0.98 EGL +0.46% ➡️Gh¢2.18 GCB +0.29% ➡️Gh¢3.51 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -0.34% ➡️Gh¢2.92 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1863% Interest Rate 14.7079% 182 - Day Discount Rate 14.0680% Interest Rate 15.1324% 364 - Day Discount Rate 15.3661% Interest Rate 19.7500% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +35.29% ➡️Gh¢4.60 SOGEGH +30.67% ➡️Gh¢0.98 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE GCB -23.70% ➡️Gh¢3.51 RBGH -20.29% ➡️Gh¢0.55 CMLT -10.00% ➡️Gh¢0.09 MTNGH -7.59% ➡️Gh¢0.73 GOIL -6.41% ➡️Gh¢2.92 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,916.00 -69.16 -0.27% *S&P 500 🏦 2,792.38 -1.52 -0.05% *Nasdaq Index📲💻  7,532.53 -21.98 -0.29% * NYSE Composite Index 12,644.80 -45.07 -0.36% *London FTSE 100 7,074.73 -32.47 -0.46% *Germany DAX 11,515.64 +28.31 +0.25% *Japan NIKKEI 225 21,385.16 -171.35 -0.79% *Hong Kong HANG SENG  28,633.18 -124.26 -0.43% * Shanghai Shenzhen 300 3,669.37 -9.02 -0.25% *S&P/ASX 200 Index 6,168.99 +18.72 +0.30% *Bloomsberg EU 500 250.59 +0.37 +0.15% *FTSE/JSE South Africa Top40 49,667.10 -287.95 -0.58% *Nairobi SE 20 Share 2,894.20 -38.20 -1.30% *Nigeria SE Main-Board Index 31,721.76 -522.48 -1.62% *GSE Composite Index 2479.04 18.30 (+0.74%) *GSE Financial Index 2105.95 35.76 (+1.73%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $66.03 -0.36 -0.54% *Natural Gas 🏭 $/million BTUS $2.81 +0.01 +0.29% *Gold 👑 $/troy ounce $1,314.40 -6.80 -0.51% *Silver 💍 $/troy ounce $15.64 -0.13 -0.80% *Corn 🌽 $/bushel $370.75 -3.00 -0.80% *Cocoa 🍫 $/metric ton  $2,247.00 -66.00 -2.85% *Coffee ☕ ¢/pound  $98.45 -0.50 -0.51% *Sugar🎂 ¢/pound $12.78 -0.19 -1.46%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline. Contact Prince Henry via: ☎Mobile: +233(0)50-002-3155 📧E-mail: tthenry83@gmail.com 👥Facebook:  Prince Henry Danquah 💬Twitter: @princehenry_1 ❗PLEASE SHARE ❗ BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019 🚩 The Minister for Energy, John Peter Amewu has strongly indicated that government will waste no time in reassuming the operations of the Electricity Company of Ghana (ECG) if the new managers, Power Distribution Services (PDS) fail to meet their key performance indicators. PDS is taking over the management and operations of the ECG after meralco consortium, a major shareholder in PDS won a bid to manage the ECG. Speaking at a handing over ceremony in Accra, Energy Minister Mr. Amewu stated that the operations of PDS will closely be monitored to ensure performance delivery. 🚩 The Receiver of defunct Heritage Bank, Vish Ashiagbor has directed that all branches of the bank across the country should cease operations except the Tema Community 1, and Suame – Kumasi branches. A letter by Vish Ashiagbor sighted by Citi Business News said “Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, 28 February 2019”. It added that “unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office daily”. 🚩 The United States of America has expressed her commitment to fully support Ghana’s power sector towards transforming the economy and achieving the “Ghana Beyond Aid” agenda. The US government pledged to continue investing hundreds of millions of dollars in the power sector to aid the government of Ghana’s industrial agenda. Madam Stephanie Sullivan, the US Ambassador to Ghana, speaking at the official transfer of Electricity Company of Ghana’s (ECG) assets and operations to Power Distribution Services Ghana Limited (PDS), in Accra, on Wednesday, said the take-over would aid in restructuring Ghana’s energy sector through private sector participation. 🚩 A factory under construction in the Tano North District to produce bricks for housing and related projects will soon be completed. The factory, which is under the government’s flagship project, One-District-One-Factory (1D1F), is about 85% complete, with the remaining 15% expected to be completed in two weeks’ time. Owners of the brick factory, Rhovanni Royal Limited, led the National Coordinator of the 1D1F project, Gifty Ohene-Konadu, on a tour of the facility recently for her to know the level of progress of the brick factory. It’s expected to commence operations in the second quarter of this year. 🚩 President of Dangote Group, Aliko Dangote has emerged as 64th richest person in the world with an estimated $16.6 billion, as against his previous ranking of 103rd in the world. Aliko Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 500 billionaires, as released last week by Bloomberg in its yearly billionaires list. 🚩 About 60 economically viable but struggling businesses in both private and public sector have received financial and technical support as part of stimulus package under the National Industrial Revitalization Program. According to Deputy Minister of Trade and Industry, Carlos Ahenkora, the program has been successful over the two years but hoping to bring more businesses on board by the end of the year. The National Industrial Revitalization Programme is an initiative by the government to revive struggling businesses with the potential to expand if given support. 🚩 BlackBerry has filed a patent infringement lawsuit accusing Twitter (NYSE:TWTR) of illegally using technology in its mobile messaging applications that had been developed by the former smartphone maker. The suit resembles previous patent infringement cases that BlackBerry (NYSE:BB) filed against Facebook (NASDAQ:FB) and Snap (NYSE:SNAP) - which are still pending - according to records with the U.S. District Court in Los Angeles. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1726 Sell 5.1778 GB£Gh¢ Buy 6.8656 Sell 6.8751 CAD$Gh¢ Buy 3.9212 Sell 3.9255 JP¥Gh¢ Buy 0.0464 Sell 0.0465 ZARGh¢ Buy 0.3683 Sell 0.3687 EU€Gh¢ Buy 5.8771 Sell 5.8827 CHN¥Gh¢ Buy 0.7731 Sell 0.7735 Gh¢CFA Buy 111.51 Sell 111.61 Gh¢NG₦ Buy 59.14 Sell 59.20 BITCOIN Trading Price $3,800.77 ▲$55.01 ▲1.47% ETHEREUM Trading Price $134.94 ▲$4.23 ▲3.23% RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE EGH +7.29% ➡️Gh¢7.51 CAL +3.16% ➡️Gh¢0.98 EGL +0.46% ➡️Gh¢2.18 GCB +0.29% ➡️Gh¢3.51 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -0.34% ➡️Gh¢2.92 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1863% Interest Rate 14.7079% 182 - Day Discount Rate 14.0680% Interest Rate 15.1324% 364 - Day Discount Rate 15.3661% Interest Rate 19.7500% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +35.29% ➡️Gh¢4.60 SOGEGH +30.67% ➡️Gh¢0.98 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE GCB -23.70% ➡️Gh¢3.51 RBGH -20.29% ➡️Gh¢0.55 CMLT -10.00% ➡️Gh¢0.09 MTNGH -7.59% ➡️Gh¢0.73 GOIL -6.41% ➡️Gh¢2.92 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,916.00 -69.16 -0.27% *S&P 500 🏦 2,792.38 -1.52 -0.05% *Nasdaq Index📲💻  7,532.53 -21.98 -0.29% * NYSE Composite Index 12,644.80 -45.07 -0.36% *London FTSE 100 7,074.73 -32.47 -0.46% *Germany DAX 11,515.64 +28.31 +0.25% *Japan NIKKEI 225 21,385.16 -171.35 -0.79% *Hong Kong HANG SENG  28,633.18 -124.26 -0.43% * Shanghai Shenzhen 300 3,669.37 -9.02 -0.25% *S&P/ASX 200 Index 6,168.99 +18.72 +0.30% *Bloomsberg EU 500 250.59 +0.37 +0.15% *FTSE/JSE South Africa Top40 49,667.10 -287.95 -0.58% *Nairobi SE 20 Share 2,894.20 -38.20 -1.30% *Nigeria SE Main-Board Index 31,721.76 -522.48 -1.62% *GSE Composite Index 2479.04 18.30 (+0.74%) *GSE Financial Index 2105.95 35.76 (+1.73%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $66.03 -0.36 -0.54% *Natural Gas 🏭 $/million BTUS $2.81 +0.01 +0.29% *Gold 👑 $/troy ounce $1,314.40 -6.80 -0.51% *Silver 💍 $/troy ounce $15.64 -0.13 -0.80% *Corn 🌽 $/bushel $370.75 -3.00 -0.80% *Cocoa 🍫 $/metric ton  $2,247.00 -66.00 -2.85% *Coffee ☕ ¢/pound  $98.45 -0.50 -0.51% *Sugar🎂 ¢/pound $12.78 -0.19 -1.46%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 12/03/2019

  • Mar 12, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 12/03/2019 🚩 Societe Generale has expressed its readiness to support Small and Medium-sized Enterprises (SMEs) with more than GH¢700 million funding. According to the bank, the support is part of its global growth strategy for this year and also in the bid to support the development of the country through small businesses. Speaking to JoyBusiness after his outfit’s engagement with the media, Managing Director of SG Ghana, Hakim Ouzzani said, “We have for the three coming years, more than GH¢700 million, as an envelope for the financing of the SMEs in Ghana.” 🚩 Following recommendation by directors of MTN Ghana, shareholders are set to receive as payment of final dividend to the tune of about Gh¢368.71 million for the 2018 financial year. According to the company’s 2018 financial statements, the number of ordinary shares in issue is 12,290,474,360, of which each share has earned Gh¢0.03. Dividend amounting to Gh¢1.31 billion was declared for the year ended December 31, 2018 (2017: Gh¢470 million, Gh¢0.04 per share). This consisted of a special dividend of Gh¢1.07 billion paid to pre-initial public offering (IPO) shareholders and an interim dividend of Gh¢245 million (Gh¢0.02 per share) paid to post-IPO shareholders. 🚩 The hefty tariff on soybeans from the United States has caused a 17 percent import decrease of the produce into China in February 2019, being the lowest level recorded since 2015, General Administration of Customs – Chinese statistical agency, has revealed. In 2017, U.S. soybean exports to China reached a volume of US$14.57 billion. Currently, the United States is the world’s largest soybean producer and second largest exporter, after Brazil. On the other hand, China is the world’s largest importer of soybeans – imported 91 million tonnes in 2018 market year as against 94 million tones the previous year. 🚩 Food commodity prices outlook for the month of March have been projected to drop. Data released on the performance of commodities for the month of February by Esoko, explained that this projection is based on the sentiments of farmers to sell all their old stock to raise enough money to purchase input for the new season. However, the net effects of the close of February commodity trading, with price picking up, the early part of March should be expected to see this effect remaining. 🚩 The Bank of Ghana(BoG) says it is confident that works on the Payment Systems and Services Bill being done by parliament will be completed by the end of June this year. The Payment Systems and Services Bill has been in parliament for about 2 years. When passed into law it is expected to further strengthen the regulatory environment and provide additional support for non-banks to establish, and operate businesses offering electronic payment services. 🚩 As part of efforts to sanitize and regularize mining operations in the country, the Ministry of Transport (MOT) has called on owners of mining companies to register all earth moving equipment no later than March 31, 2019. According to the Ministry in a press statement, the registration of the vehicles should be done with the Driver Vehicle and Licensing Authority (DVLA), the Authority mandates by law to license and register all motorized vehicles. 🚩 Parliament has passed into law an amendment of the Ghana Civil Aviation Act to further improve safety and strengthen security in the aviation industry.The amendment is to ensure that Ghana is ICAO (International Civil Aviation Organization) compliant. According to Joseph Kofi Adda, the Aviation Minister who moved the motion for the adoption of the bill on Friday, the sector is already doing well by global standards. ➖➖➖➖➖➖➖➖➖ *Secure your Tomorrow with MY OWN PENSION on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial *170# and select Option 9 (Pensions and Insurance) to Begin* ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.2326 Sell 5.2378 GB£Gh¢ Buy 6.8458 Sell 6.8547 CAD$Gh¢ Buy 3.9041 Sell 3.9085 JP¥Gh¢ Buy 0.0471 Sell 0.0471 ZARGh¢ Buy 0.3646 Sell 0.3650 EU€Gh¢ Buy 5.8828 Sell 5.8874 CHN¥Gh¢ Buy 0.7780 Sell 0.7787 Gh¢CFA Buy 111.42 Sell 111.50 Gh¢NG₦ Buy 58.47 Sell 58.53 BITCOIN Trading Price $3,847.42 ▼$-48.21 ▼-1.24% ETHEREUM Trading Price $132.30 ▼$-2.82 ▼-2.09% RIPPLE Trading Price $0.30 ▼$-0.01 ▼-0.89% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CAL +3.00% ➡️Gh¢1.03 EGL +0.90% ➡️Gh¢2.25 GCB +0.26% ➡️Gh¢3.81 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE GOIL -0.69% ➡️Gh¢2.88 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1855% Interest Rate 14.7071% 182 - Day Discount Rate 14.0810% Interest Rate 15.1474% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +33.82% ➡️Gh¢4.55 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -17.17% ➡️Gh¢3.81 SIC -15.79% ➡️Gh¢0.16 MTNGH -8.86% ➡️Gh¢0.72 GOIL -7.69% ➡️Gh¢2.88 🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,650.88 +200.64 +0.79% *S&P 500 🏦 2,783.30 +40.23+1.47% *Nasdaq Index📲💻  7,558.06 +149.92 +2.02% * NYSE Composite Index 12,561.26 +146.13 +1.18% *London FTSE 100 7,130.62 +26.31 +0.37% *Germany DAX 11,543.48 +85.64 +0.75% *Japan NIKKEI 225 21,125.09 +99.53 +0.47% *Hong Kong HANG SENG  28,503.30 +274.88+0.97% * Shanghai Shenzhen 300 3,729.95 +72.37 +1.98% *S&P/ASX 200 Index 6,180.19 -23.57 -0.38% *Bloomsberg EU 500 251.10 +1.79 +0.72% *FTSE/JSE South Africa Top40 49,387.31 +154.18 +0.31% *Nairobi SE 20 Share 2,893.18 -22.36 -0.77% *Nigeria SE Main-Board Index 31,636.66 -287.85 -0.90% *GSE Composite Index 2478.24 1.69 (+0.07%) *GSE Financial Index 2132.53 4.74 (+0.22%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% SEM All-Africa 🔼+9.92% Republic Equity 🔼+1.68% Omega Equity 🔼+3.50% Legacy Trust 🔼+1.02% EPAcK 🔼+4.77% Dalex Vision 🔼+2.58% Anidaso Fund 🔼+0.06% HeritageFund 🔻-1.25% ⚖BALANCED FUNDS ⏸YTD% MyWealth Trust 🔼+1.43% UMB Balanced 🔼+2.42% Republic F Plan 🔼+1.79% Kiddifund 🔼+0.73% EdiFund T2 🔼+2.95% EDC Balanced 🔼+0.66% CM Fund 🔼+3.49% CDH Balanced 🔼+2.29% Bfund 🔼+2.21% ⚙FIXED INCOME FUNDS 🛡AY% EDC Fixed Income 🔼+20.83% FirstFund 🔼+16.34% Republic Unit 🔼+10.89% TTL IncomeHaven 🔼+19.02% SEM MoneyPlus 🔼+14.92% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+3.05% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.45% Mfund 🔼+2.14% NGIS Mfund +1.36% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $97.20 -1.30 -1.32% *Natural Gas 🏭 $/million BTUS $66.66 +0.92 +1.40% *Gold 👑 $/troy ounce $1,293.40 -5.90 -0.45% *Silver 💍 $/troy ounce $15.33 -0.02 -0.16% *Corn 🌽 $/bushel $362.00 -2.25 -0.62% *Cocoa 🍫 $/metric ton  $2,202.00 +4.00 +0.18% *Coffee ☕ ¢/pound  $97.20 -1.30 -1.32% *Sugar🎂 ¢/pound $12.29 +0.11 +0.90%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmOnline Prince Henry Danquah
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 07/03/2019

  • Mar 7, 2019
  • g/Business
  • Aiphay
🚩 Ghana has cemented its position as the most attractive destination for Foreign Direct Investment (FDI), ahead of neighbouring Nigeria, by attracting FDI commitments to the tune of well over US$ 3.5 billion in 2018. GIPC nearly matched the previous year’s performance, registering US$3.32 billion in commitments and with local counterpart commitments added on, a total of US$3.54 billion. Instructively, the highest single investment registered is for US$1.42 billion and indeed two investments are for over US$1 billion each. Despite this being the highest FDI registered in the 24 year history of the GIPC cynics argued that it was only achieved because of one single investment commitment of over US$2 billion made during the year. 🚩 Databank, Ghana’s leading investment bank, held a Forum dubbed ‘Time with the CEO’ for its clients and the general public on Friday, March 1, 2019, at the new Accra Metropolitan Assembly Office Complex at 5:30 p.m. The program was moderated by Bernard Avle, host of the Citi FM Breakfast Show. Databank launched an initiative called Time with the CEO to give both prospective and existing clients the opportunity to interact with the CEO in a more informal and relaxed setting. During the Forum, the CEO responded to questions that touched on the safety of the industry, the future of Databank as a company, Databank’s products, the impact of banking reforms on the investment industry, as well as people just looking for investment advice. 🚩 Ghana’s Aviation Minister Joseph Kofi Adda has described the interest rate for the loan secured for the construction of the Terminal 3 at Kotoka International Airport as too much. In 2015, Ghana Airports Company Limited m interest rate of Libor plus 8.5%. The loan was approved by a consortium of banks led by Ecobank Capital. The Terminal 3 project at the time was meant to expand the facilities at the Kotoka International Airport to accommodate the gradually increasing number of passengers as well as increasing the number of airlines servicing the airport. 🚩 The Ghana National Gas Company (Ghana Gas) will by the middle of 2019 monetize an essential by-product, known as Isopentane, which would be used for power generation. Currently the pentane gas is flared since the country has not built the capacity to use this particular gas. However, the CEO of Ghana Gas, Dr. Ben Asante revealed at a media briefing that by the middle of this year, Ghana Gas will be using the Isopentane gas produced for power generation. The power production is expected to be undertaken by an independent local power producer. 🚩 It has emerged that Ghana charges the highest amount of levies on imported goods within the Sub-Saharan region. Speaking to Citi FM, President of the Ghana Union of Traders Association (GUTA), Joseph Kwaku Obeng noted this has led to many traders or businessmen travel to neighbouring West African countries to purchase imported goods because it’s cheaper than importing to Ghana. 🚩 Aker Energy has announced the discovery of oil in the Pecan South-1A well, drilled south of the main Pecan field in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana. The Norwegian company in a statement Monday said it will now drill a sidetrack well to further appraise the volume potential. The Pecan South-1A well was drilled south of the main Pecan field in the DWT/CTP block and encountered oil. 🚩 The Ghana Exim bank says it has instituted stringent application processes to reduce loan defaults. The bank was set up in 2016 to facilitate the country’s international trade by providing financial support to local companies especially SME’s. However, the Bank of Ghana’s Banking sector report for 2018 revealed that local private businesses are the worst culprits in repaying loans taken from banks resulting in high non-performing loans within the banking sector. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.1976 Sell 5.2028 GB£Gh¢ Buy 6.8239 Sell 6.8328 CAD$Gh¢ Buy 3.8981 Sell 3.9020 JP¥Gh¢ Buy 0.0465 Sell 0.0465 ZARGh¢ Buy 0.3674 Sell 0.3678 EU€Gh¢ Buy 5.8893 Sell 5.8944 CHN¥Gh¢ Buy 0.7758 Sell 0.7761 Gh¢CFA Buy 111.28 Sell 111.38 Gh¢NG₦ Buy 58.85 Sell 58.91 BITCOIN Trading Price $3,856.07 ▲$55.01 ▲1.47% ETHEREUM Trading Price $137.02 ▲$4.23 ▲3.23% RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97% 🔼GSE DAILY GAINERS➖%CHANGE➖PRICE CMLT +11.11% ➡️Gh¢0.10 GCB +1.33% ➡️Gh¢3.81 EGL +0.45% ➡️Gh¢2.21 🔻GSE DAILY LOSERS➖%CHANGE➖PRICE CAL -4.85% ➡️Gh¢0.98 MTNGH -1.37% ➡️Gh¢0.72 TOTAL -0.87% ➡️Gh¢4.55 〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1868% Interest Rate 14.7085% 182 - Day Discount Rate 14.0676% Interest Rate 15.1320% 364 - Day Discount Rate 15.2749% Interest Rate 18.0287% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE TOTAL +33.82% ➡️Gh¢4.55 SOGEGH +20.00% ➡️Gh¢0.90 AYRTN +14.29% ➡️Gh¢0.08 ALW +12.50% ➡️Gh¢0.09 ACCESS +7.04% ➡️Gh¢3.80 🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE RBGH -20.29% ➡️Gh¢0.55 GCB -17.17% ➡️Gh¢3.81 MTNGH -8.86% ➡️Gh¢0.72 GOIL -7.05% ➡️Gh¢2.90 SIC -5.26% ➡️Gh¢0.18 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 🏧 MARKET INDEXES *Dow Jones Index🚂⛽ 25,673.46 -133.17 -0.52% *S&P 500 🏦 2,771.45 -18.20 -0.65% *Nasdaq Index📲💻  7,505.92 -70.44 -0.93% * NYSE Composite Index 12,538.00 -86.47 -0.68% *London FTSE 100 7,196.00 +12.57 +0.17% *Germany DAX 11,587.63 -33.11 -0.28% *Japan NIKKEI 225 21,456.01 -140.80 -0.65% *Hong Kong HANG SENG  28,883.54 -154.06 -0.53% * Shanghai Shenzhen 300 3,840.51 -7.58 -0.20% *S&P/ASX 200 Index 6,263.89 +18.27 +0.29% *Bloomsberg EU 500 252.59 -0.39 -0.15% *FTSE/JSE South Africa Top40 49,875.04 +289.38 +0.58% *Nairobi SE 20 Share 2,909.74 +2.35 +0.08% *Nigeria SE Main-Board Index 32,121.74 -51.92 -0.16% *GSE Composite Index 2479.96 -14.31 (-0.57%) *GSE Financial Index 2133.69 -3.12 (-0.15%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰YTD% Anidaso Fund 🔼+0.37% Dalex Vision 🔼+2.05% EPAcK 🔼+3.24% Omega Equity 🔼+2.71% Republic Equity 🔼+1.95% SEM All-Africa 🔼+9.76% HeritageFund 🔻-0.45% Legacy Trust 🔼+0.51% ⚖BALANCED FUNDS ⏸YTD% Bfund 🔼+2.01% CDH Balanced 🔼+2.06% CM Fund 🔼+2.99% EdiFund T2 🔼+2.68% UMB Balanced 🔼+2.18% Republic F Plan 🔼+1.83% Kiddifund 🔼+0.70% ⚙FIXED INCOME FUNDS 🛡AY% TTL IncomeHaven 🔼+19.50% SEM MoneyPlus 🔼+14.95% FirstFund 🔼+17.12% EDC Fixed Income 🔼+17.12% Republic Unit 🔼+10.83% Galaxy Mfund 🔼+9.39% ⚙FIXED INCOME FUNDS 🛡YTD% STANLIB Income 🔼+2.66% SikaFund 🔼+1.60% Omega Income 🔼+2.33% EdiFund T1 🔼+2.15% Mfund 🔼+2.14% ✴ COMMODITIES MARKET *Brent Crude $/barrel⛽ $66.20 +0.21 +0.32% *Natural Gas 🏭 $/million BTUS $2.84 0.00 -0.14% *Gold 👑 $/troy ounce $1,285.40 -2.20 -0.17% *Silver 💍 $/troy ounce $15.08 -0.01 -0.07% *Corn 🌽 $/bushel $371.50 -1.00 -0.27% *Cocoa 🍫 $/metric ton  $2,245.00 +88.00 +4.08% *Coffee ☕ ¢/pound  $98.70 -0.95 -0.95% *Sugar🎂 ¢/pound $12.16 -0.28 -2.25%   Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline. Compiled By: Prince Henry Danquah
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 27/02/2019

  • Feb 28, 2019
  • g/Business
  • Aiphay
🚩 The London Stock Exchange (LSE) has agreed to partner Ghana in a bid to aid the development and robustness of her capital markets infrastructure. The agreement was reached when Ghana’s delegation, led by Vice President Dr. Mahamudu Bawumia, held a joint meeting with the leadership of the LSE, at the sidelines of the Ghana-United-Kingdom Business Council meeting, in London, on Monday. Mr. Nikhil Rathi, the Chief Executive Officer and Director of International Development of LSE, led his team to sign the agreement. 🚩 The International Monetary Fund (IMF) is backing government to overhaul its tax exemptions regime to boost its failing domestic revenue. The Washington-based lender, in its latest review of Ghana’s ongoing bailout programme, said rationalising tax exemptions will improve government’s domestic revenue mobilisation. Domestic revenue performance over the past two-three years has not met the budgeted estimates, with last year’s target falling short by about 10 percent and prompting government to realign its expenditure in view of the shortfall. 🚩 Domestic Airline, Africa World Airlines (AWA) and South Africa Airways have signed a Memorandum of Understanding (MoU) to formalize and enhance corporation between the two Airlines. Chief Executive Officer of South Africa Airlines Vuyani Jarana explained that the partnership was going to expand connectivity for Africa. “We are a firm believer that for Africa to be connected, it is not going to be just one airline but it will take such partnerships and collaborations between airlines like ours and this will create better and wider connectivity.” 🚩 Stratcomm Africa’s Chief Executive Officer, Esther A. N. Cobbah, has been appointed to the Board of the International Public Relations Association (IPRA). The seventeen-member Board, drawn from the Association’s global membership, was inaugurated in Vienna, Austria on 23rd February 2019. Esther is the first member of the Board from Africa South of the Sahara. Svetlana Stavreva, External Relations Manager, Global Technology Services (GTS), IBM Europe and Official Member of the Forbes Communications Council was also installed in Vienna, Austria, as President of the IPRA on 22nd February 2019 for the next year. The IPRA board is the governing body of the association. 🚩 Operators in the downstream petroleum industry have signed a Safety Declaration form issued by the National Petroleum Authority (NPA) as part of its campaign to engage all stakeholders on the collective responsibility of safety. Necessitated by the Atomic junction and Kumasi gas explosion incidents, Chief Executive Officer for NPA, Alhassan Tampuli, indicated that the Safety campaign is a clarion call to uphold operational standards that will prevent any further disasters. 🚩 Director General of the Ghana Ports and Harbours Authority (GPHA), Michael Luguje, has disclosed that a national supply chain management skills development and awareness campaign is needed in order to drive local growth and participation in the ocean economy. Through a corporate citizenry partnership with Professor Douglas Boateng, GPHA and the Ghana Maritime Authority (GMA) will make limited copies of the world’s only inclusive supply chain management compendium, available to select organisations and individuals operating in amongst others, Ghana’s maritime supply chain sector. 🚩 Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump’s call to temper prices. Futures in New York extended losses after sliding 3.1 percent on Monday, the most in four weeks. While crude is still over 25 percent below a four-year high in October, the U.S. president tweeted on Monday that prices are getting too high and called on the Organization of Petroleum Exporting Countries to “relax and take it easy.” ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 5.0976 Sell 5.1027 GB£Gh¢ Buy 6.7181 Sell 6.7264 CAD$Gh¢ Buy 3.8566 Sell 3.8593 JP¥Gh¢ Buy 0.0460 Sell 0.0461 ZARGh¢ Buy 0.3680 Sell 0.3683 EU€Gh¢ Buy 5.7925 Sell 5.7966 CHN¥Gh¢ Buy 0.7614 Sell 0.7616 Gh¢CFA Buy 113.16 Sell 113.24 Gh¢NG₦ Buy 60.01 Sell 60.07 BITCOIN Trading Price $3,798.97 ▼$-12.63 ▼-0.33% ETHEREUM Trading Price $135.74 ▼$19.83 ▼14.26B% RIPPLE Trading Price $0.31 ▼$-0.01 ▼-8.39% 〽️Inflation rate in Ghana ➡️ 9.00% (-4.26%) ✳Policy Rate in Ghana ➡️ 16.00% (-5.88%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1863% Interest Rate 14.7079% 182 - Day Discount Rate 14.0680% Interest Rate 15.1324% 364 - Day Discount Rate 15.3661% Interest Rate 19.7500% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.7500% 3 Year Bond Interest Rate 20.0000% 5 Year Bond Interest Rate 17.0000% 6 Year Bond Interest Rate 21.0000% 10 Year Bond Interest Rate 17.5000% 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 💧MUTUAL FUNDS IN GHANA♣️ RETURNS 📈EQUITY FUNDS ➰ Legacy Trust 🔼+0.51% SEM All-Africa 🔼+4.63% HeritageFund 🔼+0.04% EPAcK 🔼+1.83% Dalex Vision 🔼+0.63% Anidaso Fund 🔻-0.15% ⚖BALANCED FUNDS ⏸ CDH Balanced 🔼+1.20% EdiFund T2 🔼+1.05% UMB Balanced 🔼+1.93% MyWealth Trust 🔼+0.59% EDC Balanced 🔻-0.66% Republic F Plan 🔼+1.06% GalaxyBfund 🔻-0.36% Bfund 🔼+0.78% ⚙FIXED INCOME FUNDS 🛡 Omega Income 🔼+1.56% Mfund 🔼+1.66% STANLIB Income 🔼+1.92% SEM MoneyPlus 🔼+14.81% FirstFund 🔼+16.83% EDC Fixed Income 🔼+16.61% TTL IncomeHaven 🔼+22.00% Republic Unit 🔼+11.76% SEM Income 🔼+1.25% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 22/01/2019

  • Jan 22, 2019
  • g/Business
  • Aiphay
🚩 The Producer Price Inflation for December 2018 was 4.4 percent, representing a 2.1 percent decrease in the producer inflation of 6.5 percent recorded in November 2018. The month-on-month change in producer price index between November 2018 and December 2018 was -1.2 percent, David Kombat – Head of Publicity and Education, Ghana Statistical Service, announced this on Wednesday in Accra at a press briefing. 🚩The Securities and Exchange Commission (SEC), has indicated that it has commenced thorough research into cryptocurrency-related activities in the country following fears of a cryptocurrency scam. In the meantime, it has urged Ghanaians “to desist from engaging in these crypto entities.” “If you chose to go there, you are on your own,” the Deputy Director General of Securities and Exchange Commission, Paul Ababio said to Citi News. The SEC does not regulate the cryptocurrency space in Ghana, and cryptocurrency is not accepted as legal tender. 🚩Cross network mobile money transfers were done about 2.2 million times between May and December last year, according to figures released by the Ghana Interbank Payment and Settlement Systems (GhIPSS). This shows a continuous increase in the patronage of the service. Before the introduction of mobile money interoperability in May last year, such cross-network transfers were done through the ‘token’ system. The monthly average transactions using the ‘token’ system was about 93,000. 🚩Out of about 76 trawlers operating on Ghana’s waters, only one is wholly owned by a Ghanaian. The rest are owned by Chinese. According to Professor Wisdom Akpalu, a Natural Resource Economist and President of the African Association of Environmental and Resource Economists (AFAERE), because Ghana’s laws do not permit foreign vessels to fish in it waters, the Chinese buy the vessels and get some Ghanaians to front for them. 🚩Cuba’s Deputy Minister for Public Health, Dr. Marcia Cobas Ruiz and her delegation has paid a courtesy call on Foreign affairs minister, Hon Charles Wiredu on Monday, January, 21 to strengthen economic ties and sign a health agreement. She assured of the country’s continuous commitment to enhance bilateral affairs with Ghana. Dr. Marcia Cobas Ruiz said the relations between Ghana and Cuba which has been in existence for 60 years has been very fruitful particularly in terms of academic services and medical cooperation. 🚩The management of Social Security and National Insurance Trust (SSNIT) has presented a cheque for Gh¢500,000 to the National Pensioners Association (NPA) to cater for their health needs. Monday's presentation follows a similar gesture in 2017 where SSNIT doled out Gh¢300,000 to treat eye and optical care coverage for glaucoma, cataract procedures and spectacle subsidies; urological and gynecological conditions. 🚩The Ministry of Trade and Industry (MOTI) has acquired 60 acres of land for an industrial park project at Channayili in the Tolon district of the Northern Region. The park will be used for industrial activities such as tomato-canning, smock-weaving, shea production, among others. The Northern Regional Trade officer, Samuel Wood, told the B&FT that the ministry is in the process of registering the land for commencement of the project to augment government’s policy of One Region, One Industrial Park. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 4.9078 Sell 4.9126 GB£Gh¢ Buy 6.3168 Sell 6.3250 CAD$Gh¢ Buy 3.6910 Sell 3.6947 JP¥Gh¢ Buy 0.0448 Sell 0.0449 ZARGh¢ Buy 0.3539 Sell 0.3543 EU€Gh¢ Buy 5.5797 Sell 5.5840 CHN¥Gh¢ Buy 0.7227 Sell 0.7235 Gh¢CFA Buy 117.47 Sell 117.56 Gh¢NG₦ Buy 62.53 Sell 62.59 BITCOIN Trading Price $3,653.29 ▲$93.31 ▲2.54% ETHEREUM Trading Price $127.87 ▲$6.81 ▲5.12% RIPPLE Trading Price $0.33 ▲ $0.01 ▲1.62% 〽️Inflation rate in Ghana ➡️ 9.40% (+1.08%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1704% Interest Rate 14.6908% 182 - Day Discount Rate 14.0505% Interest Rate 15.1122% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry.
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 21/01/2019

  • Jan 21, 2019
  • g/Business
  • Aiphay
🚩 The Securities and Exchange Commission (SEC) has told Citi Business News, it is working with the Economic and Organized Crime Office (EOCO) and the Attorney General to speed up investigations into the operations of Menzgold. It follows the dismissal of a suit filed against the SEC and Bank of Ghana by gold dealership firm, Menzgold to prevent the two institutions from investigating its operations. 🚩Former workers of the five consolidated banks, Unibank, Beige, Royal, Construction and Sovereign banks may be heaving a sigh of relief as Citi Business News has gathered the workers can now access their tier 3 pension contributions, and Provident Funds. The Provident Fund is money the workers voluntarily contributed personally to a scheme which was managed by privately owned insurance companies. 🚩Tullow Oil is gearing up to drill seven oil wells in the Jubilee and TEN Oil fields this year. Managing Director, Kweku Awotwi stated the new wells will fetch it more proceeds than the US$2bn secured last year. With the activation of the new wells, Tullow expects to generate 180,000 barrels of oil a day raising its overall gross oil production per 2019 production forecast. 🚩The Ghana Cocoa Board (COCOBOD} will require Gh¢1.5 billion to address its financing gap for the 2018/2019 crop season, a parliamentary report has revealed. This was contained in the Finance Committee report on the terms of a medium-term receivables-backed trade finance facility between Ghana Cocoa Board (as borrower) and a consortium of banks and financial institutions (lenders), with government (as guarantor) for an amount of US$300 million to refinance cocoa bills for the 2018/2019 crop season. Additionally, US$1.5m was waived as stamp duty on the loan facility. 🚩The Customs Division of the Ghana Revenue Authority (GRA) fell short of its 2018 revenue target by more than GH¢2 billion, and almost 70 percent of that loss is attributed to the transit trade sector according to the Commissioner of Customs, Isaac Crentsil. He said unfair practices, including the diversion of goods and the non-declaration of goods that are originally meant for transit but eventually find their way onto the domestic market, accounted for that loss. 🚩The Managing Director of the Ghana Airport Company Limited, Mr. John Dekyem Attafuah, has been sacked from his position with immediate effect. According to sources, the dismissal letter dated 16th January 2019, was signed by the Aviation Minister, Joseph Kofi Adda, and addressed to the Board Chairman. Mr. John Dekyem Attafuah has been directed to hand over to his Deputy, Mr. Yaw Kwakwa, who is expected to act until a substantive appointment of a new Managing Director is made by government. 🚩Malaysia would consider dropping charges against Goldman Sachs (NYSE:GS) if it was compensated for the full amount raised for the 1MDB fund. That's according to Malaysian finance minister Lim Guan Eng, who added that an appropriate figure would be $7.5B. "Goldman Sachs was lied to by certain members of the former Malaysian government and 1MDB," an investment bank spokesman declared. "We intend to vigorously contest the charges brought against us." 〽️Inflation rate in Ghana ➡️ 9.40% (+1.08%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1704% Interest Rate 14.6908% 182 - Day Discount Rate 14.0505% Interest Rate 15.1122% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% 🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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Pic: MTN QuickLoan defaulters have been exposed in public
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 14/01/2019

  • Jan 14, 2019
  • g/Business
  • Aiphay
🚩 The now-defunct Heritage Bank is being wound down as fast as possible following the revocation of its licence by the Bank of Ghana and the subsequent transfer of its assets and liabilities by the central bank to the state-owned Consolidated Bank Ghana Limited, staff of the bank have been told. The workers have had a series of meetings with the Receiver over their fate and the winding down process since the Bank of Ghana announced the revocation of the licence a week ago. 🚩The Madina Institute of Science and Technology (MIST), a tertiary educational institution, has hinted at a long-term goal of setting up an Islamic bank to cater to the unbanked population in its catchment area. Its president, Prof. Abdullai Salifu Asuro said: “It is an alternative that is missing in this part of the world; we can’t gloss over the fact that there are people who are not very comfortable with our traditional banking system because Islam frowns on anything that charges interest. 🚩The Jospong Group of Companies has debunked media publication that its contract with government to supply 1,000,000 bins and 900,000 pieces of biodegradable bin liners at the cost of US$74,040,000 was terminated by the state. A statement issued on Thursday by the management of Jospong Group whose subsidiaries won the bid to execute the contract called the publication a misrepresentation of issues. 🚩Ghana could be earning about 640 million dollars or (15%) in oil revenue by next the next two years with the coming on board of Aker Energy’s new production wells. The oil company has announced that its oil exploration works in the Deepwater Cape Three Points block has been successful as it shows oil quantities estimated between 450 and 550 million barrels. For this year, the government is expecting to rake in daily oil revenue of 11.6 million dollars. This is expected to translate into yearly revenue of 4.23 billion dollars. 🚩Ghana has been nominated for a Third Power Compact under the Millennium Challenge Account (MCA) alongside four other West African countries, including Burkina Faso, Ivory Coast, Benin and Niger. Mr Martin Eson-Benjamin, the Chief Executive Officer (CEO) of the Millennium Development Authority (MiDA), announced this at a media stakeholders’ engagement in Accra. He said out of the five countries two would be selected and Ghana stands a good chance of being selected, only if she successfully implemented the ongoing Power Compact II. 🚩The Coalition of Textile Workers reckons they can now compete fairly in the market given government’s decision to exclude local textile manufacturers from paying certain taxes and VAT. John Ackon of the coalition says the burdensome payment of Value Added Tax (VAT) was further pounding the textile companies into an inevitable death. He stated the tax component meant the cost was passed done to the depots, wholesalers, retailers and ultimately the customers who complained of the high cost the locally made fabrics. 🚩The Receiver of Heritage Bank, Mr Vish Ashiagbor, has given the staff of the now-defunct Heritage Bank a three-month contract. The bank’s licence was recently revoked by the Bank of Ghana and added to the state-owned Consolidated Bank Ghana Limited. In a letter to the inherited staff of Heritage Bank, the Receiver said: “As you may be aware, pursuant to section 16(1)(a)(7) and (8) of the Bank and Specialised Deposit-Taking Institutions Act, 2016 (Act930), the Bank of Ghana (BoG), on 4 January 2019 revoked the operating licence of Heritage Bank and has appointed Mr Vish Ashiagbor, a Director of PricewaterhouseCoopers (Ghana) Limited (PwC), as the Receiver for the purposes of winding down the affairs of Heritage Bank. 〽️Inflation rate in Ghana ➡️ 9.40% (+1.08%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.1103% Interest Rate 14.6263% 182 - Day Discount Rate 14.0283% Interest Rate 15.0865% 1 Year Fixed Note Interest Rate 16.5672% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%) 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 11/01/2019

  • Jan 11, 2019
  • g/Business
  • Aiphay
🚩 Aker Energy, the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, has announced that it is about to complete a successful exploration and drilling operation of the Pecan-4A appraisal well offshore Ghana. The company explained that initial works done show that its Pecan4A well in the block could be holding some 450 to 550 million barrels of oil. The well was drilled at the Pecan field in the DWT/CTP block approximately 166 kilometres southwest of Takoradi in Ghana, to a vertical depth of 4,870 meters in 2,667 meters of water. 🚩The Association of Ghana Industries (AGI) has asked government to ensure an early release of the $1 billion it pledged in the 2019 budget towards industrial development. An early release of the funds, it said, will accelerate the country’ industrial development, improve confidence in the economy, ensure that the desired impact is generated, as well as lend credence to government’s industrial transformation agenda. 🚩Local portfolio investors will have the opportunity to invest up to Gh¢8.25 billion in Government of Ghana’s domestic debt securities during the first three months of 2019, according to the domestic debt issuance calendar for the first quarter of this year, released by the Ministry of Finance. This amount comprises debt securities with tenors of 91 days, 182 days and 364 days to be issued during the period, all of which are reserved strictly for domestic investors. 🚩The new entity that will assume the assets and operations of the Electricity Company of Ghana (ECG), Power Distribution Services (PDS) Ghana Limited is set to take over from the first of February this year. The move is expected to see the power distribution company receive some funds to expand its operations as well as build a new bulk station in Pokuase in the Greater Accra region. Meralco Consortium, a Pilipino power company which won the bid to take over the operations of ECG is major shareholder in PDS. 🚩Ford (NYSE:F) said it will cut thousands of jobs in Europe as part of a turnaround effort, while Jaguar Land Rover (NYSE:TTM) is expected to make a similar layoff announcement due to plunging demand for diesel, falling Chinese sales and Brexit uncertainty. VW (OTCPK:VWAGY) is further setting up a network of fast-charging stations in China as part of its multibillion-dollar push to boost EVs and Fiat Chrysler (NYSE:FCAU) is set to announce a $700M settlement today over the DOJ's diesel emissions claims. 🚩Airbus (OTCPK:EADSY) lost out to Boeing (NYSE:BA) in 2018, with orders falling 33% to 747 (including 135 for the A220 jetliner which it took over from Bombardier in July) vs. Boeing's 893 net orders. What about deliveries? The French aerospace giant also came up short, with 800 deliveries vs. the 806 of its U.S. rival, although the 1,606 planes handed over was a new high for the commercial airliner industry. 🚩Sears Chairman Eddie Lampert has reportedly submitted a revised $5B takeover bid for the company, boosting the chances the U.S. department store operator will escape liquidation. The new bid, which Sears (OTCPK:SHLDQ) will consider during a Jan. 14 bankruptcy auction, proposes assuming up to about $300M of tax and merchandise expenses the 126-year-old icon has racked up since its Oct. 15 bankruptcy filing. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 4.8475 Sell 4.8524 GB£Gh¢ Buy 6.1810 Sell 6.1892 CAD$Gh¢ Buy 3.6602 Sell 3.6640 JP¥Gh¢ Buy 0.0448 Sell 0.0449 ZARGh¢ Buy 0.3486 Sell 0.3491 EU€Gh¢ Buy 5.5846 Sell 5.5895 CHN¥Gh¢ Buy 0.7137 Sell 0.7143 Gh¢CFA Buy 117.36 Sell 117.46 Gh¢NG₦ Buy 63.32 Sell 63.38 BITCOIN Trading Price $3,619.60 ▼$-382.06 ▼-12.45% ETHEREUM Trading Price $126.88 ▼$-11.73 ▼-11.98% RIPPLE Trading Price $0.3e ▼$-0.02 ▼-6.15% 〽️Inflation rate in Ghana ➡️ 9.40% (+1.08%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.0824% Interest Rate 14.5963% 182 - Day Discount Rate 13.9921% Interest Rate 15.0446% 1 Year Fixed Note Interest Rate 15.0000% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 10/01/2019

  • Jan 11, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 09/01/2019 🚩 The Social Security and National Insurance Trust (SSNIT) has increased the benefits of pensioners by 11 percent. The decision, according to SSNIT was taken after considering the rate of increase of prices of goods and services, adjustment in public sector salaries, as well as available funds with the company. Speaking at a press conference, the Director-General of SSNIT, John Ofori-Tenkorang explained that low pension beneficiaries will get some relief due to the increase. 🚩The Public Interest and Accountability Committee (PIAC) has revealed that although Ghana National Gas Company (GNGC) made proceeds to the tune of over $46 million in 2018, this did not reflect in the Petroleum Holding Fund (PHF). PIAC in its semi-annual report on the management of petroleum revenues for the first half of 2018 revealed that despite the proceeds, GNGC made “no payment to GNPC in respect of gas supplied, for which reason no gas receipts were realised in the Petroleum Holding Fund (PHF).” 🚩Management of Groupe Nduom has reacted to claims on social media that the company made investments with embattled gold dealership company, MenzGold. A press release signed by the Head of Corporate Affairs at Groupe Nduom, Frank Owusu-Ofori argued that ‘neither Groupe Nduom nor any of its subsidiaries made any investment with MenzGold Ghana Limited.’ 🚩The Bank of Ghana says it does not have the power to intervene in the Menzgold saga. Speaking on the Super Morning Show on Joy 99.7 FM Tuesday, Second Deputy Governor of BoG, Mrs Elsie Awadzi said “we don’t even have the power to intervene; we didn’t regulate it, there is no way we are going to do anything. We don’t have anything to do with Menzgold unfortunately.” She said the Bank of Ghana “has been very clear for a long while about the fact this was an unlicensed operation.” 🚩The 23rd Ghana International Trade Fair is scheduled to take place at the Trade Fair Centre La, Accra from the 28th February through to 11th March 2019. The fair is under the theme: “Made in Ghana, Globally Accepted”. The trade Expo is under the auspices of the ministry of Trade & Industry and partnered by Ministry of Business Development, Ghana Export Promotion Authority, Rural Enterprises Program, GIPC, GICCL, AGI and others. 🚩The local textile industry has received a boost following the government’s decision to zero-rate Value-Added Tax on the supply of locally manufactured textiles for a period of three years. The move is to help reduce their cost build up, make the local textile industry price-competitive and help them compete with the influx of cheap textile products from other parts of the world. Although the policy is expected to cost the government an estimated revenue of GH¢40.1 million annually, it comes as a huge relief to the industry who have for a long time now been appealing to the government for tax exemptions on their products. 🚩World Bank Group President Jim Yong Kim today announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development. 〽️Inflation rate in Ghana ➡️ 9.30% (-2.11%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.0824% Interest Rate 14.5963% 182 - Day Discount Rate 13.9921% Interest Rate 15.0446% 1 Year Fixed Note Interest Rate 15.0000% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 09/01/2019

  • Jan 9, 2019
  • g/Business
  • Aiphay
🚩 The Social Security and National Insurance Trust (SSNIT) has increased the benefits of pensioners by 11 percent. The decision, according to SSNIT was taken after considering the rate of increase of prices of goods and services, adjustment in public sector salaries, as well as available funds with the company. Speaking at a press conference, the Director-General of SSNIT, John Ofori-Tenkorang explained that low pension beneficiaries will get some relief due to the increase. 🚩The Public Interest and Accountability Committee (PIAC) has revealed that although Ghana National Gas Company (GNGC) made proceeds to the tune of over $46 million in 2018, this did not reflect in the Petroleum Holding Fund (PHF). PIAC in its semi-annual report on the management of petroleum revenues for the first half of 2018 revealed that despite the proceeds, GNGC made “no payment to GNPC in respect of gas supplied, for which reason no gas receipts were realised in the Petroleum Holding Fund (PHF).” 🚩Management of Groupe Nduom has reacted to claims on social media that the company made investments with embattled gold dealership company, MenzGold. A press release signed by the Head of Corporate Affairs at Groupe Nduom, Frank Owusu-Ofori argued that ‘neither Groupe Nduom nor any of its subsidiaries made any investment with MenzGold Ghana Limited.’ 🚩The Bank of Ghana says it does not have the power to intervene in the Menzgold saga. Speaking on the Super Morning Show on Joy 99.7 FM Tuesday, Second Deputy Governor of BoG, Mrs Elsie Awadzi said “we don’t even have the power to intervene; we didn’t regulate it, there is no way we are going to do anything. We don’t have anything to do with Menzgold unfortunately.” She said the Bank of Ghana “has been very clear for a long while about the fact this was an unlicensed operation.” 🚩The 23rd Ghana International Trade Fair is scheduled to take place at the Trade Fair Centre La, Accra from the 28th February through to 11th March 2019. The fair is under the theme: “Made in Ghana, Globally Accepted”. The trade Expo is under the auspices of the ministry of Trade & Industry and partnered by Ministry of Business Development, Ghana Export Promotion Authority, Rural Enterprises Program, GIPC, GICCL, AGI and others. 🚩The local textile industry has received a boost following the government’s decision to zero-rate Value-Added Tax on the supply of locally manufactured textiles for a period of three years. The move is to help reduce their cost build up, make the local textile industry price-competitive and help them compete with the influx of cheap textile products from other parts of the world. Although the policy is expected to cost the government an estimated revenue of GH¢40.1 million annually, it comes as a huge relief to the industry who have for a long time now been appealing to the government for tax exemptions on their products. 🚩World Bank Group President Jim Yong Kim today announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development. ✴INTERBANK FOREX RATES 💴💰 US$Gh¢ Buy 4.8341 Sell 4.8389 GB£Gh¢ Buy 6.1538 Sell 6.1614 CAD$Gh¢ Buy 3.6383 Sell 3.6417 JP¥Gh¢ Buy 0.0444 Sell 0.0445 ZARGh¢ Buy 0.3468 Sell 0.3471 EU€Gh¢ Buy 5.5295 Sell 5.5338 CHN¥Gh¢ Buy 0.7061 Sell 0.7069 Gh¢CFA Buy 118.54 Sell 118.63 Gh¢NG₦ Buy 63.50 Sell 63.56 BITCOIN Trading Price $4,008.64 ▲$193.31 ▲13.54% ETHEREUM Trading Price $147.37 ▲$9.52 ▲8.10% RIPPLE Trading Price $0.36 ▲ $0.01 ▲0.92% 〽️Inflation rate in Ghana ➡️ 9.30% (-2.11%) ✳Policy Rate in Ghana ➡️ 17.00% (0.00%) ¶ TREASURY BILLS RATE💸 91 - Day Discount Rate 14.0824% Interest Rate 14.5963% 182 - Day Discount Rate 13.9921% Interest Rate 15.0446% 1 Year Fixed Note Interest Rate 15.0000% 2 Year Fixed Note Interest Rate 19.5000% 3 Year Bond Interest Rate 18.0000% 5 Year Bond Interest Rate 17.0000% 10 Year Bond Interest Rate 17.5000% 💧MUTUAL FUNDS IN GHANA♠️ 📈EQUITY FUNDS ➰ Dalex Vision 🔼+26.33% Gold Fund 🔼+19.87% Legacy Trust 🔼+16.89% Omega Equity 🔼+10.26% Anidaso Fund 🔼+7.96% SAS Fortune 🔼+8.87% Republic Equity 🔼+1.01% NTHC Horizon 🔻 -0.35% HeritageFund 🔻-5.56% EPAcK 🔻-7.00% SEM All-Africa 🔻-5.33% ⚖BALANCED FUNDS ⏸ CM Fund 🔼+20.89% CDH Balanced 🔼+17.97% UMB Balanced 🔼+18.09% MyWealth Trust 🔼+11.89% Republic F Plan 🔼+11.61% EdiFund T2 🔼+8.37% CCMF 🔼+8.16% Bfund 🔼+6.83% GalaxyBfund 🔼+5.56% ⚙FIXED INCOME FUNDS 🛡 TTL IncomeHaven 🔼+25.53% FirstFund 🔼+19.84% Galaxy Mfund 🔼+18.87% Omega Income 🔼+17.99% SEM Income 🔼+17.55% EDC Fixed Income 🔼+16.85% Mfund 🔼+15.99% SEM MoneyPlus 🔼+15.01% Republic Unit 🔼+15.22% STANLIB Income 🔼+16.79% Gold Money 🔼+14.92% Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
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