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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Details of the Ethiopian Airline Crash

  • Mar 26, 2019
  • g/Opinions
  • Aiphay
Death by Computer 189 people recently died in a tragic crash. The crew and passengers of Lion Air JT610 on board a brand new Boeing 737 MAX 8 never had a chance. The less than three months old plane had a new software in it. They called it MCAS or Maneuvering Chracteristics Augmentations System. MCAS was a system that didn't exist in any of the Boeing 737's before. However, when they built the 737 MAX version, in layman's term, they built the plane with a larger and more efficient engine. However, this larger engine, which delivered a further 14% fuel efficiency had to be fitted further forward under the low wings of the 737. This potentially may cause the plane to stall. Stalling is bad. It is basically when a plane stops flying and starts falling. In order to avoid this, Boeing installed the new MCAS software. This software is designed to tell the plane to move its nose down to increase its speed and avoid it from stalling. So here comes the problem. In the computer world, we have this term called GIGO. The old school fella's will know this. Yes. Garbage In, Garbage Out. The problem based on the findings so far is this. On the plane there is a sensor called the Alpha Vane which measures the Angle of Attack (AOA) of the plane. It looks like a small little wing, and they have two of it, one on the pilot side, and the other on the co-pilot's. The sensor's job is to tell the computer the angle the plane is flying at. And if the AOA of the plane is too high, this will result in the plane stalling. Typically the AOA is below 15 to 20 degrees, and the new MCAS software will push the plane's nose down if it thinks that the AOA is too high. Now. With flight JT610, the Alpha Vane sensor measuring the AOA on the Captain's side was reported to be faulty. So they changed it. That fault was reported from the equally harrowing flight from Bali to Jakarta. On the fateful final flight, the plane which arrived from Bali the night before, had the sensor changed, and then it took off in the morning. No one knew what was really wrong with the plane, or about the new MCAS software. No one. Not the maintenance folks, and in fact not even the pilot. He apparently wasn't trained on it yet. So they flew the plane. And once in the air, the faulty sensor told the computer that the plane is stalling. The computer then, without the pilot ever knowing pushed the nose of the plane down further, while the pilot was trying to raise the plane. In this battle between the pilot and the computer, the computer won. And the pilot, the crew, and the passengers lost and they died. The plane was too low, and the pilot didn't have enough air to raise the plane and fly it. The computer literally flew the plane into the ocean. A few weeks later, Boeing issued an update on the plane, and informed that should the plane have an issue with it's AOA sensors, one of the way to stop the computer was to switch it off! Apparently 189 lives could have been saved, had the pilot knew about the software, and flipped a switch to turn it off. A switch! A single simple switch was the difference between life and death. I am still fuming thinking about this. A switch! Computers are really going to be the end of us all, because while a man makes mistakes, to really, really screw up; you need a computer! #copied
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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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Conor McGregor: Ex-UFC champion announces retirement

  • Mar 26, 2019
  • g/Sports
  • Ahmedz
Ireland's former two-weight UFC champion Conor McGregor says he has "retired from the sport formally known as 'Mixed Martial Art'". The 30-year-old announced his decision on social media on Tuesday. "I wish all my old colleagues well going forward," he added. McGregor's last fight ended in defeat, when he was beaten by Khabib Nurmagomedov in October 2018 - the Russian winning the lightweight contest by a fourth-round submission. It was his first fight in the octagon in two years and the defeat was marred by a post-fight brawl which led to both fighters being fined and suspended. Since making his mixed martial arts debut in 2007, former trainee plumber McGregor established himself as one of the sport's leading fighters. How McGregor transcended UFC McGregor won the interim featherweight title with a knockout of Jose Aldo inside 13 seconds. While a loss on his welterweight debut to Nate Diaz ended a 15-fight winning streak, the Irishman won the rematch five months later. A victory over Eddie Alvarez for the lightweight championship saw McGregor become the sport's first dual-weight champion. And at the peak of his powers he transcended the sport, going on to face five-weight boxing champion Floyd Mayweather in 'The Money Fight'. That lucrative affair earned McGregor an estimated $30m (£23m), and attracted more than a million pay per view buyers in the UK and four million in the United States, with the American winning in the 10th round by technical knockout. However, McGregor's time in mixed martial arts has also been marred by controversy. In 2018, he was ordered to have anger management training and perform five days of community service by a court in return for criminal charges being dropped after he had attacked a bus containing rival UFC fighters. Video footage appeared to show McGregor throwing a railing at a bus carrying Khabib and a number of other UFC fighters. Earlier this month McGregor was arrested in Miami for allegedly smashing a fan's phone as they tried to take pictures of him. McGregor, who finishes with a record of 21 wins and four defeats, said: "I now join my former partners on this venture, already in retirement. Proper Pina Coladas on me fellas!" Has he really retired? This is not the first time that McGregor has announced his retirement from the sport. In April 2016, McGregor tweeted: "I have decided to retire young. Thanks for the cheese," and was then not included on the UFC 200 card. But he quickly issued a retraction outlining that he had instead fallen out with the sport's bosses over promotional work. In September 2018, McGregor launched an Irish whiskey brand. Following McGregor's announcement UFC President Dana White told MMA writers in the US: "He has the money to retire. It totally makes sense. If I was him, I would retire too. "He's retiring from fighting, not from working. The whiskey will keep him busy and I'm sure he has other things he's working on." "He has been so fun to watch. He has accomplished incredible things in this sport. I am so happy for him and look forward to seeing him be as successful outside the octagon as he was in it." However, McGregor's latest statement arrives after an interview aired on an American television show, in which he claimed he was in negotiations with the UFC about a return to fighting in July. On The Tonight Show starring Jimmy Fallon he said rematches against Diaz and Aldo would appeal to him and he has also said he would send Mayweather's "head into the bleachers," if the pair were to meet again. "I'll be here ready for him. I'll be here ready and confident," he said. "Next camp, and I do believe it should happen, I mean, why not? Why not? If I have sparring partners in my camp that march forward, trust me when I tell you, I'll send his head into the bleachers." Analysis Nick Peet, MMA writer and broadcaster speaking to BBC Radio 5 Live Conor has retired before and it lasted 48 hours and we've seen it in the fight game many times before. It is generally a power play to come out and say that you are going to retire to make promoters and everybody in the infrastructure of the sport panic and come back to you with an extra zero to the next cheque. But the world of UFC has drastically changed. For the last 25 years it has been based around pay-per-view deals. So 10 times a year they did big pay-per-view events and for those events they needed superstars and champions. So Conor McGregor, Ronda Rousey and Brock Lesnar would fight twice a year and those events would generate the most income. However, that all changed in 2019 with UFC's deal with ESPN+. You no longer have to pay $100 (£76) for a couple of events twice a year when McGregor fights. Instead you pay around $9 (£7) a month for your subscription. So this may be Dana White coming out and saying we no longer need our biggest stars to fight twice a year. McGregor will need the biggest pay cheque in UFC history to come back and the numbers might not work for UFC anymore. McGregor has more money than sense. He dreamt of becoming a millionaire and a UFC champion but did he ever dream of transcending the sport and becoming a global icon. Did he ever dream of generating so much from one fight. It is difficult to stay hungry when you are waking up on silk sheets. source:bbc.com
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Lebanese businessman vanishes from the country - Minority

  • Mar 25, 2019
  • g/News
  • Kwaku
The Minority in Parliament is demanding government action in the alleged abduction and disappearance of Mahran Mustapha Baajour, a Lebanese businessman. In a press release Sunday and signed by the Ranking Member on Foreign Affairs, Samuel Okudzeto Ablakwa, said the Akufo-Addo-led regime should act in an accountable manner as is expected of democratic states. The Minority demands government to break its unhelpful silence over the abduction and disappearance of Mahran Mustapha Baajour. “The Minority is reliably informed that immediately after arriving at the Kotoka International Airport on December 13, 2018, Mahran Mustapha Baajour and his two Ghanaian hosts who welcomed him at the airport were arrested at the precincts of the airport just when they were about departing in their Toyota salon vehicle with registration number GN 6126 - 15 by persons claiming to be operatives of the Bureau of National Investigations (BNI). “After all three were kept in detention for six days in violation of Ghanaian law, our understanding is that Mahran's two hosts, one Razak Abdul and another were then released as free men while Mahran was kept in detention. This is the reason Mahran's family and officials from his country are having a hard time believing denials and claims of innocence by Ghanaian Government officials they have contacted,” the Minority alleges. The Minority wants government to “be conscious of the implications of this whole abduction affair especially on our peacekeeping troops in Lebanon if the matter in issue continues to be handled so abysmally.” Below is the statement: Akufo-Addo’s government handling of Mahran Mustapha Baajour’s abduction affair repugnant The Minority in Ghana's Parliament demands that the Akuffo-Addo led Government acts in an accountable manner as is expected of democratic States and a further demand that it breaks its unhelpful silence over the abduction and disappearance of Mahran Mustapha Baajour. Mahran Mustapha Baajour, 39, is a Lebanese businessman of Palestinian origin who arrived in Ghana from Lebanon on a business visit on the 13th of December, 2018 and has since not been seen in public. The Minority is reliably informed that immediately after arriving at the Kotoka International Airport on December 13, 2018, Mahran Mustapha Baajour and his two Ghanaian hosts who welcomed him at the airport were arrested at the precincts of the airport just when they were about departing in their Toyota salon vehicle with registration number GN 6126 - 15 by persons claiming to be operatives of the Bureau of National Investigations (BNI). After all three were kept in detention for six days in violation of Ghanaian law, our understanding is that Mahran's two hosts, one Razak Abdul and another were then released as free men while Mahran was kept in detention. This is the reason Mahran's family and officials from his country are having a hard time believing denials and claims of innocence by Ghanaian Government officials they have contacted. This despicable human rights violation is stirring considerable unease in diplomatic circles with Ghana's image as a stable democratic State which upholds human rights and respects the rule of law clearly on the line. Mahran Mustapha Baajour's three-month-old abduction has already led to major protests in Beirut, Lebanon where petitions have been presented to that nation's President and the Speaker of their Parliament. Our monitoring of international media including Al-Jazeera which has already broadcasted two stories on this matter confirms that another petition demanding the release of Mahran addressed to the Ghanaian Government has been presented to our Consular Officer in Lebanon where another protest was staged with protesters carrying banners which read: "Mahran is in your prisons." The Minority which continues to follow this matter with keen interest has come into further information pointing to an escalation of protests by Lebanese nationals and human rights activists across the world against the Ghanaian Government. Indeed, protests have been scheduled to take place at Ghana's embassy in Washington, D.C. in the United States of America later this week. Undoubtedly, this worrying development does not bode well for Ghana's image in the comity of nations. We must also be conscious of the implications of this whole abduction affair especially on our peacekeeping troops in Lebanon if the matter in issue continues to be handled so abysmally. Despite the Minority's numerous behind the scenes interventions urging Government to publicly state it's claimed innocence and be seen to be manifestly working to resolve the mystery; the continuous silence of the Akufo-Addo led Government for more than three months even in the face of several local and international press reports as matters degenerate and as anxiety rises to fever pitch is most reckless and unacceptable, to say the least. This uninspiring conduct by the current Government is, unfortunately, fueling several suspicions in various quarters even as our international image continues to take a nosedive in recent times following the unresolved assassination of undercover journalist Ahmed Hussein-Suale and the disgraceful bloody Ayawaso West Wuogon by-election, both of which attracted wide international condemnation. The Minority, therefore, demands that the Akufo-Addo Administration which is in charge of the territorial security of Ghana and which is being held responsible by the growing number of protesters, takes urgent steps to assure the family of Mahran Mustapha Baajour - who we note sadly lost his mum last week, the people of Lebanon and the entire international community that Ghana will not slide into a state of lawlessness neither will we become a haven for human rights abuses perpetrated by faceless persons acting in the name of the State. Signed, Samuel Okudzeto Ablakwa (MP) Ranking Member, Committee on Foreign Affairs.
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Brief history of Ohene Djan the history in sports

  • Mar 24, 2019
  • g/History
  • Kwaku
Ohene Djan, the first Ghanaian director of sports & also Vice President of CAF. He led Africa to boycott the 1966 FIFA World Cup. An anti-racism action that change the face of the Tournament forever. The Accra Sports Stadium is named after him in recognition of his contribution.
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Made In Ghana: Okyeame Kwame Unveils Album Cover

  • Mar 23, 2019
  • g/Entertainment
  • Ahmedz
The time music lovers have been waiting for is inching closer than one would have imagined. The much-anticipated launch of the 'Made in Ghana' album is scheduled for April 20, 2019, at +233 Jazz Bar and Grill – and there is beautiful album art cover to it. The cover has Okyeame Kwame standing in between two lofty talking drums, wielding drum sticks. The talking drum, is an archetypal Ghanaian musical instrument that represents language. Tuned to low and high tones, it is used to communicate messages in most Ghanaian linguistic settings. According to Okyeame Kwame, the huge fontomfrom drums in the 'Made in Ghana' album cover simply tell how loud he is drumming home the message of patronising Ghana in this project. The drums are bigger than him - which means the voice (message) is more important than the vessel (Okyeame). Also, the soul of Rhythmic African Poetry, a trade which Okyeame has perfected for the past two decades, these drums symbolise Okyeame's adeptness in his field of endeavour (rap). He is clad in a warrior-like attire which is a hybrid of traditional and modern apparels - with an ahenema (traditional slippers) to match. This means that modernity influences culture and that tinging culture with other cultures should not result losing one's self and identity. The background art has a monkey which represents the monkey sanctuary. It also has the Independence Square, the Adomi Bridge, Okomfo Anokye, Mountain Afadjato – which all signify historical events and personalities of Ghana. The 'Made in Ghana' project is to highlight the virtues of all groups of people in Ghana across the various regions as it also encourages Ghanaians to be proud of their culture and heritage. The music videos will showcase some tourist sites in Ghana as Kwame's contribution to marketing Ghana's tourist sites. Already, two songs have been released off the album; the theme song 'Made in Ghana' which features KiDi and 'Bra' which features Wutah Afriyie. After the album launch on March 29, 2019 music lovers will have a tastes of the other great songs on the album. Dietena ft Wiyaala & king Ralph, Bolgatanga Girl ft Abiana & Atongo Zimba, Yenzima ft Fancy Gadam, Nkunim ft Feli Finest and Bra ft Afriyie (Wutah). The rest are '1956' ft Kurl Songs & Ayesem, 'Ino Be My Matter' ft. Kuami Eugene, 'Kpa' ft. Wulomei and 'Melowo' ft. Feli Nuna. Okyeame Kwame is gradually emerging as a 'Made in Ghana' hero as he has shown without a shred of doubt, his dedication to imbuing the pride of Ghana in Ghanaians. The 'Made in Ghana' ambassador really deserves a national honour from the President for championing this cause through music. source:modernghana.com
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THE LEGEND OF WAZAL

  • Mar 21, 2019
  • g/History
  • WAZAL
https://www.facebook.com/Wazal-%C3%A9crivain-152002168722067/ http://www.ladyt237.com/index.php/2018/05/28/the-legend-of-wazal-a-wazalkaliflagilistik-story/ "The Legend of Wazal" is an entertaining short story set in Africa aimed at showcasing various regions in the continent like theLake Chad Basin and Cameroon. The various landscapes, architecture, customs, taboos, rituals, clothing cultures, fabrics, accessories, hairstyles - the colors of everyday life! Through this comic book, I bring to life my culture, my source of inspiration, my gift and passion for fashion that I received from my late father, the designer Ayissi Nga Pierre Celestin. My inspiration comes from Africa itself. This is the very essence of my works. For the Wazaliane fabric, I drew inspiration from theGhanaian and Cameroonian fabrics; Kenté and Ndop. As for the dress code in thevillage of Wazalville, I included a Nigerian touch that fit well with the two previous fabrics. Africa is a melting pot of ideas for me. I draw what seems interesting to me and transform it into something unique. http://thehotjem.com/the-legend-of-wazal-a-story-by-fashion-designer-and-writer-ayissi-nga-joseph-marie/
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Newspaper headlines for today 21st March, 2019
Newspaper headlines for today 21st March, 2019
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waiting to see the end

Waiting to see the end

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Chai, if you have one PM me

Chai, if you have one PM me

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favourite Ghanaian food? Choose and comment below.. LOL
favourite Ghanaian food? Choose and comment below.. LOL
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Answer???

Answer???

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No wonder; "I was begged to destroy Anas"
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