BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 07/03/2019
 
 

BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 07/03/2019

  • Mar 7, 2019
  • g/Business
  • Aiphay
BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 07/03/2019
🚩 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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