🚩 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.
¶ 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%
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%
⚙FIXED INCOME FUNDS 🛡
TTL IncomeHaven 🔼+25.53%
Galaxy Mfund 🔼+18.87%
Omega Income 🔼+17.99%
SEM Income 🔼+17.55%
EDC Fixed Income 🔼+16.85%
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