BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 12/03/2019
 
 

BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 12/03/2019

  • Mar 12, 2019
  • g/Business
  • Aiphay
BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 12/03/2019
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.

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✴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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