BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 22/01/2019
 
 

BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 22/01/2019

  • Jan 22, 2019
  • g/Business
  • Aiphay
BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 22/01/2019
🚩 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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