BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 27/02/2019
 
 

BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 27/02/2019

  • Feb 28, 2019
  • g/Business
  • Aiphay
BUSINESS/ FINANCIAL NEWS | GHANA AND BEYOND 🌍 27/02/2019
🚩 The London Stock Exchange (LSE) has agreed to partner Ghana in a bid to aid the development and robustness of her capital markets infrastructure. The agreement was reached when Ghana’s delegation, led by Vice President Dr. Mahamudu Bawumia, held a joint meeting with the leadership of the LSE, at the sidelines of the Ghana-United-Kingdom Business Council meeting, in London, on Monday. Mr. Nikhil Rathi, the Chief Executive Officer and Director of International Development of LSE, led his team to sign the agreement.

🚩 The International Monetary Fund (IMF) is backing government to overhaul its tax exemptions regime to boost its failing domestic revenue. The Washington-based lender, in its latest review of Ghana’s ongoing bailout programme, said rationalising tax exemptions will improve government’s domestic revenue mobilisation. Domestic revenue performance over the past two-three years has not met the budgeted estimates, with last year’s target falling short by about 10 percent and prompting government to realign its expenditure in view of the shortfall.

🚩 Domestic Airline, Africa World Airlines (AWA) and South Africa Airways have signed a Memorandum of Understanding (MoU) to formalize and enhance corporation between the two Airlines. Chief Executive Officer of South Africa Airlines Vuyani Jarana explained that the partnership was going to expand connectivity for Africa. “We are a firm believer that for Africa to be connected, it is not going to be just one airline but it will take such partnerships and collaborations between airlines like ours and this will create better and wider connectivity.”

🚩 Stratcomm Africa’s Chief Executive Officer, Esther A. N. Cobbah, has been appointed to the Board of the International Public Relations Association (IPRA). The seventeen-member Board, drawn from the Association’s global membership, was inaugurated in Vienna, Austria on 23rd February 2019. Esther is the first member of the Board from Africa South of the Sahara. Svetlana Stavreva, External Relations Manager, Global Technology Services (GTS), IBM Europe and Official Member of the Forbes Communications Council was also installed in Vienna, Austria, as President of the IPRA on 22nd February 2019 for the next year. The IPRA board is the governing body of the association.

🚩 Operators in the downstream petroleum industry have signed a Safety Declaration form issued by the National Petroleum Authority (NPA) as part of its campaign to engage all stakeholders on the collective responsibility of safety.
Necessitated by the Atomic junction and Kumasi gas explosion incidents, Chief Executive Officer for NPA, Alhassan Tampuli, indicated that the Safety campaign is a clarion call to uphold operational standards that will prevent any further disasters.

🚩 Director General of the Ghana Ports and Harbours Authority (GPHA), Michael Luguje, has disclosed that a national supply chain management skills development and awareness campaign is needed in order to drive local growth and participation in the ocean economy. Through a corporate citizenry partnership with Professor Douglas Boateng, GPHA and the Ghana Maritime Authority (GMA) will make limited copies of the world’s only inclusive supply chain management compendium, available to select organisations and individuals operating in amongst others, Ghana’s maritime supply chain sector.

🚩 Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump’s call to temper prices. Futures in New York extended losses after sliding 3.1 percent on Monday, the most in four weeks. While crude is still over 25 percent below a four-year high in October, the U.S. president tweeted on Monday that prices are getting too high and called on the Organization of Petroleum Exporting Countries to “relax and take it easy.”


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.0976 Sell 5.1027
GB£Gh¢ Buy 6.7181 Sell 6.7264
CAD$Gh¢ Buy 3.8566 Sell 3.8593
JP¥Gh¢ Buy 0.0460 Sell 0.0461
ZARGh¢ Buy 0.3680 Sell 0.3683
EU€Gh¢ Buy 5.7925 Sell 5.7966
CHN¥Gh¢ Buy 0.7614 Sell 0.7616
Gh¢CFA Buy 113.16 Sell 113.24
Gh¢NG₦ Buy 60.01 Sell 60.07
BITCOIN Trading Price $3,798.97 ▼$-12.63 ▼-0.33%
ETHEREUM Trading Price $135.74 ▼$19.83 ▼14.26B%
RIPPLE Trading Price $0.31 ▼$-0.01 ▼-8.39%



〽️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%


🛢Average Petrol & Diesel Price Per Litre - Gh¢4.94 (-3.30%)


💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰
Legacy Trust 🔼+0.51%
SEM All-Africa 🔼+4.63%
HeritageFund 🔼+0.04%
EPAcK 🔼+1.83%
Dalex Vision 🔼+0.63%
Anidaso Fund 🔻-0.15%

⚖BALANCED FUNDS ⏸
CDH Balanced 🔼+1.20%
EdiFund T2 🔼+1.05%
UMB Balanced 🔼+1.93%
MyWealth Trust 🔼+0.59%
EDC Balanced 🔻-0.66%
Republic F Plan 🔼+1.06%
GalaxyBfund 🔻-0.36%
Bfund 🔼+0.78%

⚙FIXED INCOME FUNDS 🛡
Omega Income 🔼+1.56%
Mfund 🔼+1.66%
STANLIB Income 🔼+1.92%
SEM MoneyPlus 🔼+14.81%
FirstFund 🔼+16.83%
EDC Fixed Income 🔼+16.61%
TTL IncomeHaven 🔼+22.00%
Republic Unit 🔼+11.76%
SEM Income 🔼+1.25%





Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Prince Henry
 
 

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