BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019
🚩 The Minister for Energy, John Peter Amewu has strongly indicated that government will waste no time in reassuming the operations of the Electricity Company of Ghana (ECG) if the new managers, Power Distribution Services (PDS) fail to meet their key performance indicators. PDS is taking over the management and operations of the ECG after meralco consortium, a major shareholder in PDS won a bid to manage the ECG. Speaking at a handing over ceremony in Accra, Energy Minister Mr. Amewu stated that the operations of PDS will closely be monitored to ensure performance delivery.

🚩 The Receiver of defunct Heritage Bank, Vish Ashiagbor has directed that all branches of the bank across the country should cease operations except the Tema Community 1, and Suame – Kumasi branches. A letter by Vish Ashiagbor sighted by Citi Business News said “Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, 28 February 2019”. It added that “unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office daily”.

🚩 The United States of America has expressed her commitment to fully support Ghana’s power sector towards transforming the economy and achieving the “Ghana Beyond Aid” agenda. The US government pledged to continue investing hundreds of millions of dollars in the power sector to aid the government of Ghana’s industrial agenda. Madam Stephanie Sullivan, the US Ambassador to Ghana, speaking at the official transfer of Electricity Company of Ghana’s (ECG) assets and operations to Power Distribution Services Ghana Limited (PDS), in Accra, on Wednesday, said the take-over would aid in restructuring Ghana’s energy sector through private sector participation.

🚩 A factory under construction in the Tano North District to produce bricks for housing and related projects will soon be completed. The factory, which is under the government’s flagship project, One-District-One-Factory (1D1F), is about 85% complete, with the remaining 15% expected to be completed in two weeks’ time. Owners of the brick factory, Rhovanni Royal Limited, led the National Coordinator of the 1D1F project, Gifty Ohene-Konadu, on a tour of the facility recently for her to know the level of progress of the brick factory. It’s expected to commence operations in the second quarter of this year.

🚩 President of Dangote Group, Aliko Dangote has emerged as 64th richest person in the world with an estimated $16.6 billion, as against his previous ranking of 103rd in the world. Aliko Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 500 billionaires, as released last week by Bloomberg in its yearly billionaires list.

🚩 About 60 economically viable but struggling businesses in both private and public sector have received financial and technical support as part of stimulus package under the National Industrial Revitalization Program. According to Deputy Minister of Trade and Industry, Carlos Ahenkora, the program has been successful over the two years but hoping to bring more businesses on board by the end of the year. The National Industrial Revitalization Programme is an initiative by the government to revive struggling businesses with the potential to expand if given support.

🚩 BlackBerry has filed a patent infringement lawsuit accusing Twitter (NYSE:TWTR) of illegally using technology in its mobile messaging applications that had been developed by the former smartphone maker. The suit resembles previous patent infringement cases that BlackBerry (NYSE:BB) filed against Facebook (NASDAQ:FB) and Snap (NYSE:SNAP) - which are still pending - according to records with the U.S. District Court in Los Angeles.


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.1726 Sell 5.1778
GB£Gh¢ Buy 6.8656 Sell 6.8751
CAD$Gh¢ Buy 3.9212 Sell 3.9255
JP¥Gh¢ Buy 0.0464 Sell 0.0465
ZARGh¢ Buy 0.3683 Sell 0.3687
EU€Gh¢ Buy 5.8771 Sell 5.8827
CHN¥Gh¢ Buy 0.7731 Sell 0.7735
Gh¢CFA Buy 111.51 Sell 111.61
Gh¢NG₦ Buy 59.14 Sell 59.20
BITCOIN Trading Price $3,800.77 ▲$55.01 ▲1.47%
ETHEREUM Trading Price $134.94 ▲$4.23 ▲3.23%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
EGH +7.29% ➡️Gh¢7.51
CAL +3.16% ➡️Gh¢0.98
EGL +0.46% ➡️Gh¢2.18
GCB +0.29% ➡️Gh¢3.51

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GOIL -0.34% ➡️Gh¢2.92


〽️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%

🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +35.29% ➡️Gh¢4.60
SOGEGH +30.67% ➡️Gh¢0.98
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
ACCESS +7.04% ➡️Gh¢3.80

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
GCB -23.70% ➡️Gh¢3.51
RBGH -20.29% ➡️Gh¢0.55
CMLT -10.00% ➡️Gh¢0.09
MTNGH -7.59% ➡️Gh¢0.73
GOIL -6.41% ➡️Gh¢2.92

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,916.00 -69.16 -0.27%
*S&P 500 🏦 2,792.38 -1.52 -0.05%
*Nasdaq Index📲💻  7,532.53 -21.98 -0.29%
* NYSE Composite Index 12,644.80 -45.07 -0.36%
*London FTSE 100 7,074.73 -32.47 -0.46%
*Germany DAX 11,515.64 +28.31 +0.25%
*Japan NIKKEI 225 21,385.16 -171.35 -0.79%
*Hong Kong HANG SENG  28,633.18 -124.26 -0.43%
* Shanghai Shenzhen 300 3,669.37 -9.02 -0.25%
*S&P/ASX 200 Index 6,168.99 +18.72 +0.30%
*Bloomsberg EU 500 250.59 +0.37 +0.15%
*FTSE/JSE South Africa Top40 49,667.10 -287.95 -0.58%
*Nairobi SE 20 Share 2,894.20 -38.20 -1.30%
*Nigeria SE Main-Board Index 31,721.76 -522.48 -1.62%
*GSE Composite Index 2479.04 18.30 (+0.74%)
*GSE Financial Index 2105.95 35.76 (+1.73%)


💧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⛽ $66.03 -0.36 -0.54%
*Natural Gas 🏭 $/million BTUS $2.81 +0.01 +0.29%
*Gold 👑 $/troy ounce $1,314.40 -6.80 -0.51%
*Silver 💍 $/troy ounce $15.64 -0.13 -0.80%
*Corn 🌽 $/bushel $370.75 -3.00 -0.80%
*Cocoa 🍫 $/metric ton  $2,247.00 -66.00 -2.85%
*Coffee ☕ ¢/pound  $98.45 -0.50 -0.51%
*Sugar🎂 ¢/pound $12.78 -0.19 -1.46%

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

Contact Prince Henry via:
☎Mobile: +233(0)50-002-3155
📧E-mail: tthenry83@gmail.com
👥Facebook:  Prince Henry Danquah
💬Twitter: @princehenry_1


❗PLEASE SHARE ❗ BUSINESS NEWS | GHANA AND BEYOND 🌍 01/03/2019

🚩 The Minister for Energy, John Peter Amewu has strongly indicated that government will waste no time in reassuming the operations of the Electricity Company of Ghana (ECG) if the new managers, Power Distribution Services (PDS) fail to meet their key performance indicators. PDS is taking over the management and operations of the ECG after meralco consortium, a major shareholder in PDS won a bid to manage the ECG. Speaking at a handing over ceremony in Accra, Energy Minister Mr. Amewu stated that the operations of PDS will closely be monitored to ensure performance delivery.

🚩 The Receiver of defunct Heritage Bank, Vish Ashiagbor has directed that all branches of the bank across the country should cease operations except the Tema Community 1, and Suame – Kumasi branches. A letter by Vish Ashiagbor sighted by Citi Business News said “Consolidated Bank Ghana will cease to operate the former branches of Heritage bank after close of business on Thursday, 28 February 2019”. It added that “unless specifically requested, all the Receiver’s consultant staff will no longer be required to physically report to work at the former branches or Head Office daily”.

🚩 The United States of America has expressed her commitment to fully support Ghana’s power sector towards transforming the economy and achieving the “Ghana Beyond Aid” agenda. The US government pledged to continue investing hundreds of millions of dollars in the power sector to aid the government of Ghana’s industrial agenda. Madam Stephanie Sullivan, the US Ambassador to Ghana, speaking at the official transfer of Electricity Company of Ghana’s (ECG) assets and operations to Power Distribution Services Ghana Limited (PDS), in Accra, on Wednesday, said the take-over would aid in restructuring Ghana’s energy sector through private sector participation.

🚩 A factory under construction in the Tano North District to produce bricks for housing and related projects will soon be completed. The factory, which is under the government’s flagship project, One-District-One-Factory (1D1F), is about 85% complete, with the remaining 15% expected to be completed in two weeks’ time. Owners of the brick factory, Rhovanni Royal Limited, led the National Coordinator of the 1D1F project, Gifty Ohene-Konadu, on a tour of the facility recently for her to know the level of progress of the brick factory. It’s expected to commence operations in the second quarter of this year.

🚩 President of Dangote Group, Aliko Dangote has emerged as 64th richest person in the world with an estimated $16.6 billion, as against his previous ranking of 103rd in the world. Aliko Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 500 billionaires, as released last week by Bloomberg in its yearly billionaires list.

🚩 About 60 economically viable but struggling businesses in both private and public sector have received financial and technical support as part of stimulus package under the National Industrial Revitalization Program. According to Deputy Minister of Trade and Industry, Carlos Ahenkora, the program has been successful over the two years but hoping to bring more businesses on board by the end of the year. The National Industrial Revitalization Programme is an initiative by the government to revive struggling businesses with the potential to expand if given support.

🚩 BlackBerry has filed a patent infringement lawsuit accusing Twitter (NYSE:TWTR) of illegally using technology in its mobile messaging applications that had been developed by the former smartphone maker. The suit resembles previous patent infringement cases that BlackBerry (NYSE:BB) filed against Facebook (NASDAQ:FB) and Snap (NYSE:SNAP) - which are still pending - according to records with the U.S. District Court in Los Angeles.


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.1726 Sell 5.1778
GB£Gh¢ Buy 6.8656 Sell 6.8751
CAD$Gh¢ Buy 3.9212 Sell 3.9255
JP¥Gh¢ Buy 0.0464 Sell 0.0465
ZARGh¢ Buy 0.3683 Sell 0.3687
EU€Gh¢ Buy 5.8771 Sell 5.8827
CHN¥Gh¢ Buy 0.7731 Sell 0.7735
Gh¢CFA Buy 111.51 Sell 111.61
Gh¢NG₦ Buy 59.14 Sell 59.20
BITCOIN Trading Price $3,800.77 ▲$55.01 ▲1.47%
ETHEREUM Trading Price $134.94 ▲$4.23 ▲3.23%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲1.97%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
EGH +7.29% ➡️Gh¢7.51
CAL +3.16% ➡️Gh¢0.98
EGL +0.46% ➡️Gh¢2.18
GCB +0.29% ➡️Gh¢3.51

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GOIL -0.34% ➡️Gh¢2.92


〽️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%

🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +35.29% ➡️Gh¢4.60
SOGEGH +30.67% ➡️Gh¢0.98
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
ACCESS +7.04% ➡️Gh¢3.80

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
GCB -23.70% ➡️Gh¢3.51
RBGH -20.29% ➡️Gh¢0.55
CMLT -10.00% ➡️Gh¢0.09
MTNGH -7.59% ➡️Gh¢0.73
GOIL -6.41% ➡️Gh¢2.92

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,916.00 -69.16 -0.27%
*S&P 500 🏦 2,792.38 -1.52 -0.05%
*Nasdaq Index📲💻  7,532.53 -21.98 -0.29%
* NYSE Composite Index 12,644.80 -45.07 -0.36%
*London FTSE 100 7,074.73 -32.47 -0.46%
*Germany DAX 11,515.64 +28.31 +0.25%
*Japan NIKKEI 225 21,385.16 -171.35 -0.79%
*Hong Kong HANG SENG  28,633.18 -124.26 -0.43%
* Shanghai Shenzhen 300 3,669.37 -9.02 -0.25%
*S&P/ASX 200 Index 6,168.99 +18.72 +0.30%
*Bloomsberg EU 500 250.59 +0.37 +0.15%
*FTSE/JSE South Africa Top40 49,667.10 -287.95 -0.58%
*Nairobi SE 20 Share 2,894.20 -38.20 -1.30%
*Nigeria SE Main-Board Index 31,721.76 -522.48 -1.62%
*GSE Composite Index 2479.04 18.30 (+0.74%)
*GSE Financial Index 2105.95 35.76 (+1.73%)


💧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⛽ $66.03 -0.36 -0.54%
*Natural Gas 🏭 $/million BTUS $2.81 +0.01 +0.29%
*Gold 👑 $/troy ounce $1,314.40 -6.80 -0.51%
*Silver 💍 $/troy ounce $15.64 -0.13 -0.80%
*Corn 🌽 $/bushel $370.75 -3.00 -0.80%
*Cocoa 🍫 $/metric ton  $2,247.00 -66.00 -2.85%
*Coffee ☕ ¢/pound  $98.45 -0.50 -0.51%
*Sugar🎂 ¢/pound $12.78 -0.19 -1.46%

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

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