BUSINESS NEWS | GHANA AND BEYOND 🌍 01/04/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 01/04/2019

  • Apr 2, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 01/04/2019
🚩 Figures released by the Bank of Ghana(BoG) in its latest Summary of Economic and Financial Data show that Ghana’s debt stock increased by 21.5 percent in 2018. By this, the country added Gh¢30.6 billion to its debt stock in 2018. The debt stock at the end of 2017 stood at Gh¢142.6 billion, increasing to Gh¢173.2 billion in 2018. Government in the period raised a number of bonds including Eurobond and domestic bonds to embark on infrastructure development and also retire some maturing debts.

🚩 The Ghana Maritime Authority (GMA) has signed a three-year strategic sector cooperation agreement with its Danish counterpart, the Danish Maritime Authority, marking the start of the second phase of an e-navigation programme that seeks to enhance surveillance of the country’s territorial waters. The second phase of the e-navigation will also support implementation of international maritime regulations and train tug-boat captains with advanced simulators in Denmark.

🚩 The government has released funds to ensure full completion of the Boaso Bamboo Processing Factory under flagship policy of One-Distric-One-Factory in the Atwima Nwanbiagya District in the Ashanti Region after several concerns by the people in the region. This came to light after the Chief of the Boaso, Nana Kofi Bimpong II had several meetings with the Trade and Industry Ministry and later disclosed to journalists the government's commitment to pump money into the project.

🚩 Bank deposits have risen significantly over the last few months after the banking sector reforms, Head of Banking Supervision at the Bank of Ghana, Osei Gyasi has said. Mr Gyasi said there has been improved customer confidence among traders that banks that survived after the reforms are capable of holding their funds. He was speaking at the CEOs Breakfast meeting by the Ghana Investment Promotion Centre (GIPC) in collaboration with JoyBusiness.

🚩 Aker Energy Ghana Limited, the Norwegian oil company operating the offshore Deepwater Tano/Cape Three Points (DWT/CTP) oil block in the Western Region, has submitted a $4.4 billion investment plan for developing the block to the Ministry of Energy. The Pecan field at the DWT/CTP is estimated to hold 334 million barrels of oil equivalent (mboe), with an estimated plateau production of 110,000 barrels of oil per day to last for about 25 years.

🚩 Barclays Bank Ghana, a member of Absa Group, recorded an impressive growth of support to its customers and businesses during 2018, the bank’s 2018 financial results released March 28, 2019 has indicated. According to Barclays, it increased its loans and advances to customers to the tune of GHS 3.125 billion last year which represented a growth rate of 35%. This is as a result of the bank’s believe in providing financial support to Ghanaian businesses including SMEs to stimulate economic growth.

🚩 The Ghana Grid Company Limited (GRIDCo) has been hit by a salary delay following the takeover of the management of the Electricity Company of Ghana (ECG) by Power Distribution Services (PDS).
Staff of the company will, therefore, experience delay in the payment of their March salary. Announcing the news to all staff in a circular dated 27 March, GRIDCo’s Chief Executive Jonathan Amoako-Baah said, “due to the operationalization of the Power Distribution Service (PDS) as part of the Electricity Company of Ghana (ECG) reforms, we anticipate a few days delay in the payment of the March 2019 salary.

🚩 Customers of defunct gold dealership, Menzgold , will from April 2 begin a series of demonstrations to demand their locked up principal investments. The Coalition of Aggrieved Customers of Menzgold Ghana Limited said in a press statement issued on March 27 that its members – about 6,000 people – will embark on continuous picketing at the Premises of the Economic and Organised Crime Office (EOCO), the Securities and Exchange Commission (SEC), the Attorney Generals' Department and the Jubilee House to press home their demands.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.0809 Sell 5.0859
GB£Gh¢ Buy 6.6123 Sell 6.6208
CAD$Gh¢ Buy 3.8030 Sell 3.8068
JP¥Gh¢ Buy 0.0458 Sell 0.0459
ZARGh¢ Buy 0.3508 Sell 0.3512
EU€Gh¢ Buy 5.7052 Sell 5.7115
CHN¥Gh¢ Buy 0.7566 Sell 0.7575
Gh¢CFA Buy 114.85 Sell 114.98
Gh¢NG₦ Buy 60.23 Sell 60.28
BITCOIN Trading Price $4,016.98 ▲$3.24 ▲0.18%
ETHEREUM Trading Price $137.52 ▲$0.79 ▲0.52%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.83%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
CAL +10.53% ➡️Gh¢1.05
GCB +4.99% ➡️Gh¢4.00
MTNGH +2.94% ➡️Gh¢0.70
BOPP +0.48% ➡️Gh¢4.15

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GOIL -0.79% ➡️Gh¢2.51


〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%)

✳Policy Rate in Ghana ➡️ 16.00% (-5.88%)

¶ TREASURY BILLS RATE💸
91 - Day Discount Rate 14.1953% Interest Rate 14.7176%
182 - Day Discount Rate 14.0914% Interest Rate 15.1595%
364 - Day Discount Rate 15.3904% Interest Rate 18.1898%
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%

🐂GHANA GOV'T EUROBOND RATES 🏦
7 Year Bond Coupon Rate 7.8750%
12 Year Bond Coupon Rate 8.1250%
31 Year Bond Coupon Rate 8.9500%


🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +49.71% ➡️Gh¢5.09
SOGEGH +20.00% ➡️Gh¢0.90
AYRTN +14.29% ➡️Gh¢0.08
ACCESS +12.68% ➡️Gh¢4.00
ALW +12.50% ➡️Gh¢0.09

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
SIC -21.05% ➡️Gh¢0.15
GOIL -19.55% ➡️Gh¢2.51
BOPP -18.47% ➡️Gh¢4.15
GCB -13.04% ➡️Gh¢4.00
MTNGH -11.39% ➡️Gh¢0.70

🛢Average Petrol & Diesel Price Per Litre - Gh¢5.24 (+1.16%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,928.68 +211.22 +0.82%
*S&P 500 🏦 2,834.40 +18.96 +0.67%
*Nasdaq Index📲💻  7,729.32 +60.16 +0.78%
* NYSE Composite Index 12,696.88 +64.30 +0.51%
*London FTSE 100 7,279.19 +44.86 +0.62%
*Germany DAX 11,526.04 +97.88 +0.86%
*Japan NIKKEI 225 21,505.20 +299.39 +1.41%
*Hong Kong HANG SENG  29,518.79 +467.43 +1.61%
* Shanghai Shenzhen 300 3,966.97 +94.63 +2.44%
*S&P/ASX 200 Index 6,217.00 +36.27 +0.59%
*Bloomsberg EU 500 254.93 +1.59 +0.63%
*FTSE/JSE South Africa Top40 50,273.93 +370.62 +0.74%
*Nairobi SE 20 Share 2,846.35 +10.88 +0.38%
*Nigeria SE Main-Board Index 31,041.42 +207.92 +0.67%
*GSE Composite Index 2454.51 35.02 (+1.45%)
*GSE Financial Index 2155.29 21.54 (+1.01%)


💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
SEM All-Africa 🔼+10.67%
Republic Equity 🔼+1.58%
Omega Equity 🔼+4.13%
HeritageFund 🔻-0.47%
Legacy Trust 🔼+3.22%
EPAcK 🔼+2.45%
Dalex Vision 🔼+3.36%
Anidaso Fund 🔼+1.01%
NTHC Horizon 🔼+0.96%

⚖BALANCED FUNDS ⏸YTD%
UMB Balanced 🔼+3.29%
Republic F Plan 🔼+1.99%
MyWealth Trust 🔼+2.64%
Kiddifund 🔼+0.73%
EdiFund T2 🔼+2.95%
EDC Balanced 🔼+0.21%
CM Fund 🔼+4.98%
CDH Balanced 🔼+3.74%
Bfund 🔼+2.26%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+20.04%
FirstFund 🔼+16.01%
Galaxy Mfund 🔼+9.39%
Republic Unit +11.14%
SEM MoneyPlus 🔼+14.21%
TTL IncomeHaven 🔼+19.02%


⚙FIXED INCOME FUNDS 🛡YTD%
 STANLIB Income 🔼+4.05%
SiriusOpportunity 🔼+2.87%
Omega Income 🔼+3.43%
SEM Income 🔼+2.40%
Mfund 🔼+3.35%
EdiFund T1 🔼+3.15%
Gold Money 🔼+5.57%


✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $67.78 +0.20 +0.30%
*Natural Gas 🏭 $/million BTUS $2.68 +0.02 +0.64%
*Gold 👑 $/troy ounce $1,298.10 -0.40 -0.03%
*Silver 💍 $/troy ounce $15.13 +0.02 +0.10%
*Corn 🌽 $/bushel $358.75 +2.25 +0.63%
*Cocoa 🍫 $/metric ton  $2,280.00 +23.00 +1.02%
*Coffee ☕ ¢/pound   $94.50 +0.50 +0.53%
*Sugar🎂 ¢/pound $12.53 0.00 0.00%

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

1 Comment

Apr 2, 2019

Hello, we hope this business news are not duplicates in contents of previous ones. Kindly let us know, because there have been huge similarities.

 
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