BUSINESS NEWS | GHANA AND BEYOND 🌍 04/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 04/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 04/03/2019
🚩 Ghana, currently the 11 biggest economy in Africa, is expected to become the fourth fastest-growing economy in Africa this year, according to the International Monetary Fund (IMF). The West African country is expected to hit 7.6 per cent Gross Domestic Product (GDP) growth rate, from the projected 6.3 per cent GDP in 2018, the IMF said, adding “Ghana is an economic powerhouse in West Africa with a GDP size of approximately $51 billion.”

🚩 Consumers should brace themselves to pay more for fuel at the various pumps as the price exceeds 5 cedis per litre. This is according to the Institute of Energy Security (IES). The IES says the increment in price of fuel is occasioned by the 6.33% rise in average Brent crude price, as well as a corresponding 8.81% and 5.56% increase in prices of Gasoline and Gasoil on the international market respectively. The IES added the increase can also be attributed to the cumulative depreciation of the Cedi against the U.S dollar.

🚩 A release by the Bank of Ghana on Friday, effectively has confirmed that two of the three ongoing mergers between universal banks in Ghana have been completed. The release lists 23 commercial banks as duly registered by the central bank. The list includes First Atlantic Bank, but not Energy Commercial Bank, which it has been in the process of acquiring since December last year; and Omni-BSIC Bank which is the result of a merger between the erstwhile Omni Bank and BSIC (otherwise known as Sahel Sahara Bank), both of which had been in merger negotiations since mid-2018, as a marriage of “two equals” as confirmed by the name now adopted for the merged entity.

🚩 A global cocoa surplus is expected in the 2018/19 season, Informa’s Agribusiness intelligence said on Thursday, with record production driven by favourable weather in West Africa. Global cocoa production was seen hitting a record high of 4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report. The projected surplus was slightly higher than the median forecast of 30,000 tonnes in a Reuters poll earlier this month. The ICCO’s most recent estimate for the 2017/2018 season was a small surplus of 22,000 tonnes.

🚩 Parliament has approved a US$10 million loan facility made available by the African Development Bank (AfDB) to begin the implementation of a project aimed at lowering credit risk in the agriculture sector. In the 2019 budget of the Agriculture Ministry, an amount of US$410 million was voted to de-risk the sector through agricultural insurance cover for farmers and their produce. AfDB subsequently committed to provide a loan facility to support this initiative.

🚩 The President, His Excellency Nana Addo Dankwa Akufo Addo, has appointed Mr Michael Ansah, as Chief Executive Officer of the newly established Ghana Integrated Aluminium Development Corporation. The Government has outlined its intent to develop an Integrated Aluminium Industry which will be one of the major pillars to drive the industrial transformation and accelerated development of the Ghanaian economy.

🚩 Royal Dutch Shell Plc  is facing prosecution in the Netherlands over a license in Nigeria, intensifying its legal troubles from a transaction that has dogged the company for years. “We have been informed by the Dutch Public Prosecutor’s Office that they are nearing the conclusion of their investigation and are preparing to prosecute,” The Hague-based Shell said Friday.


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.1976 Sell 5.2028
GB£Gh¢ Buy 6.8988 Sell 6.9078
CAD$Gh¢ Buy 3.9309 Sell 3.9349
JP¥Gh¢ Buy 0.0465 Sell 0.0466
ZARGh¢ Buy 0.3671 Sell 0.3675
EU€Gh¢ Buy 5.9237 Sell 5.9284
CHN¥Gh¢ Buy 0.7758 Sell 0.7761
Gh¢CFA Buy 110.65 Sell 110.73
Gh¢NG₦ Buy 58.85 Sell 58.91
BITCOIN Trading Price $3,781.20 ▼$-24.37 ▼-0.64%
ETHEREUM Trading Price $130.34 ▼$-1.11 ▼-0.84%
RIPPLE Trading Price $0.31 ▼$-0.01 ▼-1.26%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
ETI +6.67% ➡️Gh¢0.16
CAL +5.10% ➡️Gh¢1.03
MTNGH +1.37% ➡️Gh¢0.74

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
EGH -6.39% ➡️Gh¢7.03
GOIL -0.68% ➡️Gh¢2.90
TOTAL -0.22% ➡️Gh¢4.59


〽️Inflation rate in Ghana  ➡️  9.00% (-4.26%)

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

¶ TREASURY BILLS RATE💸
91 - Day Discount Rate 14.1868% Interest Rate 14.7085%
182 - Day Discount Rate 14.0676% Interest Rate 15.1320%
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 +35.00% ➡️Gh¢4.59
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¢ ➡️Gh¢0.55
CMLT -10.00% ➡️Gh¢0.09
GOIL -7.05% ➡️Gh¢2.90
MTNGH -6.33% ➡️Gh¢0.74

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,026.32 +110.32 +0.43%
*S&P 500 🏦 2,803.69 +19.20 +0.69%
*Nasdaq Index📲💻  7,595.35 +62.82 +0.83%
* NYSE Composite Index 12,700.67 +55.86 +0.44%
*London FTSE 100 7,106.73 +32.00 +0.45%
*Germany DAX 11,601.68 +86.04 +0.75%
*Japan NIKKEI 225 21,602.69 +217.53 +1.02%
*Hong Kong HANG SENG  28,812.17 +178.99 +0.63%
* Shanghai Shenzhen 300 3,749.71 +80.34 +2.19%
*S&P/ASX 200 Index 6,192.73 +23.74 +0.38%
*Bloomsberg EU 500 251.81 +1.22 +0.49%
*FTSE/JSE South Africa Top40 49,841.27 +174.17 +0.35%
*Nairobi SE 20 Share 2,916.19 +21.99 +0.76%
*Nigeria SE Main-Board Index 31,827.24 +105.48 +0.33%
*GSE Composite Index 2482.10 3.06 (+0.12%)
*GSE Financial Index 2090.10 -15.85 (-0.75%)


💧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⛽ $65.07 -1.24 -1.87%
*Natural Gas 🏭 $/million BTUS $2.86 +0.05 +1.67%
*Gold 👑 $/troy ounce $1,299.20 -16.90 -1.28%
*Silver 💍 $/troy ounce $15.26 -0.38 -2.42%
*Corn 🌽 $/bushel $373.00 +2.25 +0.61%
*Cocoa 🍫 $/metric ton  $2,217.00 -30.00 -1.34%
*Coffee ☕ ¢/pound  $100.20 +1.75 +1.78%
*Sugar🎂 ¢/pound $12.62 -0.16 -1.25%

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

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