BUSINESS NEWS | GHANA AND BEYOND 🌍 05/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 05/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 05/03/2019

🚩 OmniBank Ghana Limited and Sahel Sahara Bank Ghana limited (BSIC) have merged into a new entity named Omnibsic. The two entities thus effective 4th March, operate under the merged name Omnibsic. The merger was necessitated in their bid to meet the meet the Bank of Ghana’s new minimum capital requirement of 400 million cedis. An official statement released by the merged bank stated that “This merger represents a pooling of the expertise of the two major banks with strengths in various banking services to provide more opportunities, increase access and make the merged entity attractive to the banking public”.

🚩 FBN Bank Ghana Limited, has disclosed that it is working in close collaboration with the EXIM Bank to support businesses interested in entering the agricultural sector. According to the bank, it will use its experience of supporting such businesses from Nigeria to do same in Ghana. A number of banks in the country have over the years shied away from investing in the agricultural sector because of the high risk involved.

🚩 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.

🚩 As the cedi continues to show some weakness against the dollar, there are calls from observers to halt the rate of depreciation the currency to stabilize prices. The local currency since the beginning of the year has seen over 8.6 percent depreciation, causing currency analysts to question measures put in place to stabilize the cedi. The cedi, as at December 2018 was trading against the dollar at 4 cedis 86 pesewas. The currency then began to experience a drop by the third week in January. Checks by Citi Business News at forex bureaus on Friday [March 1, 2019] indicated that the cedi has weakened to 5 cedis 33 pesewas.

🚩 Finance Minister Ken Ofori Atta says government can only do little about investments locked up in financial institutions that promise unrealistic returns over a short period of time. According to him, any organisation that promise a fixed return at the end of the month should be taken a second look at. Finance Minister, Ken Ofori Atta last month at Burma Camp in Accra revealed that official records show at least 200 million cedis have been locked up in defunct investment firm Menzgold.

🚩 Jumia, Africa’s leading e-commerce platform, has signed a partnership with technology firm Xiaomi at the Mobile World Congress in Barcelona, giving millions of users in Africa easy access to Xiaomi products. Through the partnership, Jumia will open the Mi official store on its platform and give Xiaomi access to millions of online customers across 14 countries in the continent, while Jumia will be able to offer Redmi Go (1GB+8GB) exclusively in Africa as well as other devices later in the year.

🚩 General Manager of Legal Affairs at the Ghana Ports and Harbour Authority (GPHA), Sandra Opoku has been appointed the acting Director of Tema Port. DGN Online understands that she is taking over from lawyer Edward Osei. According to information available to DGN Online, the Director-General of GPHA informed management of Tema Port on Sunday, March 3, 2019, about the new order.


✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.1976 Sell 5.2028
GB£Gh¢ Buy 6.8562 Sell 6.8651
CAD$Gh¢ Buy 3.9060 Sell 3.9100
JP¥Gh¢ Buy 0.0465 Sell 0.0465
ZARGh¢ Buy 0.3651 Sell 0.3655
EU€Gh¢ Buy 5.8851 Sell 5.8898
CHN¥Gh¢ Buy 0.7743 Sell 0.7746
Gh¢CFA Buy 111.37 Sell 111.46
Gh¢NG₦ Buy 58.85 Sell 58.91
BITCOIN Trading Price $3,693.39 ▼$-91.30 ▼-2.41%
ETHEREUM Trading Price $124.83 ▼$-5.57 ▼-4.27%
RIPPLE Trading Price $0.30 ▼$-0.01 ▼-2.59%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
EGH +10.24% ➡️Gh¢7.75
GCB +7.12% ➡️Gh¢3.76
EGL +0.92% ➡️Gh¢2.20

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
SOGEGH -8.16% ➡️Gh¢0.90
MTNGH -1.35% ➡️Gh¢0.73


〽️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 +20.00% ➡️Gh¢0.90
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
ACCESS +7.04% ➡️Gh¢3.80

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
RBGH -20.29% ➡️Gh¢0.55
GCB -18.26% ➡️Gh¢3.76
CMLT -10.00% ➡️Gh¢0.09
MTNGH -7.59% ➡️Gh¢0.73
GOIL -7.05% ➡️Gh¢2.90

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,819.65 -206.6 -0.79%
*S&P 500 🏦 2,792.81 -10.88 -0.39%
*Nasdaq Index📲💻  7,595.35 +62.82 +0.83%
* NYSE Composite Index 12,637.27 -63.40 -0.50%
*London FTSE 100 7,134.39 +27.66 +0.39%
*Germany DAX 11,592.66 -9.02 -0.08%
*Japan NIKKEI 225 21,822.04 +219.35 +1.02%
*Hong Kong HANG SENG  28,959.59 +147.42 +0.51%
* Shanghai Shenzhen 300 3,794.10 +44.39 +1.18%
*S&P/ASX 200 Index 6,217.41 +24.68 +0.40%
*Bloomsberg EU 500 252.24 +0.43 +0.17%
*FTSE/JSE South Africa Top40 49,895.02 +53.75 +0.11%
*Nairobi SE 20 Share 2,912.70 -3.49 -0.12%
*Nigeria SE Main-Board Index 32,129.94 +302.70 +0.95%
*GSE Composite Index 2494.27 in 12.17 (+0.49%)
*GSE Financial Index 2136.81 
46.71 (+2.23%)


💧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⛽ $65.55 +0.48 +0.74%
*Natural Gas 🏭 $/million BTUS $2.86 0.00 -0.07%
*Gold 👑 $/troy ounce $1,287.50 -11.70 -0.90%
*Silver 💍 $/troy ounce $15.11 -0.15 -0.99%
*Corn 🌽 $/bushel $374.75 +1.75 +0.47%
*Cocoa 🍫 $/metric ton  $2,156.00 -61.00 -2.75%
*Coffee ☕ ¢/pound  $97.35 -2.85 -2.84%
*Sugar🎂 ¢/pound $12.36 -0.26 -2.06%

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

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