BUSINESS NEWS | GHANA AND BEYOND 🌍 14/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 14/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 14/03/2019
🚩 The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to 9.0% recorded in January 2019, a Ghana Statistical Service (GSS) report has indicated. According to the GSS, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. Acting Deputy Government Statistician, David YenukwaKombat, made this known to the media on yesterday in Accra. He indicated that the year-on-year non-food inflation rate for February 2019 was 9.7% compared with the rate of 9.5% recorded in January 2019.

🚩 The Northern Electricity Distribution Company (NEDco) says it is raising over $200 million in the form of grants and concessionary loans to improve on its operations. This follows the inability of the company to access a $54-million grant from the Millennium Challenge Corporation (MCC) of then United States to build its delivery capacity for efficient power supply.

🚩 The Ghana Commodity Exchange and Barclays Ghana, a member of the Absa family, signed a Memorandum of Understanding to cooperate with each other in building a framework for the settlement of trades as well as the provision of financial services to exchange actors. As part of this MOU, Barclays Ghana, the biggest lender to the Agriculture Sector in 2018, has agreed to collaborate with GCX in the Warehouse Receipt Financing Programme and be a Settlement Bank to Exchange Members.

🚩 Stakeholders in the Ghana Maritime Authority are calling for the development of a comprehensive Maritime Transport Policy as soon as possible.
According to them, such a policy will streamline activities in the maritime sector—enhancing its contribution to trade. The comments were made at the opening ceremony of the National Maritime Transport Policy Workshop held here in Accra.

🚩 The Finance Minister, Ken Ofori-Atta, has assured that the cedi will stabilise in the next few weeks.
Speaking to Journalists outside Parliament House Wednesday, March 13, 2019, Mr. Ofori-Atta said government is expecting large inflows of foreign exchange which will help turn around the value of the cedi which has hit a record low of 5.6 to a dollar. Critics have blamed government’s policies for the weakening of the cedi against the U.S. Dollar and other major currencies – a stance Vice President Dr Bawumia Bawumia rejected.

🚩 MTN Group Ltd plans to push ahead with an initial public offering of its Nigeria unit in April or May once Africa’s biggest wireless carrier resolves a $2 billion tax dispute in the country. When the tax matter has been settled, “the board can assign a value to the company and we do an IPO,” spokesman Tobe Okigbo told reporters in Lagos on Wednesday. “It is difficult to put a value on it when there is such an issue.”

🚩 The Management of Ethiopian Airlines in Ghana has commended government and Ghanaians for the support it has received during a period of pain. Genet Michael, the General Manager of the airline in Ghana said she appreciates the warmth and empathy the Airline has received from Ghanaians who have supported them over the years. "I have felt the traditional Ghanaian hospitality and love a lot during this moment of grief. I am really grateful to the good people of Ghana.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2374 Sell 5.2426
GB£Gh¢ Buy 6.9034 Sell 6.9124
CAD$Gh¢ Buy 3.9316 Sell 3.9355
JP¥Gh¢ Buy 0.0470 Sell 0.0471
ZARGh¢ Buy 0.3633 Sell 0.3637
EU€Gh¢ Buy 5.9216 Sell 5.9262
CHN¥Gh¢ Buy 0.7805 Sell 0.7813
Gh¢CFA Buy 110.69 Sell 110.77
Gh¢NG₦ Buy 58.42 Sell 58.48
BITCOIN Trading Price $3,853.85 ▲$3.96 ▲0.10%
ETHEREUM Trading Price $131.48 ▲$0.28 ▲0.21%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.31%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
GCB +2.63% ➡️Gh¢3.90

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GOIL -1.74% ➡️Gh¢2.83
EGH -1.55% ➡️Gh¢7.63


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

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

¶ TREASURY BILLS RATE💸
91 - Day Discount Rate 14.1855% Interest Rate 14.7071%
182 - Day Discount Rate 14.0810% Interest Rate 15.1474%
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 +32.94% ➡️Gh¢4.52
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
SIC -15.79% ➡️Gh¢0.16
GCB -15.22% ➡️Gh¢3.90
MTNGH -10.13% ➡️Gh¢0.71
GOIL -9.29% ➡️Gh¢2.83

🛢Average Petrol & Diesel Price Per Litre - Gh¢5.18 (+4.96%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,702.89 +148.23 +0.58%
*S&P 500 🏦 2,810.92 +19.40 +0.69%
*Nasdaq Index📲💻  7,643.41 +52.38 +0.69%
* NYSE Composite Index 12,674.26 +91.45 +0.73%
*London FTSE 100 7,159.19 +8.04 +0.11%
*Germany DAX 11,572.41 +48.24 +0.42%
*Japan NIKKEI 225 21,331.47 +41.23 +0.19%
*Hong Kong HANG SENG  28,771.72 -35.73 -0.12%
* Shanghai Shenzhen 300 3,693.80 -30.39 -0.82%
*S&P/ASX 200 Index 6,179.60 +18.42 +0.30%
*Bloomsberg EU 500 252.54 +1.66 +0.66%
*FTSE/JSE South Africa Top40 49,584.85 +116.42 +0.24%
*Nairobi SE 20 Share 2,875.98 -9.95 -0.34%
*Nigeria SE Main-Board Index 31,360.28 +46.92 +0.15%
*GSE Composite Index 5.2400 0.0000 (0.00%)
*GSE Financial Index 5.9239 -0.0144 (-0.24%)


💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
SEM All-Africa 🔼+9.92%
Republic Equity 🔼+1.68%
Omega Equity 🔼+3.50%
Legacy Trust 🔼+1.02%
EPAcK 🔼+4.77%
Dalex Vision 🔼+2.58%
Anidaso Fund 🔼+0.06%
HeritageFund 🔻-1.25%

⚖BALANCED FUNDS ⏸YTD%
MyWealth Trust 🔼+1.43%
UMB Balanced 🔼+2.42%
Republic F Plan 🔼+1.79%
Kiddifund 🔼+0.73%
EdiFund T2 🔼+2.95%
EDC Balanced 🔼+0.66%
CM Fund 🔼+3.49%
CDH Balanced 🔼+2.29%
Bfund 🔼+2.21%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+20.83%
FirstFund 🔼+16.34%
Republic Unit 🔼+10.89%
TTL IncomeHaven 🔼+19.02%
SEM MoneyPlus 🔼+14.92%


⚙FIXED INCOME FUNDS 🛡YTD%
STANLIB Income 🔼+3.05%
SikaFund 🔼+1.60%
Omega Income 🔼+2.33%
EdiFund T1 🔼+2.45%
Mfund 🔼+2.14%
NGIS Mfund +1.36%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $67.81 +0.26 +0.38%
*Natural Gas 🏭 $/million BTUS $2.83 +0.01 +0.50%
*Gold 👑 $/troy ounce $1,303.50 -5.80 -0.44%
*Silver 💍 $/troy ounce $15.38 -0.08-0.49%
*Corn 🌽 $/bushel $368.00 +1.50 +0.41%
*Cocoa 🍫 $/metric ton  $2,216.00 -1.00 -0.05%
*Coffee ☕ ¢/pound  $97.65 +1.65 +1.72%
*Sugar🎂 ¢/pound $12.36 +0.03 +0.24%

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

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