BUSINESS NEWS | GHANA AND BEYOND 🌍 22/03/2019
 
 

BUSINESS NEWS | GHANA AND BEYOND 🌍 22/03/2019

  • Mar 26, 2019
  • g/Business
  • Aiphay
BUSINESS NEWS | GHANA AND BEYOND 🌍 22/03/2019
🚩 Scientists and other experts in agriculture are meeting in Accra to find means of using technology (innovation platforms) to find a lasting solution to Fall Army worms and boost agriculture productivity in Africa. The gathering of the scientists, agriculturists, crop and livestock farmers and researchers, comes on the back of the destruction of farms by the Fall army worms that cost the Ghanaian economy an estimated $64 million and the entire Africa $13 billion between 2016-2018, according to figures from the Ministry of Food and Agriculture and the USAID Bureau for Food Security.

🚩 Ministry of Food and Agriculture says it is looking to cut down imports of rice by 50 per cent as well as end the importation of tomato this year.
Deputy Minister for the Ministry of Food and Agriculture, George Oduro said the government is working to cut the levels of food import significantly. According to him, efforts to expand irrigation projects, the introduction of mechanization are among the efforts to help boost production.

🚩 Parliament on Thursday passed the Payment Systems and Settlement bill into law.
The bill is expected to significantly trigger the growth of electronic payments in Ghana. The purpose of this law is to amend and consolidate laws and guidelines relating to payment systems, electronic money operations and to regulate institutions which issue electronic money and provide payment services.

🚩 STATE-Owned Enterprises (SOEs) will soon be expected to pay 15 per cent of their gross profit to the government as dividend, the Executive Chairman of the State Enterprises Commission (SEC), Mr Stephen Asamoah Boateng, has hinted. The departure from the old regime where dividends are paid on net profit will come into force after the State Interest and Governance Authority Bill, which is presently before Parliament, has been passed into law.

🚩 BEEKEEPING has been recognised as an enterprise that can provide employment, income and economic security for farmers in rural areas with little startup investments. Naturally, bees usually look after themselves, with little need for tendering and they provide a number of products such as honey, wax, pollen, royal jelly, among others, which are well known in many local markets. Even though it is a lucrative trade with the use of simple management techniques, prospective bee keepers need to consider local culture and economy for it to be successful, and as an enterprise that fits in very well with small scale farmers’ livelihoods.


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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.1565 Sell 5.1617
GB£Gh¢ Buy 6.7576 Sell 6.7654
CAD$Gh¢ Buy 3.8586 Sell 3.8620
JP¥Gh¢ Buy 0.0465 Sell 0.0465
ZARGh¢ Buy 0.3622 Sell 0.3626
EU€Gh¢ Buy 5.8644 Sell 5.8687
CHN¥Gh¢ Buy 0.7692 Sell 0.7700
Gh¢CFA Buy 111.77 Sell 111.85
Gh¢NG₦ Buy 59.33 Sell 59.39
BITCOIN Trading Price $3,979.88 ▼$-27.10 ▼-1.24%
ETHEREUM Trading Price $135.26 ▼$-2.54 ▼-1.84%
RIPPLE Trading Price $0.31 ▼$-0.01 ▼-0.89%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
TBL +13.04% ➡️Gh¢0.26
ETI +6.67% ➡️Gh¢0.16
CAL +1.96% ➡️Gh¢1.04
EGL +0.48% ➡️Gh¢2.11
EGH +0.39% ➡️Gh¢7.73

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
TOTAL -9.80% ➡️Gh¢4.60


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

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

¶ TREASURY BILLS RATE💸
91 - Day Discount Rate 14.1929% Interest Rate 14.7150%
182 - Day Discount Rate 14.0833% Interest Rate 15.1501%
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 8.7500%
12 Year Bond Coupon Rate 8.1250%
31 Year Bond Coupon Rate 8.9500%


🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +35.29% ➡️Gh¢4.60
SOGEGH +20.00% ➡️Gh¢0.90
AYRTN +14.29% ➡️Gh¢0.08
TBL +13.04% ➡️Gh¢0.26
ACCESS +12.68% ➡️Gh¢4.00

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
RBGH -20.29% ➡️Gh¢0.55
BOPP -18.66% ➡️Gh¢4.14
GOIL -18.59% ➡️Gh¢2.54
SIC -15.79% ➡️Gh¢0.16
GCB -13.04% ➡️Gh¢4.00

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,962.51 +216.84 +0.84%
*S&P 500 🏦 2,854.88 +30.65 +1.09%
*Nasdaq Index📲💻  7,838.96 +109.99 +1.42%
* NYSE Composite Index 12,782.54 +82.29 +0.65%
*London FTSE 100 7,355.31 +64.30 +0.88%
*Germany DAX 11,549.96 -53.93 -0.46%
*Japan NIKKEI 225 21,608.92 +42.07 +0.20%
*Hong Kong HANG SENG  29,071.56 -249.41 -0.85%
* Shanghai Shenzhen 300 3,836.89 +1.45 +0.04%
*S&P/ASX 200 Index 6,167.17 +1.82 +0.03%
*Bloomsberg EU 500 256.08 -0.34 -0.13%
*FTSE/JSE South Africa Top40 49,827.56 -647.55 -1.28%
*Nairobi SE 20 Share 2,855.63 -16.32 -0.57%
*Nigeria SE Main-Board Index 30,885.31 -155.53-0.50%
*GSE Composite Index 2435.94 1.69 (+0.07%)
*GSE Financial Index 2127.33 13.88 (+0.66%)


💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
SEM All-Africa 🔼+12.33%
Republic Equity 🔼+1.82%
Omega Equity 🔼+4.13%
HeritageFund 🔻-1.19%
Legacy Trust 🔼+3.11%
EPAcK 🔼+4.99%
Dalex Vision 🔼+2.97%
Anidaso Fund 🔼+1.61%
NTHC Horizon 🔼+0.96%

⚖BALANCED FUNDS ⏸YTD%
UMB Balanced 🔼+2.42%
Republic F Plan 🔼+1.91%
MyWealth Trust 🔼+2.64%
Kiddifund 🔼+0.73%
EdiFund T2 🔼+3.26%
EDC Balanced 🔼+0.66%
CM Fund 🔼+4.88%
CDH Balanced 🔼+3.19%
Bfund 🔼+2.37%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+20.83%
FirstFund 🔼+16.22%
Galaxy Mfund 🔼+9.39%
Republic Unit 🔼+10.88%
SEM MoneyPlus 🔼+14.46%
TTL IncomeHaven 🔼+19.02%

⚙FIXED INCOME FUNDS 🛡YTD%
 STANLIB Income 🔼+3.36%
SiriusOpportunity 🔼+2.87%
Omega Income 🔼+3.25%
SEM Income 🔼+2.19%
Mfund 🔼+2.75%
EdiFund T1 🔼+2.70%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $67.70 -0.80 -1.17%
*Natural Gas 🏭 $/million BTUS $2.82 +0.00 +0.04%
*Gold 👑 $/troy ounce $1,307.30 +5.60 +0.43%
*Silver 💍 $/troy ounce $15.44 +0.12 +0.78%
*Corn 🌽 $/bushel $376.25 +4.75 +1.28%
*Cocoa 🍫 $/metric ton  $2,132.00 -11.00 -0.51%
*Coffee ☕ ¢/pound  $94.80 +0.05 +0.05%
*Sugar🎂 ¢/pound $12.50 -0.24 -1.88%

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

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