Home Business BUSINESS NEWS | GHANA AND BEYOND ???? 13/03/2019

BUSINESS NEWS | GHANA AND BEYOND ???? 13/03/2019

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???? Telecommunications Company Vodafone is preparing to roll out its 4G services on 19th March, 2019 after securing the spectrum for $30 million last year. Vodafone will be the second telecommunications company to operate on the 4G spectrum after MTN which secured the LTE license in 2015 at $67.5 million. Citi Business News has gathered that Vodafone is at the final stages of its integration processes to commence operations on the 4G spectrum.

???? Ghana will meet investors later this week to gauge appetite for its proposed sale of as much as $3 billion in Eurobonds, according to two people familiar with the matter. Officials will organize meetings in Boston, New York and London from Wednesday, said the people, who asked not to be identified because they’re not authorized to speak publicly about the matter. If the feedback is favourable it may lead to an immediate issuance, but the ministry will return at a later date if price demands are too high, the people said.

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???? Absa Group Limited, one of Africa’s largest financial services providers, reported an increase in revenue and earnings for 2018, a year of almost unprecedented corporate activity as the group repositioned itself for delivery against a new growth strategy as an independent African bank. Normalised headline earnings increased 3% to R16.1 billion compared with 2017 and revenue increased 4% to R75.7 billion.

???? 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. The two institutions also agreed to collaborate to build the capacity of farmers in the country.

???? The Bank of Ghana says it is confident the Payment Systems and Services Bill which is before parliament will be passed in June. The bill when passed will enable non-banks offering financial services have a regulatory environment to better operate in while minimizing related threats. With more players in the financial space, competition is rife requiring the central bank’s keen eye on the space to ensure sanity prevails; Head of Payments at the Bank of Ghana, Dr. Settor Amediku mentioned.

???? Government in collaboration with the African Development Bank and the Rural Enterprise Programme will establish four new modern shea butter processing facilities in the country before the year 2019 ends. This was disclosed by the Ministry of Trade and Industry. The initiative will fall under government’s one district, one factory programme.
According to a study by LMC International, shea exports have increased from fifty thousand metric tons to more than 350 thousand metric tons annually over the last 20 years.

???? Vice President, Dr. Mahamudu Bawumia on Monday announced 10 measures introduced by government agencies, over the past nine months, to improve the country’s ease of doing business. Vice President Bawumia announced the measures in Accra at a Stakeholders’ Update on Reforms by the Government to Ease Doing Business in Ghana.
The workshop was to engage and create awareness within the private sector, which is ultimately the beneficiary of the ambitious reforms introduced by the Government.

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✴INTERBANK FOREX RATES ????????
US$Gh¢ Buy 5.2374 Sell 5.2426
GB£Gh¢ Buy 6.8783 Sell 6.8872
CAD$Gh¢ Buy 3.9152 Sell 3.9192
JP¥Gh¢ Buy 0.0471 Sell 0.0472
ZARGh¢ Buy 0.3670 Sell 0.3675
EU€Gh¢ Buy 5.9071 Sell 5.9118
CHN¥Gh¢ Buy 0.7807 Sell 0.7813
Gh¢CFA Buy 110.96 Sell 111.04
Gh¢NG₦ Buy 58.42 Sell 58.48
BITCOIN Trading Price $3,860.57 ▲$42.82 ▲1.12%
ETHEREUM Trading Price $131.81 ▲$2.02 ▲1.55%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.98%

????GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today

????GSE DAILY LOSERS➖%CHANGE➖PRICE
MTNGH -1.39% ➡️Gh¢0.71
GCB -0.26% ➡️Gh¢3.80

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

✳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
GCB -17.39% ➡️Gh¢3.80
SIC -15.79% ➡️Gh¢0.16
MTNGH -10.13% ➡️Gh¢0.71
GOIL -7.69% ➡️Gh¢2.88

????Average Petrol & Diesel Price Per Litre – Gh¢5.18 (+4.96%)

???? MARKET INDEXES
*Dow Jones Index????⛽ 25,554.66 -96.22 -0.38%
*S&P 500 ???? 2,791.52 +8.22 +0.30%
*Nasdaq Index???????? 7,591.03 +32.97 +0.44%
* NYSE Composite Index 12,582.81 +21.55 +0.17%
*London FTSE 100 7,151.15 +20.53 +0.29%
*Germany DAX 11,524.17 -19.31 -0.17%
*Japan NIKKEI 225 21,238.84 -264.85 -1.23%
*Hong Kong HANG SENG 28,740.27 -180.60 -0.62%
* Shanghai Shenzhen 300 3,717.91 -37.44 -1.00%
*S&P/ASX 200 Index 6,161.20 -13.62 -0.22%
*Bloomsberg EU 500 250.88 -0.22 -0.09%
*FTSE/JSE South Africa Top40 49,468.43 +81.12 +0.16%
*Nairobi SE 20 Share 2,885.93 -7.25 -0.25%
*Nigeria SE Main-Board Index 31,313.36 -323.30 -1.02%
*GSE Composite Index 2465.74 -12.50 (-0.50%)
*GSE Financial Index 2132.02 -0.51 (-0.02%)

????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⛽ $66.89 +0.22 +0.33%
*Natural Gas ???? $/million BTUS $2.79 +0.01 +0.29%
*Gold ???? $/troy ounce $1,304.50 +6.40 +0.49%
*Silver ???? $/troy ounce $15.45 +0.04 +0.24%
*Corn ???? $/bushel $365.75 0.00 0.00%
*Cocoa ???? $/metric ton $2,217.00 +15.00 +0.68%
*Coffee ☕ ¢/pound $96.00 -1.20 -1.23%
*Sugar???? ¢/pound $12.33 +0.04 +0.33%

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

Compiled By:
Prince Henry Danquah
Bora Capital Advisors Ltd.
+233(0)50-002-3155

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