Home Business BUSINESS NEWS | GHANA AND BEYOND 🌍 24/07/2019

BUSINESS NEWS | GHANA AND BEYOND 🌍 24/07/2019

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🚩 The Securities and Exchange Commission (SEC) is undertaking a forensic audit of about 21 investment firms and fund managers in the country. The audit is to allow the regulator to have a fair idea of the financial positions of these firms as well as their ability to stay in business. Deputy Director at the Commission, Paul Ababio, in an interview with Joy Business, hinted that SEC will take an action on the firms after the process which will include revocation of license.

🚩 The Tema Oil Refinery (TOR) made a net loss of GH¢186.35 million in the first four months of 2019, according to the refinery’s (TOR) 2019 Variance Report. The huge loss, according to the 2019 Variance Report for the period ended April 30, 2019, was against a budgeted loss of GH¢71.70 million.
THE 14-page internal report, which was completed and submitted in June, a soft copy of which is on the shelf of The Chronicle, presented an analysis of the financial performance and situation of the company from January to April 2019. It includes commentary on the liquidity situation and an update on the legacy debts and payments being made by ESLA Plc, which has given some life to the facility.

🚩 The two funds of STANLIB Ghana Limited; the STANLIB Income Fund Trust (SIFT) and the STANLIB Cash Trust (SCT) have both recorded positive returns, surpassing their benchmark for 2018. The SIFT churned out 17.5 percent of returns against a benchmark of 15.6 per ent, with assets also growing to GH¢147 million, which represented an 86 percent increase compared to GH¢78 million in 2017. The SCT also returned 16.1 percent, which represented a 250 basis points above the benchmark of 13.6 percent.

🚩 GT Bank has partnered with RIA money transfer and Zeepay to launch a financial platform that will enable Ria Money Transfer (Ria) customers worldwide to send money directly into beneficiaries’ mobile money wallets in Ghana. Dubbed ‘Ria2Mobile’, the platform would also allow customers of GT Bank to receive remittances straight into their accounts. Speaking at the launch in Accra, the General Manager and Divisional Head for General Internal Services, GTBank, Ms Iris Richter-Addo, said the platform would offer beneficiaries the convenience and security of receiving remitted funds directly into their mobile money wallets at any location in the country.

🚩 The Koforidua Branch of the Social Security and National Insurance Trust (SSNIT) has recovered a total of Gh¢ 5.1 million as arrears from employers who had not paid contributions for their workers since January this year . The exercise, formed part of a massive inspection and compliance campaign aimed at expanding coverage of the SSNIT scheme nationwide as well as to ensure that employers complied with the law by paying regular contributions on behalf of their workers.

🚩 President Nana Addo Dankwa Akufo-Addo, on Tuesday, commissioned the Operational Office Complex of Ghana National Gas Company. The office complex is expected to deliver first-class gas operations and support services for the country’s gas sector, whilst, at the same time, accommodating staff of the company who work to ensure reliable and sustainable gas supply for power generation.

🚩 Ghana presented its first Voluntary National Review (VNR) report on the implementation of the 2030 Agenda for Sustainable Development at the 2019 High-Level Political Forum (HLPF) at the United Nations (UN) on 17 July. The HLPF is part of the follow-up and review arrangement for the 2030 Agenda, and provides a platform for reviewing the progress of implementation of the Sustainable Development Goals (SDGs), mutual learning, and forging of partnerships to accelerate the implementation of the SDGs.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2539 Sell 5.2591
GB£Gh¢ Buy 6.5432 Sell 6.5518
CAD$Gh¢ Buy 3.9971 Sell 4.0011
JP¥Gh¢ Buy 0.0486 Sell 0.0486
ZARGh¢ Buy 0.3782 Sell 0.3787
EU€Gh¢ Buy 5.8631 Sell 5.8681
CHN¥Gh¢ Buy 0.7640 Sell 0.7650
Gh¢CFA Buy 111.78 Sell 111.88
Gh¢NG₦ Buy 58.23 Sell 58.29
BITCOIN Trading Price $9,664.23 ▼$-497.73 ▼-4.90%
ETHEREUM Trading Price $204.72 ▼$-9.50 ▼4.44%
RIPPLE Trading Price $0.30 ▼ $-0.01 ▼-3.41%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
MTNGH +1.41% ➡️Gh¢0.72

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
IIL -16.67% ➡️Gh¢0.05
ACCESS -10.18% ➡️Gh¢3.00
EGL -2.38% ➡️Gh¢2.05

〽️Inflation rate in Ghana ➡️ 9.10% (-3.19%)

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

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 14.2032% Interest Rate 14.7261%
182 – Day Discount Rate 14.1042% Interest Rate 15.1744%
364 – Day Discount Rate 15.1668% Interest Rate 17.8784%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 19.7500%
3 Year Bond Interest Rate 19.7000%
5 Year Bond Interest Rate 19.5000%
6 Year Bond Interest Rate 21.0000%
10 Year Bond Interest Rate 19.8000%

🐂GHANA GOV’T EUROBOND RATES 🏦
7 Year Bond Coupon Rate 7.8750%
12 Year Bond Coupon Rate 8.1250%
31 Year Bond Coupon Rate 8.9500%

🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
SPL +50.00% ➡️Gh¢0.03
TOTAL +17.65% ➡️Gh¢4.00
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
GCB +7.61% ➡️Gh¢4.95

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
TBL -47.83% ➡️Gh¢0.12
FML -44.00% ➡️Gh¢4.48
SIC -42.11% ➡️Gh¢0.11
IIL -37.50% ➡️Gh¢0.05
BOPP -37.13% ➡️Gh¢3.20

🛢Average Petrol & Diesel Price Per Litre – Gh¢5.19 (-1.14%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 27,349.19 +177.29
*S&P 500 🏦 3,005.47 +20.44
*Nasdaq Index📲💻 8,251.40 +47.26
* NYSE Composite Index 13,197.52 +87.75
*London FTSE 100 7,556.86 +41.93
*Germany DAX 12,490.74 +201.34
*Japan NIKKEI 225 21,696.41 +75.53
*Hong Kong HANG SENG 28,657.32 +190.84
* Shanghai Shenzhen 300 3,822.76 +32.85
*S&P/ASX 200 Index 6,769.30 +44.67
*Bloomsberg EU 500 261.99 +2.45
*FTSE/JSE South Africa Top40 52,209.63 +319.05
*Nairobi SE 20 Share 2,675.31 -23.33
*Nigeria SE Main-Board Index 28,144.87 +336.18
*GSE Composite Index 2346.41 5.47 (+0.23%)
*GSE Financial Index 2035.17 -12.68 (-0.62%)

💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔼+0.76%
Dalex Vision 🔼+9.33%
EPAcK 🔼+0.47%
HeritageFund 🔻-1.86%
Legacy Trust 🔼+2.40%
NTHC Horizon 🔻-0.49%
SAS Fortune 🔻-1.86%
Republic Equity 🔼+0.82%
SEM All-Africa 🔼+5.79%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+4.98%
CCMF 🔼+5.42%
CDH Balanced 🔼+8.70%
CM Fund 🔼+10.64%
EDC Balanced 🔼+1.38%
EdiFund T2 🔼+5.16%
UMB Balanced 🔼+8.75%
Republic F Plan 🔼+4.61%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+17.82%
FirstFund 🔼+15.48%
Republic Unit 🔼+11.44%
SEM MoneyPlus 🔼+12.90%
TTL IncomeHaven 🔼+16.19%

⚙FIXED INCOME FUNDS 🛡YTD%
EdiFund T1 🔼+7.06%
Gold Money 🔼+7.50%
Mfund 🔼+8.02%
Omega Income 🔼+7.99%
SEM Income 🔼+6.11%
SikaFund 🔼+7.91%
STANLIB Income 🔼+9.27%
SiriusOpportunity 🔼+7.63%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $64.00 +0.17
*Natural Gas 🏭 $/million BTUS $2.29 -0.01
*Gold 👑 $/troy ounce $1,419.10 -2.60
*Silver 💍 $/troy ounce $16.45 -0.02
*Corn 🌽 $/bushel $431.25 -0.25
*Cocoa 🍫 $/metric ton $2,475.00 -57.00
*Coffee ☕ ¢/pound $102.30 -2.80
*Sugar🎂 ¢/pound $11.98 +0.42

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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