Home Latest News Business BUSINESS NEWS | GHANA AND BEYOND 🌍 25/07/2019

BUSINESS NEWS | GHANA AND BEYOND 🌍 25/07/2019

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🚩 Ghana through the Ministry of Energy and its partner Ghana Gas, is set to sign a Memorandum of Understanding (MOU) with the government of Côte d’Ivoire to facilitate the bidirectional transportation of gas between the two countries. This will be achieved after the completion of the 20 inch 52 kilometre pipeline from Atuabo to Côte d’Ivoire. The President, Nana Addo Dankwa Akufo-Addo made this known when he commissioned a state-of-the-art Operational Office Complex for the Ghana National Gas Company at A B Bokazo in the Ellembelle District of the Western Region.

🚩 The Social Security and National Insurance Trust (SSNIT) has recovered more than GH¢378 million in less than three years from prosecutions made on employers and organisations after a forensic audit of their books revealed they have defaulted in paying monthly contributions of their workers for some years now. A breakdown of data shows that, in 2017, SSNIT recovered GH¢111.1 million from 17,320 cases initiated against employers and organisations; recovered GH¢158.7 million in 2018 from 19,914 cases initiated; and again has retrieved GH¢108.2 within the first half of this year against a target of GH¢191.4 million, meaning more than 56% of the 2019 target has been achieved.

🚩 Ghana is expected to hit 95 percent of mobile telephone connectivity by next year, 2020, Mr Vincent Sowah Odotei, Deputy Minister of Communications announced on Wednesday. He explained in Parliament that, the Ministry of Communications, through the Ghana Investment Fund for Communications (GIFEC) is in the process of procuring “appropriate and cost-effective” technologies under its Rural Telephony Project, to provide the needed connectivity to all unserved and underserved communities in Ghana.

🚩 Ghana is set to make $12 billions from other tree crops aside Cocoa following the successful implementation of the Planting for Export and Rural Development, the Minister of Food and Agriculture, Hon. Dr Owusu Afriyie Akoto has stated. The Ministry of Food and Agriculture, in collaboration with the Ministry of Local Government and Rural Development, has launched an ambitious programme to diversify the country’s agricultural export capacity to include other tree crops with equal economic values as cocoa.

🚩 The President of the Republic of Ghana, H.E Nana Addo Dankwa Akufo Addo on Tuesday, July 23, 2019, commissioned the Operational Headquarters of the Ghana National Gas Company Limited at A.B Bokazo in the Ellembelle District of the Western Region. The multipurpose complex, christened “Gas Complex” lies within the enclave of the Atuabo Gas Processing Plant in the Ellembele District of the Western Region. Construction of the facility begun in November 2017 and was completed as scheduled in November 2018, by SINOPEC Corporation together with other sub-contractors.

🚩 As part of Fidelity Bank’s ongoing digital transformation to support our aggressive customer-centric drive, Fidelity Bank has introduced Visa-contactless cards and is increasing contactless card enabled POS Terminals in Ghana. Fidelity Bank is the first mover to further entrench its focus on customer convenience. By this action, Fidelity Bank joins an international group of Visa member banks across the Central Europe, Middle East & Africa (CEMEA) region to begin issuing cards and deploying terminals that have contactless capabilities. The contactless cards only require customers to ‘tap and go’ on the acceptance device to execute low value transactions.

🚩 The 2018 full year and 2019 half-year financial statements of the Consolidated Bank Ghana (CBG) Limited should be published by the first week in August. It will follow the completion of the review of the documents by the regulator. The Managing Director of Consolidated Bank Ghana Limited, Daniel Addo who disclosed this assured all stakeholders that the processes for both the full year 2018 results and the first half of this year have almost been completed. The announcement comes almost a year into the operations of the CBG.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2534 Sell 5.2586
GB£Gh¢ Buy 6.5599 Sell 6.5685
CAD$Gh¢ Buy 4.0009 Sell 4.0045
JP¥Gh¢ Buy 0.0486 Sell 0.0487
ZARGh¢ Buy 0.3781 Sell 0.3786
EU€Gh¢ Buy 5.8560 Sell 5.8611
CHN¥Gh¢ Buy 0.7646 Sell 0.7648
Gh¢CFA Buy 111.92 Sell 112.01
Gh¢NG₦ Buy 58.24 Sell 58.30
BITCOIN Trading Price $10,044.92 ▲$376.57 ▲3.89%
ETHEREUM Trading Price $220.77 ▲$15.00 ▲7.81%
RIPPLE Trading Price $0.32 ▲ $0.02 ▲3.69%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
EGL +2.44% ➡️Gh¢2.10
FML +1.56% ➡️Gh¢4.55

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
SCB -5.26% ➡️Gh¢18.00

〽️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 -43.12% ➡️Gh¢4.55
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🚂⛽ 27,269.97 -79.22
*S&P 500 🏦 3,019.56 +14.09
*Nasdaq Index📲💻 8,321.50 +70.10
* NYSE Composite Index 13,234.93 +37.41
*London FTSE 100 7,501.46 -55.40
*Germany DAX 12,522.89 +32.15
*Japan NIKKEI 225 21,781.02 +71.45
*Hong Kong HANG SENG 28,623.82 +99.78
* Shanghai Shenzhen 300 3,836.81 +16.98
*S&P/ASX 200 Index 6,808.90 +32.22
*Bloomsberg EU 500 262.28 +0.29
*FTSE/JSE South Africa Top40 51,626.64 -582.99
*Nairobi SE 20 Share 2,681.17 +5.86
*Nigeria SE Main-Board Index 28,088.74 -56.13
*GSE Composite Index 2334.73 -11.68 (-0.50%)
*GSE Financial Index 2011.49 -23.68 (-1.16%)

💧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⛽ $63.32 +0.14
*Natural Gas 🏭 $/million BTUS $2.23 +0.01
*Gold 👑 $/troy ounce $1,421.90 -1.70
*Silver 💍 $/troy ounce $16.51 -0.12
*Corn 🌽 $/bushel $430.50 -0.25
*Cocoa 🍫 $/metric ton $2,463.00 -12.00
*Coffee ☕ ¢/pound $101.00 -1.30
*Sugar🎂 ¢/pound $12.06 +0.08

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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