Home Business Business news, Ghana and Beyond 27/06/2019

Business news, Ghana and Beyond 27/06/2019

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🚩 ESLA Plc, has bought back a portion of the bonds issued under the Gh¢10 billion programme to refinance Ghana’s energy sector legacy debts from the holders of the bonds due to mature in 2024 and 2027. According to an announcement made by the company, last Friday, the buy-back will be funded using proceeds held in the state owned, special purpose vehicle’s LockBox Account for settlement on Tuesday, June 25, 2019 with a minimum buy back target of Gh¢200 million. From the 2018 financial statement of the Company did a similar buy-back arrangement to the tune of Gh¢203.03 million.

🚩 In view of the need to expand the access to electricity in the country, the Energy Commission has announced plans to expand the number of mini grid systems that the country has currently. Speaking at the 5th Mini Grid Action Learning Event, the Executive Secretary of the Energy Commission, Alfred Ahenkorah said, “…for the rapid deployment of these mini grids the Commission would increase private sector involvement in partnership with government based on the existing standards.”

🚩 The Asantehene Otumfuo Osei Tutu II has urged the Board and the Management of the newly-established Ghana Integrated Aluminium Development Corporation (GIADEC), to adopt world best practices that would ensure responsible and sustainable mining. Otumfuo made the call when a delegation from GIADEC paid a courtesy call on him at the Manhyia Palace in Kumasi recently. The delegation was led by the Board Chairman Dr. Anthony Oteng-Gyasi, and the Chief Executive Officer of GIADEC, Michael Ansah.

🚩 Barclays Bank Ghana, a member of Absa Group, has held an International Trade Finance Forum for its clients, largely importers and exporters, with a commitment to intensify its trade finance support for businesses in Ghana as it transitions to Absa. According to Barclays, it remains committed to helping Ghanaian traders achieve their financial goals with a robust and broad array of product offering, coupled with extensive experience in the banking industry. The Bank said Absa has lined up superior and exclusive offers and opportunities for customers to grow their business.

🚩 The Ministry of Energy has reviewed its target of ensuring universal electricity coverage from 2020 to 2025. This, the Ministry says, has become necessary even as it implements new measures to enhance energy efficiency in the country, as well as address the remaining challenges in ensuring energy supply to some rural parts of the country. In 1989, Ghana set out a 30 year National Electrification Scheme to achieve universal access to reliable electricity supply between 1990 -2020.

🚩 Ghana is courting the support of Egypt to enable it host the Secretariat of the African Continental Free Trade Area (AfCFTA). Government expressed its desire to house the secretariat of the new continental body in Accra and has since stepped up diplomatic efforts to secure the deal. Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchway, took the diplomatic lobbying to Cairo where she delivered a message from President Akufo-Addo to the Egyptian authorities for backing.

🚩 The Asantehene Otumfuo Osei Tutu II has urged the Board and the Management of the newly-established Ghana Integrated Aluminium Development Corporation (GIADEC), to adopt world best practices that would ensure responsible and sustainable mining. Otumfuo made the call when a delegation from GIADEC paid a courtesy call on him at the Manhyia Palace in Kumasi recently. The delegation was led by the Board Chairman Dr. Anthony Oteng-Gyasi, and the Chief Executive Officer of GIADEC, Michael Ansah.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2574 Sell 5.2626
GB£Gh¢ Buy 6.6648 Sell 6.6740
CAD$Gh¢ Buy 4.0010 Sell 4.0053
JP¥Gh¢ Buy 0.0489 Sell 0.3687
ZARGh¢ Buy 0.3687 Sell 0.3691
EU€Gh¢ Buy 5.9806 Sell 5.9878
CHN¥Gh¢ Buy 0.7647 Sell 0.7653
Gh¢CFA Buy 109.55 Sell 109.68
Gh¢NG₦ Buy 58.19 Sell 58.25
BITCOIN Trading Price $12,432.37 ▼$-255.27 ▼-2.02%
ETHEREUM Trading Price $320.81 ▼$-10.50 ▼-3.17%
RIPPLE Trading Price $0.43 ▲ $-0.03 ▲-7.54%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
EGH +2.30% ➡️Gh¢8.00
CAL +1.00% ➡️Gh¢1.01

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
FML -13.94% ➡️Gh¢5.00
ACCESS -9.09% ➡️Gh¢3.00
GCB -1.40% ➡️Gh¢4.93

〽️Inflation rate in Ghana ➡️ 9.50% (+2.15%)

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

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 14.2453% Interest Rate 14.7714%
182 – Day Discount Rate 14.1492% Interest Rate 15.2264%
364 – Day Discount Rate 15.1988% Interest Rate 17.9228%
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 19.7500%
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 +100.00% ➡️Gh¢0.04
TOTAL +23.53% ➡️Gh¢4.20
AYRTN +14.29% ➡️Gh¢0.08
ALW +12.50% ➡️Gh¢0.09
GCB +7.17% ➡️Gh¢4.93

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
TBL -47.83% ➡️Gh¢0.12
SIC -42.11% ➡️Gh¢0.11
FML -37.50% ➡️Gh¢5.00
ETI -31.25% ➡️Gh¢0.11
BOPP -31.24% ➡️Gh¢3.50

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

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,548.22 -179.32 -0.67%
*S&P 500 🏦 2,917.38 -27.97 -0.95%
*Nasdaq Index📲💻 7,884.72 -120.98 -1.51%
* NYSE Composite Index 12,936.65 -83.33 -0.64%
*London FTSE 100 7,422.43 +5.74 +0.08%
*Germany DAX 12,228.44 -46.13 -0.38%
*Japan NIKKEI 225 21,048.02 -145.79 -0.69%
*Hong Kong HANG SENG 28,189.30 +3.32 +0.01%
* Shanghai Shenzhen 300 3,794.82 -6.49 -0.17%
*S&P/ASX 200 Index 6,648.40 -9.63 -0.14%
*Bloomsberg EU 500 256.70 -0.36 -0.14%
*FTSE/JSE South Africa Top40 52,279.51 -481.45 -0.91%
*Nairobi SE 20 Share 2,649.11 +9.89 +0.37%
*Nigeria SE Main-Board Index 29,668.68 -140.52 -0.47%
*GSE Composite Index 2370.97 -9.94 (-0.42%)
*GSE Financial Index 2039.59 -1.20 (-0.06%)

💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔼+0.79%
EPAcK 🔼+2.04%
Dalex Vision 🔼+7.99%
HeritageFund 🔻-0.84%
NTHC Horizon 🔼+2.83%
SAS Fortune 🔻-1.07%
Republic Equity 🔼+0.67%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+4.12%
CCMF 🔼+5.83%
CDH Balanced 🔼+6.89%
EDC Balanced 🔼+2.60%
Republic F Plan 🔼+3.73%
UMB Balanced 🔼+7.47%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+17.72%
FirstFund 🔼+16.17%
Republic Unit 🔼+11.08%
SEM MoneyPlus 🔼+13.41%
TTL IncomeHaven 🔼+20.04%

⚙FIXED INCOME FUNDS 🛡YTD%
EdiFund T1 🔼+5.81%
Mfund 🔼+6.83%
SEM Income 🔼+5.04%
SiriusOpportunity 🔼+6.37%
STANLIB Income 🔼+7.87%
SikaFund 🔼+7.91%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $66.06 +1.01 +1.55%
*Natural Gas 🏭 $/million BTUS $2.29 -0.01 -0.61%
*Gold 👑 $/troy ounce $1,411.60 -7.10 -0.50%
*Silver 💍 $/troy ounce $15.28 -0.10 -0.67%
*Corn 🌽 $/bushel $454.75 -2.75 -0.60%
*Cocoa 🍫 $/metric ton $2,464.00 -23.00 -0.92%
*Coffee ☕ ¢/pound $107.45 +4.45 +4.32%
*Sugar🎂 ¢/pound $12.57 +0.10 +0.80%

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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