GHmall, Author at GHmall

GHANA AND BEYOND 08102020

🚩The Bank of Ghana has since the turn of the year committed at least US$525 million in its forex forward auctions introduced last year as part of reforms to bring stability to the local currency. Bids submitted during the year amounted to US$1.32bn out of which the central bank accepted US$525 million — which represents about 73 percent of the total targeted amount for the year. The bids submitted were for the 7-day, 15-day, 30-day, and 45 -day tenors as well as the 60-day and 75-day tenors. In total, 1,623 bids were submitted but the BoG accepted only 692 out of the total. The demand for Forex was highest in the month of May, 2020, as a total of 228 bids were submitted.

🚩The Bank of Ghana (BoG) has noted in its Financial Review Report for 2019 that total financial system assets expanded in the period under review. The assets of the financial system increased to GH¢186.11 billion at end-December, 2019 from GH¢168.42 billion at end-December, 2018. The improvement in the asset of the financial system was on the back of expansions in the banking, insurance, and pension sectors. In the securities sector, a ban on guaranteed investment products and resolutions targeted at sanitising the sector, led to a drop in managed funds (excluding pension funds). In the medium-to-long term however, these initiatives together with plans to recapitalise the securities sector are expected to bolster growth.

🚩GhanaWeb , Ghana’s biggest news platform and Tonaton, Ghana’s biggest online marketplace have signed an exclusive cooperative partnership agreement to lead and improve Ghana’s online marketplace with engaging content. This partnership follows nearly two years of commercial cooperation between both companies resulting in a positive synergy that strengthened the customer experience journey of their visitors. GhanaWeb and Tonaton agreed to integrate their content and offering respectively to allow their visitors to orient themselves in specific categories of interest on GhanaWeb to eventually buy and sell items or apply for jobs simultaneously on Tonaton.

🚩Cenpower Generation Company Limited (Cenpower) has committed to switching its primary fuel from light crude oil (LCO) to natural gas and signed a gas supply agreement (GSA) with the Ghana National Petroleum Corporation (GNPC). Gas operations are expected to begin by the end of this week.
Government welcomes this significant milestone and commitment from Cenpower. The GSA is a key part of the proposal put forward by government during negotiations with Cenpower and will deliver substantial cost savings, estimated at US$3 billion over the remaining term of the Cenpower PPA. Furthermore, the says conversion to natural gas will have important environmental benefits, as emissions will be lowered and Ghana’s abundant natural gas resources effectively utilised for the benefit of the Ghanaians and the business community.

🚩Guinness Ghana, a Diageo PLC Group company has appointed Helene Weesie as its new Managing Director (MD) with immediate effect. Helene joins Guinness Ghana with a wealth of international experience within Diageo globally and within the fast-moving consumer goods sector. Her knowledge and expertise cut across sales, marketing and general management; having held a number of roles both within Diageo and outside with peer companies in our sector. Until recently, Helene was the Managing Director of Diageo’s Central Europe Cluster of countries and prior to that she led Serengeti Breweries, Diageo’s Tanzanian brewer. Helene Weesie replaces Gavin Pike who has now been appointed as Managing Director of Diageo South Africa. Helene will also now join the Guinness Ghana Board.

🚩Dalex SWIFT is allowing customers to determine what interest rates they want to earn on their investments from October 5, 2020. Dalex SWIFT is a leading fully digital investment product that provides clients with a credible, convenient, and competitive path to a better life with over 134,000 registered users. Since its inception, SWIFT has given clients a compound interest rate of 15% per annum. From Monday, customers can increase their investment balance to enjoy much higher rates. Clients with an investment balance of between GH¢3,000 and GH¢7,000 will enjoy a rate of 16% per annum compounded. Customers with an investment balance of more than ¢7,000 will enjoy an even higher rate of 17% per annum compounded. All existing customers whose investment deposits already fall within these categories will be automatically upgraded to the new rates.

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Secure your Tomorrow with MY OWN PENSION on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial *170#, select Option 5 (Financial Services) and select Option 4 (Pensions and Investments) to Begin

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You probably don’t want to work forever so it’s very likely that you’ll need an income for you to enjoy your retirement. Get to know all about Pensions and Get insight into the Success Story of My Own Pension in our next Public Forum on 15th October 2020 at 16:00 GMT. Visit www.investingh.info to register for free.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6998 Sell 5.7056
GB£GH¢ Buy 7.3653 Sell 7.3733
AUD$GH¢ Buy 4.0723 Sell 4.0774
CAD$GH¢ Buy 4.2939 Sell 4.2978
JP¥GH¢ Buy 0.0538 Sell 0.0538
ZARGH¢ Buy 0.3420 Sell 0.3423
EU€GH¢ Buy 6.7086 Sell 6.7146
CHN¥GH¢ Buy 0.8396 Sell 0.8403
GH¢CFA Buy 97.6912 Sell 97.7785
GH¢NG₦ Buy 67.4154 Sell 67.6381

CRYPTOCURRENCY MARKET
Bitcoin $10,657.93 🔼1.19%
Ethereum $340.74 🔼0.71%
Ripple $0.248108 🔼2.1%
Polkadot $3.80 🔼1.98%
Bitcoin Cash $222.62 🔼1.91%
Chainlink $8.90 🔼2.06%
Bitcoin SV $162.93 🔼2.75%
Litecoin $46.59 🔼1.41%
Cardano $0.093419 🔼1.48%
Binance Coin $27.87 🔼2.5%
EOS $2.64 🔼1.4%

💵Bloomberg USDGHS Cross Rate – 5.8028 (YTD – ⬆️ +1.61%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
SCB +7.14% ➡Gh¢15.00

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 10.50% (🔻-7.89%)

🏦Ghana Reference Rate ➡ 14.77% (+0.14%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY RATES💸
14 – Day Discount Rate 14.4196% Interest Rate 14.5000%
91 – Day Discount Rate 13.5696% Interest Rate 14.0461%
182 – Day Discount Rate 13.2051% Interest Rate 14.1386%
364 – Day Discount Rate 14.5156% Interest Rate 16.9804%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.5000%
3 Year Bond Interest Rate 19.0000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
7 Year Bond Interest Rate 20.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.77 (🔻-4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
CPC +50.00% ➡Gh¢0.03
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -74.51% ➡Gh¢1.05
UNIL -43.84% ➡Gh¢9.21
GGBL -40.83% ➡Gh¢1.00
GCB -27.45% ➡Gh¢3.70
RBGH -26.79% ➡Gh¢0.41

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 28,303.46 +530.70 +1.91%
*S&P 500 🏦 3,419.45 +58.50 +1.74%
*Nasdaq Index📲💻 11,364.60 +209.99 +1.88%

NYSE Composite Index 13,042.33 +204.45 +1.59%
*London FTSE 100 5,946.25 -3.69 -0.06%
*Germany DAX 12,928.57 +22.55 +0.17%
*Japan NIKKEI 225 23,422.82 -10.91 -0.05%
*Hong Kong HANG SENG 24,242.86 +262.21 +1.09%
*Shanghai Shenzhen 300 4,587.40 -4.40 -0.10%
*S&P/ASX 200 Index 5,946.25 -3.69 -0.06%
*Bloomsberg EU 500 241.54 -0.29 -0.12%
*MOEX Russia Index 2,842.58 -50.41 -1.74%
*FTSE/JSE South Africa Top40 50,412.19 +542.83 +1.09%
*Nairobi SE 20 Share 1,836.09 -6.59 -0.36%
*Nigeria SE Main-Board Index 28,634.35 -275.02 -0.95%
*GSE Composite Index 1,852.62 +12.83 +0.70%
*GSE Financial Index 1700.50 +23.39 +1.39%

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,839.79 🔻-18.49%
*GSE Financial Index 1,700.50 🔻-15.80%

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Get to know all about Pensions and Get insight into the Success Story of My Own Pension in our Public Forum on 15th October 2020 at 16:00 GMT. Visit www.investingh.info to register for free.
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💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-5.01%
EPAcK 🔻-15.66%
Republic Equity 🔻-1.03%
SAS Fortune 🔻-5.00%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+1.86%
CCMF 🔼+12.43%
CDH Balanced 🔻-2.33%
CM Fund 🔼+11.14%
Dalex Vision 🔼+9.99%
EDC Balanced 🔻-3.40%
EdiFund T2 🔼+6.66%
Fidelity Balanced Trust 🔼+6.10%
Plus Balanced Fund 🔼+10.40%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+11.82%
Fixed Income Alpha Plus Fund 🔼+17.12%
Fidelity Fixed Income Trust 🔼+13.69%
NIMED Fixed Income Fund Tier 1 🔼+3.69%
Plus Income Fund 🔼+13.42%
STANLIB Income 🔼+13.49%
Mfund 🔼+13.37%

MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+12.13%
NGIS Mfund 🔼+11.25%
Republic Unit 🔼+7.66%
STANLIB Cash 🔼+12.89%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $42.19 -0.46 -1.08%
*Natural Gas 🏭 $/million BTUS $2.59 +0.07 +2.94%
*Gold 👑 $/troy ounce $1,890.50 -18.30 -0.96%
*Silver 💍 $/troy ounce $23.93 +0.00 +0.02%
*Corn 🌽 $/bushel $389.25 +4.25 +1.10%
*Cocoa 🍫 $/metric ton $2,452.00 +15.00 +0.62%
*Coffee ☕ ¢/pound $109.60 +1.95 +1.81%
*Sugar🎂 ¢/pound $14.14 +0.26 +1.87%

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

GHMALL 27092020

GHANA AND BEYOND 14092020

🚩The Government of Ghana will from Tuesday, September 15, 2020, begin process to rollover maturing debts in the three-year treasury bond category, with the release of an initial pricing guidance through the Ghana Stock Exchange. According to an announcement made by the Bank of Ghana on Friday, September 21, 2020, the Bonds will mature in 2023. Per the government’s debt issuance calendar for September to November 2020, an amount of GH¢1.50 billion is expected to be issued this month. Of the GH¢ 22.73 billion domestic debt securities to be issued during the period, GH¢ 6.80 billion is planned for the month of July. Each bond to be issued shall have a face value of GH¢1, with a minimum subscription of GH¢50,000 and multiples of GH¢1,000 thereafter. The offer will be opened to both local and foreign investors.

🚩President, Nana Addo Dankwa Akufo-Addo , has cut the sod for the commencement of construction of the Wenchi Water Supply Project, at a ceremony at the Jubilee Park in Wenchi. Cutting the sod on Friday, 11th September 2020, on day 2 of 2-day working visit to the Bono Region, President Akufo-Addo noted that Wenchi means a lot to adherents of the Danquah-Dombo-Busia political tradition, as it is the home of Dr. K.A. Busia, Prime Minister of the Progress Party Government of the 2nd Republic. According to President Akufo-Addo, “it was in 2002, under the Government of the 2nd President of the 4th Republic, His Excellency John Agyekum Kufuor, that the existing Wenchi Water Supply System, with funding from the Government and the European Union, was constructed, as part of the Small-Town Water Supply Schemes embarked upon at the time.”

🚩Ghana plans to use part of the proceeds from an initial public offering (IPO) in a gold royalty fund to invest in similar entities. Africa’s biggest gold producer wants to use about 20% of the $500 million it seeks to raise through the IPO later this year to buy stakes in other royalty companies, Finance Minister Ken Ofori-Atta said in an interview. Ghana is “now the continent’s biggest bullion producer,” he said. “We seek just to leverage that and have some of the world’s top gold producers as part of our portfolio.” The country hopes to benefit from a high gold price that’s boosted the stocks of producers such as Barrick Gold and Newmont to multi-year highs. The fund will be structured to pay dividends from income earned from the government’s gold operations and will be listed in London and on the local bourse.

🚩Global mining deal value, suffering from an unanticipated shock from the COVID-19 pandemic, fell by more than US$18 billion year-on-year in the first half of 2020 to $46.6 billion. An expected slump in the global economy, steered by a series of challenges, has kept investors away from long-term financial instruments, resulting in a 12.7% y-o-y fall in the capital raised by mining companies, according to data and analytics company GlobalData. Mining mergers and acquisitions (M&As), despite a decent first quarter owing to deals involving gold, fell by 51.6% during the first half of 2020. Overall, the majority of the impact was evident on the completion rate, as there was a 41.7% y-o-y fall in the completed deal value.

🚩Ivory Coast plans to increase the fixed farmgate price paid to cocoa farmers by more than 21% to 1,000 CFA Francs ($1.84) per kilogram in the 2020/2021 season, sources from the country’s Coffee and Cocoa Council (CCC) said on Thursday. In June 2019 Ivory Coast and Ghana established a price floor of $2,600 per tonne and a Living Income Differential (LID) of $400 per tonne, in order to tackle poverty among farmers. CCC sources confirmed President Ouattara will announce the price increase himself on Oct. 1 in Yamoussoukro. Ghana is expected to announce an equivalent increase in farmgate prices.

🚩British Airways owner, IAG, is cutting more flights over the next three months as it adjusts to the continuing collapse in demand for air travel. IAG, which also runs Aer Lingus and Iberia, said quarantine restrictions meant capacity this autumn would be 60% below 2019 levels. The group said it had seen a “delayed recovery”, and did not expect business to return to 2019 levels until 2023. It is also raising €2.7bn (£2.5bn) from shareholders to help its finances. The company said the money would be used to reduce debt and help it withstand a prolonged downturn in travel. Previously, IAG had forecast a 46% reduction in flights between October and December compared with the same period last year.

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The Investingh team put together a Financial Planning Template to help you plan your budget, retirement, child’s fees, weddings, buying a car, land acquisition etc. Follow this link to download: http://eepurl.com/gb8arv

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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6939 Sell 5.6995
GB£GH¢ Buy 7.2779 Sell 7.2857
AUD$GH¢ Buy 4.1433 Sell 4.1485
CAD$GH¢ Buy 4.3184 Sell 4.3223
JP¥GH¢ Buy 0.0536 Sell 0.0537
ZARGH¢ Buy 0.3404 Sell 0.3407
EU€GH¢ Buy 6.7407 Sell 6.7467
CHN¥GH¢ Buy 0.8333 Sell 0.8338
GH¢CFA Buy 97.2263 Sell 97.3129
GH¢NG₦ Buy 66.7931 Sell 67.0564

CRYPTOCURRENCY MARKET
Bitcoin $10,316.13 🔻-1.15%
Ethereum $361.03 🔻-4.94%
Ripple $0.240442 🔻-2.57%
Polkadot $4.96 🔻-3.16%
Bitcoin Cash $220.30 🔻-3.57%
Chainlink $12.04 🔻-4.08%
Bitcoin SV $162.81 🔻-3.67%
Litecoin $47.79 🔻-5.38%
Cardano $0.094198 🔻-2.95%
Binance Coin $30.42 🔼+11.53%
EOS $2.71 🔻-3.42%

💵Bloomberg USDGHS Cross Rate – 5.7817 (YTD – ⬆️ +1.24%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
GCB +2.78% ➡Gh¢3.70

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 10.50% (🔻-7.89%)

🏦Ghana Reference Rate ➡ 14.77% (+0.14%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY RATES💸
14 – Day Discount Rate 14.4196% Interest Rate 14.5000%
91 – Day Discount Rate 13.5608% Interest Rate 14.0367%
182 – Day Discount Rate 13.1810% Interest Rate 14.1110%
364 – Day Discount Rate 14.4088% Interest Rate 16.8345%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
7 Year Bond Interest Rate 20.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
CPC +50.00% ➡Gh¢0.03
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -74.76% ➡Gh¢1.04
GGBL -40.83% ➡Gh¢1.00
UNIL -37.74% ➡Gh¢10.21
RBGH -28.57% ➡Gh¢0.40
GCB -27.45% ➡Gh¢3.70

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 27,665.64 +131.06 +0.48%
*S&P 500 🏦 3,340.97 +1.78 +0.05%
*Nasdaq Index📲💻 10,853.54 -66.05 -0.60%

NYSE Composite Index 12,773.04 +66.35 +0.52%
*London FTSE 100 6,032.09 +28.77 +0.48%
*Germany DAX 13,202.84 -6.05 -0.05%
*Japan NIKKEI 225 23,406.49 +171.02 +0.74%
*Hong Kong HANG SENG 24,503.31 +189.77 +0.78%
*Shanghai Shenzhen 300 4,627.28 +45.30 +0.99%
*S&P/ASX 200 Index 5,859.42 -49.09 -0.83%
*Bloomsberg EU 500 243.13 +0.27 +0.11%
*MOEX Russia Index 2,910.51 +12.96 +0.45%
*FTSE/JSE South Africa Top40 51,715.12 +183.00 +0.36%
*Nairobi SE 20 Share 1,875.69 +3.85 +0.21%
*Nigeria SE Main-Board Index 25,591.95 +70.98 +0.28%
*GSE Composite Index 1827.80 2.52 +0.14%
*GSE Financial Index 1665.89 4.60 +0.28%

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,827.80 🔻-19.02%
*GSE Financial Index 1,665.89 🔻-17.52%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-5.41%
EPAcK 🔻-18.81%
Republic Equity 🔻-1.90%
SAS Fortune 🔻-5.56%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-0.41%
CM Fund 🔼+9.97%
CCMF 🔼+11.08%
Dalex Vision 🔼+9.32%
Fidelity Balanced Trust 🔼+5.52%
EDC Balanced 🔻-5.57%
EdiFund T2 🔼+4.95%
Republic F Plan 🔼+1.02%
UMB Balanced 🔼+7.12%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+10.91%
Fidelity Fixed Income Trust 🔼+12.62%
Fixed Income Alpha Plus 🔼+15.45%
SEM Income 🔼+11.13%
STANLIB Income 🔼+12.48%

MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+10.83%
Mfund 🔼+12.10%
NGIS Mfund 🔼+9.80%
Republic Unit 🔼+7.29%
SEM MoneyPlus 🔼+9.52%
STANLIB Cash 🔼+12.00%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $39.83 -0.23 -0.57%
*Natural Gas 🏭 $/million BTUS $2.27 -0.05 -2.32%
*Gold 👑 $/troy ounce $1,947.90 -16.40 -0.83%
*Silver 💍 $/troy ounce $26.86 -0.43 -1.59%
*Corn 🌽 $/bushel $368.50 +3.50 +0.96%
*Cocoa 🍫 $/metric ton $2,548.00 +11.00 +0.43%
*Coffee ☕ ¢/pound $132.45 +0.75 +0.57%
*Sugar🎂 ¢/pound $12.60 +0.02
+0.16%

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

GHANA AND BEYOND 28082020

🚩Ghana’s economy is expected to witness a $10 billion boost with government’s plan of exploiting bauxite and aluminum reserves into the Integrated Aluminum Industry. To achieve that objective, the Management of the Ghana Integrated Aluminum Development Corporation (GIADEC), in partnership with the Volta Aluminum Company Limited (VALCO) has deployed a Recovery Plan of retrofitting the VALCO refinery plant to produce at its full capacity of 300,000 tonnes of aluminum per annum. It is also expected to establish three new bauxite mines, and at least two refineries in addition to the existing smelter. The successful implementation of the Recovery Plan is expected to generate 35,000 direct and indirect jobs as well as create a vibrant downstream sector.

🚩Foreign investors operating in Ghana, have in the second quarter of 2020, recorded an average revenue loss of US$75,000, according to the Ghana Investments Promotion Centre (GIPC). The GIPC in a recent survey conducted between April 1-June 12, 2020 showed 51.43 percent of the respondents sampled had been negatively impacted by the coronavirus pandemic. The survey dubbed; “Survey on the Impact of
Coronavirus (COVID-19 ) on Foreign Investors in Ghana” further indicated 51.4 percent of the respondents sampled by Centre had recorded revenue losses in excess of US$100,000. Additionally, the rest of the respondents sampled recorded losses between US$100,000 and less than US$1,000.

🚩Mr Kwabena Okyere Darko-Mensah , the Western Regional Minister on behalf of the government, has cut the sod for the construction of Cassava Processing Factory under the One District One Factory (1D1F) flagship programme for Amenfi Farms at Amenfi Asikumi in the Amenfi East District of the Western Region. Addressing the chiefs and people at the sod-cutting ceremony under strict Coronavirus safety protocols over the weekend, the Western Regional Minister said the initiative was to carefully geared towards creating the rightful and needed business environment for the private sector businesses to thrive. He took the opportunity to disclose that government had planned to establish twenty-six (26) companies to be operated under the One District One Factory policy in the Western Region. He also said so far two factories are in operation under the programme in Shama and Wassa East Districts in the region.

🚩The public can now pay for goods and services through the universal Gh QR code, as some six banks have started deployment. The banks are Ecobank, GCB Bank, Zenith Bank, Bank of Africa, Fidelity Bank and Agriculture Development Bank. The remaining banks are still in the process to enable them begin the rollout. The Vice President, Alhaji Dr. Mahamudu Bawumia launched the universal QR code in March this year. The service adds on to the plethora of electronic payment solutions that the Ghana Interbank Payment and Settlement Systems (GhIPSS) has rolled out over the years.
With the QR code, customers only need to scan the codes displayed at various shops and other outlets with their smart phones to make payment.

🚩OCP Africa, in a partnership agreement with the Ministry of Food and Agriculture (MoFA), has increased its efforts to support the agricultural value chain in Ghana. The agreement seeks to intensify OCP Africa’s flagship agribooster programme that will bring a global offer to farmers with access to inputs of good quality, training and market. The 2020 Agribooster Campaign which is aligned with government’s flagship Planting for Food and Jobs (PFJ) Programme, and jointly implemented by OCP Africa and MoFA, has provided improved fertilizers to support farmers across eight regions of Ghana to mitigate the effects of COVID-19 on small-holder farmers. Over 100,000 farmers who have benefitted from these improved fertilizers in the 2020 agribooster campaign will also receive training on Good Agricultural Practices (GAP).

🚩The 55th Annual Meetings of the African Development Bank opened in Abidjan on Wednesday with renewed commitment to economic resilience in Africa. In his opening speech, the President of Côte d’Ivoire, Alassane Ouattara, highlighted the unusual context of this year’s annual meetings, taking place against the backdrop of the COVID-19 pandemic. He also underscored the Bank’s critical support for his country and other regional members. “This is an opportunity for me to acknowledge the African Development Bank, its President and Board of Directors, for the unwavering support expressed in these difficult times to African states. Indeed, the Bank’s COVID-19 Rapid Response Facility has made it possible to finance and support African countries in the fast implementation of plans to fight the pandemic.”

🚩Absa Bank Ghana has made a donation of GH¢500,000 to the Noguchi Memorial Institute of Medical Research (NMIMR) to support the institute’s key role in the fighting against COVID-19. According to Absa Bank, the donation is to support Noguchi, the main COVID-19 testing centre, to increase their testing capacity in order to keep up with daily case reporting and management which is critical to Government’s fighting against the pandemic. Commenting on the donation, Mrs. Abena Osei-Poku, Managing Director of Absa Bank Ghana, indicated that the support is a demonstration of the bank’s commitment to help win the fight against COVID-19 .

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Save the date 29th August, 2020 because InvestinGh brings you it’s 3rd webinar @ 17:00GMT with Mr. Nana Sarfo (CE0, Bora Capital Advisors) and Mr. William Mensah (Principal Consultant, Lifespring Consult Ltd) to teach you “How to Achieve Financial Independence”. Don’t miss this extensive and educative discussion. Visit www.investingh.info to register for free.

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6801 Sell 5.6857
GB£GH¢ Buy 7.4880 Sell 7.4961
AUD$GH¢ Buy 4.1139 Sell 4.1191
CAD$GH¢ Buy 4.3236 Sell 4.3275
JP¥GH¢ Buy 0.0533 Sell 0.0533
ZARGH¢ Buy 0.3322 Sell 0.3324
EU€GH¢ Buy 6.7031 Sell 6.7097
CHN¥GH¢ Buy 0.8235 Sell 0.8240
GH¢CFA Buy 97.7625 Sell 97.8588
GH¢NG₦ Buy 67.9354 Sell 68.1254

CRYPTOCURRENCY MARKET
Bitcoin $11,313.27 🔻-1.56%
Ethereum $381.70 🔻-1.66%
Ripple $0.263064 🔻-5.47%
Bitcoin Cash $263.23 🔻-4.69%
Chainlink $14.51 🔻-4.32%
Bitcoin SV $185.58 🔻-3.57%
Litecoin $55.76 🔻-4.65%
Cardano $0.106191 🔻-8.45%
Binance Coin $22.55 🔻-0.83%
EOS $2.96 🔻-5.62%
Stellar $0.093133 🔻-5.53%

💵Bloomberg USDGHS Cross Rate – 5.7746 (YTD – ⬆️ +1.12%)

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

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GCB -5.26% ➡Gh¢3.60

〽Inflation rate in Ghana ➡ 11.40% (+1.79%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY RATES💸
91 – Day Discount Rate 13.5608% Interest Rate 14.0367%
182 – Day Discount Rate 13.1810% Interest Rate 14.1110%
364 – Day Discount Rate 14.4088% Interest Rate 16.8345%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
7 Year Bond Interest Rate 20.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -67.23% ➡Gh¢1.35
GGBL -40.83% ➡Gh¢1.00
UNIL -30.85% ➡Gh¢11.34
GCB -29.41% ➡Gh¢3.60
RBGH -28.57% ➡Gh¢0.40

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 28,492.27 +160.35
+0.57%
*S&P 500 🏦 3,484.55 +5.82
+0.17%
*Nasdaq Index📲💻 11,625.34 -39.72
-0.34%

NYSE Composite Index 13,068.81 +26.27
+0.20%
*London FTSE 100 5,999.99 -45.61
-0.75%
*Germany DAX 13,096.36 -93.79
-0.71%
*Japan NIKKEI 225 23,208.86 -82.00
-0.35%
*Hong Kong HANG SENG 25,281.15 -210.64
-0.83%
*Shanghai Shenzhen 300 4,731.35 +25.22
+0.54%
*S&P/ASX 200 Index 6,126.23 +9.87
+0.16%
*Bloomsberg EU 500 245.30 -1.38
-0.56%
*MOEX Russia Index 3,012.01 -39.96
-1.31%
*FTSE/JSE South Africa Top40 52,583.70 +326.85
+0.63%
*Nairobi SE 20 Share 1,771.18 +10.54
+0.60%
*Nigeria SE Main-Board Index 25,304.25 -25.85
-0.10%
*GSE Composite Index 1687.70 
-165.96 (-8.95%)
*GSE Financial Index 1848.55 
151.42 (+8.92%)

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,848.55 🔻-25.23%
*GSE Financial Index 1,687.70 🔻-15.97%

💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.58%
EPAcK 🔻-17.56%
Republic Equity 🔻-1.90%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+0.20%
CCMF 🔼+10.41%
CM Fund 🔼+9.46%
Dalex Vision 🔼+8.60%
EDC Balanced 🔻-5.37%
Plus Balanced Fund +8.56%
EdiFund T2 🔼+4.31%
Republic F Plan 🔼+0.89%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+9.96%
Fidelity Fixed Income Trust 🔼+11.07%
NIMED Fixed Income Fund Tier 1 🔼+3.14%
Fixed Income Alpha Plus 🔼+14.22%
Plus Income Fund 🔼+11.36%
SEM Income 🔼+10.37%
STANLIB Income 🔼+11.45%

MONEY MARKET FUNDS ⏱YTD%
Mfund 🔼+10.80%
EdiFund T1 🔼+9.76%
NGIS Mfund 🔼+9.35%
Republic Unit 🔼+6.77%
SEM MoneyPlus 🔼+8.95%
STANLIB Cash 🔼+11.03%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $45.13 -0.51
-1.12%
*Natural Gas 🏭 $/million BTUS $2.58 +0.12
+4.79%
*Gold 👑 $/troy ounce $1,932.60 -19.90
-1.02%
*Silver 💍 $/troy ounce $27.20 -0.41
-1.47%
*Corn 🌽 $/bushel $358.50 +4.25
+1.20%
*Cocoa 🍫 $/metric ton $2,539.00 +63.00
+2.54%
*Coffee ☕ ¢/pound $122.35 +0.25
+0.20%
*Sugar🎂 ¢/pound $12.77 +0.19
+1.51%

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

GHANA AND BEYOND 19082020

🚩Ghana’s Non-Traditional Exports (NTEs) have yielded US$2.9 billion in revenue for the year 2019, a report by the Ghana Export Promotion Authority (GEPA) has shown. The report, which was launched at GEPA’s newly opened Ashanti zonal office in Danyame, Kumasi, showed the NTEs grew 3.1 percent over the 2018 revenue of US$2.8 billion. However, national export grew by 8.5 percent over 2018 compared to a slower rate in NTEs for the same period. Highlights of the 2019 report presented by Deputy Chief Executive Officer in charge of Operations & Finance at GEPA, Samuel Dentu, also showed that the top ten products that contributed 57 percent of NTEs earnings were in the manufacturing sector.

🚩The University for Development Studies (UDS) has collaborated with the United Kingdom (UK) and Economic Commission of West African Studies (ECOWAS) to develop a project that will help establish a food systems and export network for peasant farmers to help boost agricultural business in the sub-region. The six-month project, dubbed Ghana-ECOWAS Food Systems and Export Network (UKEFSEN), targeting smallholder farmers is to create market opportunities and also enable them to own 40% of the market for home-grown food crops.

🚩An indigenous firm, SunPower Innovations, has said it is ready to partner the government to produce and deliver solar energy to businesses and communities in Ghana. According to the founder and the Chief Executive Officer, Ernest Amissah, it is time for the government and other development funding institutions to partner indigenous companies like SunPower Innovations to expand their operations, a situation he believes will lead to enormous job creation. Speaking at the opening ceremony of a one-megawatt off-grid solar system for Special Ice Factory manufactured by indigenous firm SunPower Innovations, Mr. Amissah said the “government wants to do 1D1F, but I ask myself, everybody is saying we are over generating.

🚩The Energy Minister says there are plans to explore how best government can benefit from renewable energy and go-ahead to export to neighbouring countries. Energy experts have often called on relevant government agencies to consider making power production attractive for export and they believe Ghana must innovate and make its renewable energy attractive for neighbouring countries. Although this form of energy is expensive, Representative from the Energy Ministry, Wisdom Ahiataku-Togoboare tells Citi Business News his outfit is looking at available options and opportunities.

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6793 Sell 5.6849
GB£GH¢ Buy 7.5125 Sell 7.5212
AUD$GH¢ Buy 4.1056 Sell 4.1111
CAD$GH¢ Buy 4.3091 Sell 4.3136
JP¥GH¢ Buy 0.0539 Sell 0.0539
ZARGH¢ Buy 0.3281 Sell 0.3284
EU€GH¢ Buy 6.7784 Sell 6.7856
CHN¥GH¢ Buy 0.8209 Sell 0.8213
GH¢CFA Buy 96.6690 Sell 96.7717
GH¢NG₦ Buy 67.4047 Sell 67.5806

CRYPTOCURRENCY MARKET
Bitcoin $12,067.65 🔻-1.77%
Ethereum $426.40 🔻-1.97%
Ripple $0.304912 🔻-4.28%
Bitcoin Cash $307.30 🔻-4.04%
Chainlink $16.56 🔻-8.60%
Bitcoin SV $219.43 🔻-3.21%
Litecoin $66.56 🔻-1.55%
Cardano $0.138224 🔻-2.31%
Binance Coin $23.30 🔻-1.68%
EOS $3.64 🔻-4.35%
Stellar $0.109778 🔻-4.29%

💵Bloomberg USDGHS Cross Rate – 5.7587 (YTD – ⬆️ +0.84%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
SOGEGH +1.61% ➡Gh¢0.63
GCB +0.26% ➡Gh¢3.81

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GGBL -7.41% ➡Gh¢1.00
GOIL -1.26% ➡Gh¢1.57
EGL -0.70% ➡Gh¢1.41

〽Inflation rate in Ghana ➡ 11.40% (+1.79%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY RATES💸
91 – Day Discount Rate 13.1816% Interest Rate 14.0045%
182 – Day Discount Rate 13.5307% Interest Rate 14.1117%
364 – Day Discount Rate 14.4088% Interest Rate 16.8345%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
7 Year Bond Interest Rate 20.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -63.59% ➡Gh¢1.50
GGBL -40.83% ➡Gh¢1.00
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -25.29% ➡Gh¢3.81

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 27,778.07 -66.84 -0.24%
*S&P 500 🏦 3,389.78 +7.79 +0.23%
*Nasdaq Index📲💻 11,210.84 +81.12 +0.73%

NYSE Composite Index 12,881.76 -38.90 -0.30%
*London FTSE 100 6,076.62 -50.82 -0.83%
*Germany DAX 12,910.33 -25.78 -0.20%
*Japan NIKKEI 225 23,051.08 -45.67 -0.20%
*Hong Kong HANG SENG 25,367.38 +20.04 +0.08%
*Shanghai Shenzhen 300 4,812.76 -2.47 -0.05%
*S&P/ASX 200 Index 6,123.36 +46.98 +0.77%
*Bloomsberg EU 500 242.54 -1.43 -0.59%
*MOEX Russia Index 3,050.70 -1.76 -0.06%
*FTSE/JSE South Africa Top40 52,738.12 -402.09 -0.76%
*Nairobi SE 20 Share 1,729.46 -8.97 -0.52%
*Nigeria SE Main-Board Index 25,136.49 -7.19 -0.03%
*GSE Composite Index 1870.50 -2.35 (-0.13%)
*GSE Financial Index 1726.64 1.43 (+0.08%)

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,870.50 🔻-17.13%
*GSE Financial Index 1,726.64 🔻-14.23%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.20%
EPAcK 🔻-17.10%
Republic Equity 🔻-1.37%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+0.18%
Dalex Vision 🔼+8.39%
EDC Balanced 🔻-4.80%
EdiFund T2 🔼+3.97%
Fidelity Balanced Trust 🔼+4.37%
Plus Balanced Fund 🔼+8.32%
Republic F Plan 🔼+1.22%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+9.66%
Fidelity Fixed Income Trust 🔼+11.07%
STANLIB Income 🔼+11.10%

MONEY MARKET FUNDS ⏱YTD%
Mfund 🔼+10.41%
STANLIB Income 🔼+11.10%
NGIS Mfund 🔼+9.16%
Republic Unit 🔼+6.54%
STANLIB Cash 🔼+10.69%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $45.46 +0.09 +0.20%
*Natural Gas 🏭 $/million BTUS $2.42 +0.00 +0.17%
*Gold 👑 $/troy ounce $2,013.60 +0.50 +0.02%
*Silver 💍 $/troy ounce $28.10 -0.15 -0.52%
*Corn 🌽 $/bushel $341.75 -3.00 -0.87%
*Cocoa 🍫 $/metric ton $2,445.00 +16.00 +0.66%
*Coffee ☕ ¢/pound $121.05 +3.60 +3.07%
*Sugar🎂 ¢/pound $12.89 -0.17 -1.30%

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

GHANA AND BEYOND 03082020

🚩Parliament has approved a US$200 million financing agreement between the Government of Ghana and the International Development Association (IDA) to finance the Ghana Jobs and Skills Project (GJSP). The project, which is being financed with credit from the IDA would be implemented over a six-year period and is expected to close on 30th June, 2026. The terms and conditions of the credit facility include the loan amount of US$200 million, Repayment period of 25 years, grace period of five years, maturity period of 30 years and interest charge of 1.35 percent per annum. There is commitment charge of 0.5 percent per annum, Service charge of 1.29 percent per annum and concessionality rate of 26.22 per cent.

🚩The Institute for Energy Security (IES) has noted that figures collated by its economic indicate that the cedis appreciated against the US Dollar by 0.35 percent. This, according to the IES, affected crude oil prices to remain fairly stable over the period. Raymond Nuwokoor, Research and Policy Analysts at the IES said in a statement that Prices of Petroleum products remained largely stabled in pricing window under review against expected increase Based on markets valuables. Majority of the oil marketing companies (OMCs) including Market leader Goil maintained the prices of Gasoline and gasoil within the period. As a result the average national price per litre stands at GH¢4.80 for both gasoline and gasoil.

🚩AngloGold Ashanti has announced that Kelvin Dushnisky will step down as chief executive officer (CEO), effective September 1, 2020. The Board thanked him for his contribution in delivering on its strategy and wishes him well in the future. A statement said Kelvin will remain in Toronto to spend time with his family but will be available to assist the group with a smooth handover until 28 February 2021. “I would like to thank Kelvin for his role in advancing our strategy, and wish him the very best for the future,” AngloGold Ashanti Chairman Sipho Pityana said. “AngloGold Ashanti is well positioned to further improve returns for shareholders, through improved operational performance and our rigorous approach to capital allocation.”

🚩OPEC’s oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members made limited progress on compliance. The 13-member Organization of the Petroleum Exporting Countries pumped 23.32 million bpd on average in June, the survey found, up 970,000 bpd from June’s revised figure, which was the lowest since 1991.OPEC and allies agreed in April to a record output cut as the coronavirus crisis hammered demand. An easing of lockdowns and lower supply have helped oil LCOc1 climb above $40 from April’s 21-year low of below $16 a barrel, although concerns of a second wave are keeping a lid on gains.

🚩Prices of Petroleum Products at the pumps are expected to remain stable in the coming days owing to the relative stability of the cedi against its major trading currencies. That’s the position of the Institute of Energy Security (IES). According to the Energy Think Tank, by virtue of relative stability in prices of Brent crude, Gasoline and Gasoil on the International Market finds prices of fuel on the local Market remaining largely fixed. Mr Raymond Nuwokpor, a Research and Policy Analyst at IES, said in a statement that prices of petroleum products remained largely stable in the pricing window under review against expected increases based on market valuables. The majority of the oil marketing companies (OMCs) including market leader Goil, maintained the prices of gasoline and gasoil within the period.

🚩Lifeline customers on both prepaid and postpaid metering systems will realise their relief of the government’s 100 percent absorption of electricity bills effective August 2020, the Electricity Company of Ghana (ECG) has announced. It follows President Nana Addo Dankwa Akufo-Addo’s announcement that the government will absorb the full bills of lifeline residential customers from July to December 2020. This is part of the government’s efforts to minimise the effect of the outbreak of COVID-19 on the citizenry and the economy. A statement signed by the Managing Director of ECG, Mr Kwame Agyeman-Budu, on Friday, 31 July 2020, outlining the implementation guidelines for the relief, the state power distributor indicated that the relief will be realised by customers between August 2020 to January 2021.

🚩Oil prices rose on Friday and were on track for monthly gains, benefiting from news that U.S. oil output cuts in May were the largest on record. Brent crude settled up 37 cents, or 0.9%, at $43.31 a barrel. U.S. crude was up 35 cents, or 0.9%, at $40.27 after dropping 3.3% in the previous session, also off lows not seen since July 10. Brent crude posted a fourth month of gains and U.S. crude posted a third as both rise from depths hit in April, when much of the world was in lockdown due to the coronavirus pandemic. U.S. crude oil production plummeted in May, falling a record 2 million barrels per day to 10 million bpd, the U.S. Energy Information Administration said in a monthly report on Friday.

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6755 Sell 5.6811
GB£GH¢ Buy 7.3588 Sell 7.3673
AUD$GH¢ Buy 4.0665 Sell 4.0741
CAD$GH¢ Buy 4.2448 Sell 4.2490
JP¥GH¢ Buy 0.0541 Sell 0.0541
ZARGH¢ Buy 0.3432 Sell 0.3436
EU€GH¢ Buy 6.6813 Sell 6.6860
CHN¥GH¢ Buy 0.8104 Sell 0.8113
GH¢CFA Buy 98.1090 Sell 98.1780
GH¢NG₦ Buy 67.0095 Sell 67.0975

CRYPTOCURRENCY MARKET
Bitcoin $11,129.54 🔼5.20%
Ethereum $378.73 🔼1.27%
Ripple $0.292040 🔼0.57%
Bitcoin Cash $286.93 🔼9.69%
Bitcoin SV $219.27 🔼9.46%
Binance Coin $19.45 🔼1.77%
Litecoin $57.31 🔼6.22%
EOS $2.98 🔼8.99%
Cardano $0.134282 🔼6.68%
Stellar $0.103958 🔼2.17%

💵Bloomberg USDGHS Cross Rate – 5.7611

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

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 11.20% (-0.88%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.5203% Interest Rate 13.9933%
182 – Day Discount Rate 13.1295% Interest Rate 14.0520%
364 – Day Discount Rate 14.3977% Interest Rate 16.8194%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -59.95% ➡Gh¢1.65
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -25.49% ➡Gh¢3.80

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,428.32 +114.67 +0.44%
*S&P 500 🏦 3,271.12 +24.90 +0.77%
*Nasdaq Index📲💻 10,745.27 +157.46 +1.49%

NYSE Composite Index 12,465.05 -68.23 -0.54%
*London FTSE 100 5,897.76 -92.23 -1.54%
*Germany DAX 12,313.36 -66.29 -0.54%
*Japan NIKKEI 225 21,710.00 -629.23 -2.82%
*Hong Kong HANG SENG 24,595.35 -115.24 -0.47%
*Shanghai Shenzhen 300 4,695.05 +38.90 +0.84%
*S&P/ASX 200 Index 5,927.78 -123.30 -2.04%
*Bloomsberg EU 500 235.93 -2.27 -0.95%
*FTSE/JSE South Africa Top40 51,368.82 -82.62 -0.16%
*Nairobi SE 20 Share 1,804.10 -7.19 -0.40%
*Nigeria SE Main-Board Index 24,693.73 +43.57 +0.18%
*GSE Composite Index 1877.64 0.00 0.00%
*GSE Financial Index 1730.78 0.00 0.00%

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,877.64 🔻-16.81%
*GSE Financial Index 1,730.78 🔻-14.30%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-3.85%
EPAcK 🔻-17.22%
NTHC Horizon 🔻-0.25%
Republic Equity 🔻-1.51%
SAS Fortune 🔻-6.96%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-0.44%
CCMF 🔼+9.16%
CDH Balanced 🔻-2.14%
CM Fund 🔼+7.04%
Dalex Vision 🔼+7.80%
EDC Balanced 🔻-4.70%
EdiFund T2 🔼+3.43%
Fidelity Balanced Trust 🔼+3.69%
Kiddifund 🔼+0.30%
Plus Balanced Fund 🔼+7.58%
UMB Balanced 🔼+5.31%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+8.91%
Fidelity Fixed Income Trust 🔼+10.29%
Fixed Income Alpha Plus 🔼+12.87%
Plus Income Fund 🔼+9.97%
SEM Income 🔼+9.05%
STANLIB Income 🔼+10.35%

🏦MONEY MARKET FUNDS ⏱YTD%
Mfund 🔼+9.40%
EdiFund T1 🔼+8.59%
NGIS Mfund 🔼+8.82%
Republic Unit 🔼+6.14%
SEM MoneyPlus 🔼+7.77%
STANLIB Cash 🔼+10.02%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.52 +0.27 +0.62%
*Natural Gas 🏭 $/million BTUS $1.80 -0.03 -1.64%
*Gold 👑 $/troy ounce $1,985.90 +19.10 +0.97%
*Silver 💍 $/troy ounce $24.22 +0.85 +3.66%
*Corn 🌽 $/bushel $327.00 +0.25 +0.08%
*Cocoa 🍫 $/metric ton $2,400.00 +56.00 +2.39%
*Coffee ☕ ¢/pound $118.95 +3.60 +3.12%
*Sugar🎂 ¢/pound $12.64 +0.53 +4.38%

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

GHANA AND BEYOND 21072020

🚩The receiver is set to pay GH¢151.8 million to 5,637 former staff of 209 defunct Specialised Deposit Taking Institutions (SDIs) as outstanding salary arrears and compensation due them before the end of this month. This follows the Bank of Ghana (BoG) making available funds to the receiver and official liquidator to fully settle employee-related claims which otherwise rank as unsecured claims in the receiverships/liquidation of the affected companies. The amount is made up of GH¢144.3 million in compensation due the former employees and GH¢7.5million in salary arrears. A total of 2,036 staff of 177 microfinance companies (MFCs) will receive GH¢24.6 million for outstanding salary arrears and other related claims. It comprises GH¢20.3 million compensation and GH¢4.3 million salary arrears. In addition, 3,547 former employees of 21 savings & loans (S&Ls) and finance house companies will also be paid GH¢125.8 million.

🚩About 507,000 motor insurance stickers have been electronically issued since the introduction of the Motor Insurance Database (MID) policy, the National Insurance Commission (NIC) has said. This follows an earlier 272,000 stickers issued electronically in May of this year following the implementation of the MID in January 2020 to curb fake insurance stickers plying the roads. According to the Head of Supervision at the NIC, the regulator on a daily basis, pays some GH¢1.6 million in claims for motor insurance in Ghana. Speaking in an interview with GhanaWeb, Seth Eshun said; “Currently, we have over 507,000 electronically issued stickers so far and with everything been equal, we expect something around the region of a million by the end of this year. So, that means there’s still scope for us to improve. Eshun adds though the DVLA issues some 1.5 million cars annually with roadworthy certificates, only 0.8 million of vehicles have been issued adequate motor insurance.

🚩Ghana’s electricity export in 2019 reached the highest level in two decades, with 1,430 Gigawatt hours (GWh), representing 7.9 percent of total electricity generation, exported to neighbouring countries, the Energy Commission’s National Energy Statistics report has revealed. The country’s electricity import in 2019 fell to 127 GWh, equivalent to 0.7 percent of total generation and the lowest level since 2014. This yielded a net electricity export (export minus import) of 1,227 GWh in 2019, double the net export figure of 600 GWh in 2018 and also the highest level in two decades.

🚩Parliament has approved a total of US$2.068million tax waiver on machinery, equipment and raw materials to be procured by three companies under the One District One Factory (1D1F) Programme of the Government of Ghana. The companies are Accum Energy Ghana Limited, Vester Oil Mills Limited and Ada Premium Diaper Care Limited. The request is for the waiver of Import Duty, Import NHIL, Import GETFund Levy, Import VAT and EXIM Levy amounting to US$1,208,404.00 for Accum Energy Ghana Limited, US$814,874.00 for Vester Oil Mills Limited and US$44,990.00 for Ada Premium Diaper Care Limited on machinery, equipment and raw materials to be procured by the three companies respectively. Dr Mark Assibey-Yeboah , Chairman of the Finance Committee in presenting the Committee’s report, observed that Accum Energy is a Ukrainian company that deals in the production of batteries for cars, trucks, motorcycles and tractors. It produces over 300,000 batteries per annum.

🚩Rider Iron and Steel Ghana Limited (RISGL) has expressed appreciation to International Finance Corporation (IFC), a member of World Bank Group for the approval and disbursement of US$12million loan to support the construction of steel manufacturing plant in Kumasi in the Ashanti Region. The director of Rider and Steel Ghana Limited, Eng. Walid Al Alami, believes that the capital injection from IFC is a game-changer, not just for the company but also for the industry and Ghana. “The loan will propel us to meet domestic demands and support many other businesses along the way,” he said. The company also expressed its gratitude to President Nana Addo Dankwa Akufo-Addo for bringing some relief to the Ghanaian people at a time that the world is struggling with job losses due to
COVID-19 .

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6686 Sell 5.6742
GB£GH¢ Buy 7.1702 Sell 7.1785
CAD$GH¢ Buy 4.1865 Sell 4.1901
JP¥GH¢ Buy 0.0529 Sell 0.0529
ZARGH¢ Buy 0.3397 Sell 0.3401
EU€GH¢ Buy 6.4859 Sell 6.4905
CHN¥GH¢ Buy 0.8113 Sell 0.8119
GH¢CFA Buy 101.0642 Sell 101.1358
GH¢NG₦ Buy 67.0910 Sell 67.1792

CRYPTOCURRENCY MARKET
Bitcoin $9,163.02 🔼+0.26%
Ethereum $236.06 🔼+0.51%
Ripple $0.195062 🔼+1.06%
Bitcoin Cash $227.06 🔻-1.03%
Bitcoin SV $222.62 🔻-1.06%
Binance Coin $18.19 🔻-3.86%
Litecoin $41.86 🔻-1.07%
EOS $2.55 🔻-2.41%
Cardano $0.119046 🔻-2.67%
Stellar $0.095986 🔻-2.90%

💵Bloomberg USDGHS Cross Rate – 5.7513

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
MTNGH +1.79% ➡Gh¢0.57
GCB +1.60% ➡Gh¢3.80

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 11.20% (-0.88%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.4056% Interest Rate 13.8704%
182 – Day Discount Rate 13.1347% Interest Rate 14.0580%
364 – Day Discount Rate 14.4685% Interest Rate 16.9160%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 19.5000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -59.95% ➡Gh¢1.65
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -25.49% ➡Gh¢3.80

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,680.87 +8.92
+0.03%
*S&P 500 🏦 10,767.09 +263.90
+2.51%
*Nasdaq Index📲💻 3,251.84 +27.11
+0.84%

NYSE Composite Index 12,392.98 -9.76
-0.08%
*London FTSE 100 6,261.52 -28.78
-0.46%
*Germany DAX 13,046.92 +127.31
+0.99%
*Japan NIKKEI 225 22,717.48 +21.06
+0.09%
*Hong Kong HANG SENG 25,057.99 -31.18
-0.12%
*Shanghai Shenzhen 300 4,680.30 +135.60
+2.98%
*S&P/ASX 200 Index 6,001.57 -32.06
-0.53%
*Bloomsberg EU 500 248.64 +1.83
+0.74%
*FTSE/JSE South Africa Top40 51,852.22 +336.34
+0.65%
*Nairobi SE 20 Share 1,909.63 +0.27
+0.01%
*Nigeria SE Main-Board Index 24,273.42 -14.24
-0.06%
*GSE Composite Index 1874.62 
13.38 (+0.72%)
*GSE Financial Index 1725.21 
2.83 (+0.16%)

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,874.62 🔻-16.95%
*GSE Financial Index 1,725.21 🔻-14.58%

💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.56%
Republic Equity 🔻-1.97%
EPAcK 🔻-16.88%
SAS Fortune 🔻-3.42%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-0.61%
CM Fund 🔼+7.04%
CDH Balanced 🔻-2.14%
Dalex Vision 🔼+7.41%
Fidelity Balanced Trust 🔼+3.21%
EDC Balanced 🔻-5.06%
EdiFund T2 🔼+3.18%
Kiddifund 🔼+0.30%
Plus Balanced Fund 🔼+7.04%
UMB Balanced 🔼+4.45%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+8.39%
Fixed Income Alpha Plus 🔼+12.13%
Fidelity Fixed Income Trust 🔼+9.51%
Plus Income Fund 🔼+9.36%
SEM Income 🔼+8.75%
STANLIB Income 🔼+9.73%

🏦MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+8.24%
Mfund 🔼+8.98%
NGIS Mfund 🔼+7.91%
SEM MoneyPlus 🔼+7.51%
STANLIB Cash 🔼+9.21%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.21 +0.07
+0.16%
*Natural Gas 🏭 $/million BTUS $1.64 -0.08
-4.48%
*Gold 👑 $/troy ounce $1,819.10 +9.10
+0.50%
*Silver 💍 $/troy ounce $20.34 +0.57
+2.89%
*Corn 🌽 $/bushel $335.50 -4.25
-1.25%
*Cocoa 🍫 $/metric ton $2,219.00 +59.00
+2.73%
*Coffee ☕ ¢/pound $99.75 -2.55
-2.49%
*Sugar🎂 ¢/pound $11.72 -0.01
-0.09%

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

GHANA AND BEYOND 17072020

BUSINESS NEWS | GHANA AND BEYOND 🌍 17/07/2020

🚩The National Pensions Regulatory Authority, NPRA, says the impact of COVID-19 on the pensions industry globally is a reminder to developing countries such as Ghana to institute and implement long-term sustainable plans for the aged. According to the NPRA, most pension funds have suffered a setback because some of the major financial assets where pension funds were invested witnessed a huge dip in returns due to uncertainties caused by the pandemic. Like all other sectors, COVID-19 has also hit the pensions industry, reducing the returns of fund managers. Typically, pension funds are invested in long term instruments due to their nature. In developed economies, pension funds serve as a pool of money to invest in the real sectors to generate returns upon which part is given to pension contributors when they retire.

🚩The Institute for Energy Security (IES) has predicted that fuel prices may go up slightly. Going by the 3.68% surge in price of Brent crude oil, in addition to the 5.59% and 5.31% rise in the prices of Gasoline and Gasoil respectively on the international market; the IES foresees prices of fuel on the domestic market going up marginally even though the Cedi appreciated against the US dollar by 0.17%. However, the IES said, competition between Oil Marketing Companies (OMCs) to control and gain more market shares, and mounting pressure on government to reduce prices of fuel may result in fuel prices remaining largely stable within the second Pricing-window of July 2020.

🚩A Research article by the Institute for Energy Security (IES) has made a case for the strong consideration of Solar and Wind energy sources in Ghana and Africa’s post-COVID recovery plan. In an article authored by IES Research and policy Analyst Raymond Nuworkpor citing multiple authorities, The IES said not only does the adoption reduce pressure on the national grid because of “its unreliability in terms of power supply”, but “provides cheaper sources of energy at more stable generation and use levels, that enable businesses to adequately plan and grow.” The institute added further: “The green energy sources are rapidly becoming cheaper than fossil fuel powered plants. 56 percent of capacity additions for utility-scale renewable power in 2019 achieved lower electricity costs than cheapest coal plants. There will also be 23 billion annual potential savings if the costliest 500 GW of existing coal were replaced by solar and wind. Also, 1.8 gigatons of carbon dioxide reduction annually possible, equalling to 5 percent of the total global carbon dioxide emissions last year. And lastly, a cumulative global GDP will grow by US$98 trillion, according to IRENA.”

🚩A swiss based Engineering Company NEK has stated its readiness to construct 1,000 megawatts of wind power for the Country as part of efforts to implement the Renewable Energy Act (Act 832). The Project which is in two phases, will see 150 megawatts of wind power constructed and a second phase of 75 megawatts constructed once Government gives the go-ahead for the construction. NEK’s wind farms will produce electricity on a much cheaper level in a sustainable manner. The Ayitepa Wind Farm, for instance will offer ECG an amount of 8.9 cent per kilowatt per hour which is much less than any other electricity Producers can offer.

🚩The government has reiterated its commitment to improving the livelihood of small and micro business operators, especially among the youth to help minimize unemployment. Mr Dennis Armah-Frempong, the Agona East District Chief Executive (DCE), said government’s priority was to initiate mentorship for business growth and to provide funding opportunities for businesses in rural and urban communities to reduce poverty. Mr Armah-Frempong said this in an address at a training workshop for small and micro businesses at Nsaba in the Agona East District of the Central Region. The workshop was initiated by the Ministry of Business Development in collaboration with the Agona East District Assembly and the National Entrepreneurship and Innovative Programme of the Office of the President.

🚩Exactly a week after commercial airlines resumed flight services on Lagos-Abuja route, local airlines are struggling to sustain operations and meet cost as load factor hovers around 40 per cent. The day-one optimism of about 70 per cent traffic across some of the local carriers has waned. Some of the operators complained about traveler apathy, attendant low patronage and imminent collapse without government support. To cover cost of operation and improve traffic flow, local airlines have urged the Federal Government to fast-track the release of bailout funds and reopen international routes.

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6682 Sell 5.6738
GB£GH¢ Buy 7.1447 Sell 4.1920
CAD$GH¢ Buy 4.1880 Sell 4.1920
JP¥GH¢ Buy 0.0529 Sell 0.0530
ZARGH¢ Buy 0.3408 Sell 0.3411
EU€GH¢ Buy 6.4787 Sell 6.4843
CHN¥GH¢ Buy 0.8122 Sell 0.8129
GH¢CFA Buy 101.1608 Sell 101.2482
GH¢NG₦ Buy 67.0958 Sell 67.1839

CRYPTOCURRENCY MARKET
Bitcoin $9,124.03 🔻-0.75%
Ethereum $233.18 🔻-2.19%
Tether $1.00 🔻-0.17%
Ripple $0.193840 🔻-1.57%
Bitcoin Cash $223.72 🔻-1.53%
Binance Coin $17.04 🔻-3.05%
Litecoin $41.92 🔻-3.10%
EOS $2.49 🔻-1.63%
Cardano $0.102501 🔻-7.65%
Stellar $0.124898 🔼+4.65%

💵Bloomberg USDGHS Cross Rate – 5.7505

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

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
ETI -14.29% ➡Gh¢0.06

〽Inflation rate in Ghana ➡ 11.20% (-0.88%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.5162% Interest Rate 13.9889%
182 – Day Discount Rate 13.1019% Interest Rate 14.0204%
364 – Day Discount Rate 14.4685% Interest Rate 16.9160%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
3 Year Bond Interest Rate 19.5000%
5 Year Bond Interest Rate 19.2500%
6 Year Bond Interest Rate 21.0000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -57.52% ➡Gh¢1.75
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -26.67% ➡Gh¢3.74

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,734.71 -135.39 -0.50%
*S&P 500 🏦 10,473.83 -76.66 -0.73%
*Nasdaq Index📲💻 3,215.57 -10.99 -0.34%

NYSE Composite Index 12,350.11 -41.21 -0.33%
*London FTSE 100 6,250.69 -41.96 -0.67%
*Germany DAX 12,874.97 -56.01 -0.43%
*Japan NIKKEI 225 22,830.16 +59.80 +0.26%
*Hong Kong HANG SENG 24,970.69 -510.89 -2.00%
*Shanghai Shenzhen 300 4,516.25 -228.22 -4.81%
*S&P/ASX 200 Index 6,016.40 +5.53 +0.09%
*Bloomsberg EU 500 246.60 -0.93 -0.38%
*FTSE/JSE South Africa Top40 51,363.49 -243.21 -0.47%
*Nairobi SE 20 Share 1,906.43 -7.14 -0.37%
*Nigeria SE Main-Board Index 24,330.06 +197.76 +0.82%
*GSE Composite Index 1874.21 -7.24 -0.38%
*GSE Financial Index 1722.38 -13.38 -0.77%

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,874.21 🔻-16.97%
*GSE Financial Index 1,722.38 🔻-14.72%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.56%
EPAcK 🔻-17.08%
Republic Equity 🔻-2.43%
SAS Fortune 🔻-3.42%

⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-1.04%
CCMF 🔼+8.60%
CM Fund 🔼+7.04%
Dalex Vision 🔼+7.14%
EDC Balanced 🔻-6.05%
Kiddifund 🔼+0.30%
Fidelity Balanced Trust 🔼+2.60%
EdiFund T2 🔼+2.74%
Plus Balanced Fund 🔼+6.59%
Republic F Plan 🔼+0.06%
UMB Balanced 🔼+4.45%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+8.09%
Fidelity Fixed Income Trust 🔼+8.81%
Fixed Income Alpha Plus 🔼+11.52%
Plus Income Fund 🔼+8.84%
SEM Income 🔼+8.20%
STANLIB Income 🔼+9.39%

🏦MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+7.88%
Mfund 🔼+8.63%
Republic Unit 🔼+5.55%
SEM MoneyPlus 🔼+7.17%
STANLIB Cash 🔼+8.79%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.40 +0.03 +0.07%
*Natural Gas 🏭 $/million BTUS $1.72 0.00 -0.06%
*Gold 👑 $/troy ounce $1,798.50 -1.80 -0.10%
*Silver 💍 $/troy ounce $19.55 -0.02 -0.12%
*Corn 🌽 $/bushel $332.50 +2.25 +0.68%
*Cocoa 🍫 $/metric ton $2,161.00 +26.00 +1.22%
*Coffee ☕ ¢/pound $98.35 +1.15 +1.18%
*Sugar🎂 ¢/pound $11.79 -0.03 -0.25%

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

GHANA AND BEYOND 16072020

BUSINESS NEWS | GHANA AND BEYOND 🌍 16/07/2020

🚩The national year-on-year inflation rate was 11.2% in June 2020, which is 0.1 percentage points lower than last month, the Ghana Statistical Service (GSS), has announced. Month-on-month inflation between May 2020 and June 2020 was 1%. This is lower than the 1.7% recorded between April and May and 3.2% between March and April 2020, but higher than the average month-on-month inflation recorded in the months October 2019 to March 2020 (0.7%). Only two of the thirteen Divisions had higher than average inflation rates; Housing, Water, Electricity and Gas (21.3%) and Food and Non-Alcoholic Beverages (13.8%). At the regional level, the overall year-on-year inflation ranged from 4.3% in the Upper West Region and Volta Region to 15.0% in Greater Accra.

🚩Parliament has approved the waiver of taxes to the Ghana Space Science and Technology Institute (GSSTI) to the tune of ZAR4,907,555.00 (South African Rands) for the purchase of equipment, tools and hardware for the Ghana Radio Astronomy Project and Co-location of the Satellite Earth Observation Ground Receiving Station at Kuntunse. The Radio Telescope, the biggest single dish in Africa, will become part of the global Very Long Baseline Interferometry (VLBI) Network of telescopes jointly undertaking scientific research. It will also be used for single dish astronomy, becoming both a research and training facility for students, scientists and engineers in Ghana and the sub-region.

🚩The Council of the Ghana Stock Exchange has appointed Ms. Abena Amoah as the Deputy Managing Director of the Exchange. She will be responsible for the operational activities of the Exchange, namely, Trading and Surveillance, Listings and New Products, the Ghana Fixed Income Market and the IT systems of the Exchange. A statement from the Exchange said she would assist the Managing Director in defining and implementing the Exchange’s corporate strategies and plans, among other responsibilities. “Ms. Amoah is an accomplished investment banker and capital markets expert who has led on many landmark transactions for more than 20 years,” it said. “Abena’s experience covers stock market listings and trading, mergers and acquisitions advisory, investment research, asset management, private placement of equity, debt and hybrid instruments, large infrastructure project development, business start-ups and incubation, public education on investment and financial matters, and capital markets development strategies, across diverse sectors of the Ghanaian environment”.

🚩South Africa’s inflation rate dropped below the central bank’s target range for the first time in 15 year in May due to lower fuel prices. Consumer prices rose 2.1% from a year earlier compared with 3% in April, the Pretoria-based Statistics South Africa said Wednesday in a statement on its website. That’s the lowest since September 2004. The median estimate of 15 economists in a Bloomberg survey was 2.2%. Prices fell 0.6% in the month, the biggest drop since November 2003. The slowdown was driven by a decrease in the fuel price in May. The cost of gasoline was 27% lower than a year earlier. Higher food costs added to the headline number, with price growth accelerating to 4.8% from 4.6%.

➖➖➖➖➖➖➖➖➖

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6682 Sell 5.6738
GB£GH¢ Buy 7.1402 Sell 7.1479
CAD$GH¢ Buy 4.1903 Sell 4.1935
JP¥GH¢ Buy 0.0530 Sell 0.0531
ZARGH¢ Buy 0.3420 Sell 0.3423
EU€GH¢ Buy 6.4734 Sell 6.4775
CHN¥GH¢ Buy 0.8122 Sell 0.8124
GH¢CFA Buy 101.2670 Sell 101.3311
GH¢NG₦ Buy 67.0958 Sell 67.1839

CRYPTOCURRENCY MARKET
Bitcoin $9,185.00 🔻-0.67%
Ethereum $238.07 🔻-1.03%
Tether $0.998236 🔻-0.09%
Ripple $0.198186 🔻-1.10%
Bitcoin Cash $227.06 🔻-1.03%
Binance Coin $18.19 🔻-3.86%
Litecoin $43.84 🔻-1.69%
EOS $2.55 🔻-2.41%
Cardano $0.123213 🔻-2.22%
Stellar $0.093963 🔻-2.46%

💵Bloomberg USDGHS Cross Rate – 5.7495

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

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 11.20% (-0.88%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

🐂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%

🛢Average Petrol & Diesel Price Per Litre – Gh¢4.85 (🔼+4.30%)

GSE 2020 GAINERS ➖ YTD% ➖ PRICE
SIC +25.00% ➡Gh¢0.10
CMLT +22.22% ➡Gh¢0.11
ALW +10.00% ➡Gh¢0.11
DASPHARMA +2.56% ➡Gh¢0.40

🔻GSE 2020 LOSERS ➖ YTD% ➖ PRICE
FML -57.52% ➡Gh¢1.75
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -26.67% ➡Gh¢3.74

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,870.10 +227.51 +0.85%
*S&P 500 🏦 10,550.49 +61.92 +0.59%
*Nasdaq Index📲💻 3,226.56 +29.04 +0.91%

NYSE Composite Index 12,391.32 +187.11 +1.53%
*London FTSE 100 6,292.65 +112.90 +1.83%
*Germany DAX 12,930.98 +233.62 +1.84%
*Japan NIKKEI 225 22,945.50 +358.49 +1.59%
*Hong Kong HANG SENG 25,481.58 +3.69 +0.01%
*Shanghai Shenzhen 300 4,744.47 -62.22 -1.29%
*S&P/ASX 200 Index 6,052.92 +111.84 +1.88%
*Bloomsberg EU 500 247.53 +3.98 +1.63%
*FTSE/JSE South Africa Top40 51,606.70 +371.61 +0.73%
*Nairobi SE 20 Share 1,913.57 +19.92 +1.05%
*Nigeria SE Main-Board Index 24,132.30 +14.90 +0.06%
*GSE Composite Index 1881.45 0.00 (0.00%)
*GSE Financial Index 1735.76 0.00 (0.00%)

GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,881.45 🔻-16.64%
*GSE Financial Index 1,735.76 🔻-14.06%

💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.56%
EPAcK 🔻-17.08%
Republic Equity 🔻-2.43%
SAS Fortune 🔻-3.42%

🏦MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+7.88%
Mfund 🔼+8.63%
Republic Unit 🔼+5.55%
SEM MoneyPlus 🔼+7.17%
STANLIB Cash 🔼+8.79%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.79 +0.89 +2.07%
*Natural Gas 🏭 $/million BTUS $1.78 +0.01 +0.34%
*Gold 👑 $/troy ounce $1,813.50 -0.30 -0.02%
*Silver 💍 $/troy ounce $19.85 +0.09 +0.45%
*Corn 🌽 $/bushel $326.25 +0.25 +0.08%
*Cocoa 🍫 $/metric ton $2,135.00 -20.00 -0.93%
*Coffee ☕ ¢/pound $97.20 -0.75 -0.77%
*Sugar🎂 ¢/pound $11.82 +0.50 +4.42%

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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