🚩Government of Ghana has secured a US$200 million loan facility from the World Bank to support the coconut sector and three other tree crop commodities to increase production for export. The facility will support a programme known as the ‘Tree Crop Diversification Project’, which would enable the Tree Crops Development Authority (TCDA) to undertake research and development of different varieties of coconut, cashew, mango and rubber. The financial support would also go into strengthening institutional value chain governance, improving tree crop adaptation and climate change resilience and support post-harvest management and value addition lapses of the four selected tree crops. Dr Bryan Acheampong, the Minister of Food and Agriculture, announced this in a speech read on his behalf during the launch of the 2023 International Coconut Festival in Accra on Thursday.
🚩The total trade in goods between the United States and Ghana hit an all-time high of US$3.7 billion in 2022. Also, Ghana had a US$1.8 billion trade surplus with the United States in 2022, the US Embassy in Accra has disclosed. According to the Embassy, “Trade in services is also strong and growing. With the African Growth and Opportunities Act (AGOA) trade preferences, Ghanaians can export more than 6,500 products to the United States duty-free.” The United States government continues to support economic development as Ghana’s top development partner. In 2022, U.S. bilateral assistance to Ghana totalled over US$150 million with programs in health, economic growth, agriculture, education, human rights, governance, and security.
🚩The Social Security and National Insurance Trust (SSNIT) has said the new terms of the Domestic Debt Exchange Programme (DDEP) offered by government was better than the previous one. According to the Director-General of SSNIT, Dr John Ofori Tenkorang, the Trust will fully participate in government’s alternative Domestic Debt Exchange Programme including pension funds. He noted that the move will however not affect its payment of pensions to beneficiaries. “Government has tabled a new offer for pension funds that are holding government bonds, and the terms of the offer are certainly better than the first so we will look at it and then we will subscribe and make sure that we have enough liquidity to be able to pay immediate benefits when they are due”, Director General of SSNIT, Dr. John Ofori Tenkorang said.
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INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 10.9976 Sell 11.0086
GB£GH¢ Buy 13.9834 Sell 13.9985
CHFGH¢ Buy 12.5864 Sell 12.5988
AUD$GH¢ Buy 7.2071 Sell 7.2162
CAD$GH¢ Buy 8.2010 Sell 8.2088
JP¥GH¢ Buy 0.0761 Sell 0.0762
NZDGH¢ Buy 6.6603 Sell 6.6689
ZARGH¢ Buy 0.5870 Sell 0.5872
EU€GH¢ Buy 12.1121 Sell 12.1241
CHN¥GH¢ Buy 1.5239 Sell 1.5246
GH¢CFA Buy 54.1036 Sell 54.1572
GH¢NG₦ Buy 69.5259 Sell 70.5728
CRYPTOCURRENCY MARKET
Bitcoin $29,351.31 🔻0.54%
Ethereum $1,845.15 🔻0.28%
Binance Coin $240.38 🔻1.14%
Ripple $0.6372 🔻0.03%
Cardano $0.2964 🔻1.03%
Dogecoin $0.07554 🔻0.23%
Polygon $0.684 🔻0.51%
💵Bloomberg USDGHS Cross Rate – 11.2204 (YTD -🔺️10.00%)
💰STANBIC BANK FOREX RATES💵
US$GH¢ Buy 10.3500 Sell 11.3500
GB£GH¢ Buy 13.1445 Sell 14.5144
EU€GH¢ Buy 11.3498 Sell 12.5531
CH¥GH¢ Buy 1.4317 Sell 1.5832
🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
No gainers for today
🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
No losers for today
〽Inflation rate in Ghana ➡ 43.10%
🏦Ghana Reference Rate ➡ 29.28%
✳Policy Rate in Ghana ➡ 30.00%
¶ TREASURY RATES💸
91 – Day Discount Rate 24.0357% Interest Rate 25.5723%
182 – Day Discount Rate 24.0073% Interest Rate 27.2822%
364 – Day Discount Rate 23.3665% Interest Rate 30.4913%
🛢Petroleum Products – Average Price
🏗Petrol – Gh¢12.95/ltr (YTD 🔼4.44%)
🛢Diesel – Gh¢12.95/ltr (YTD 🔼-11.30%)
⛽LPG – Gh¢12.10/kg (YTD-🔺️+31.52%)
🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 35,176.15 +52.79 +0.15%
*S&P 500 🏦 4,468.83 +1.12 +0.03%
*Nasdaq Index📲💻 13,737.99 +15.97 +0.12%
- NYSE Composite Index 16,135.22 -0.55 0.00%
*London FTSE 7,618.60 +31.30 +0.41%
*Germany DAX 15,996.52 +143.94 +0.91%
*Japan NIKKEI 225 32,473.65 +269.32 +0.84%
*Tokyo TOPIX Index 2,303.51 +20.94 +0.92%
*Hong Kong HANG SENG 19,248.26 +2.23 +0.01%
*Shanghai Shenzhen 300 3,975.72 +8.15 +0.21%
*S&P/ASX 200 Index 7,357.39 +19.44 +0.26%
*Bloomsberg EU 500 300.17 +2.32 +0.78%
*France CAC All-Tradable 5,543.28 +79.12 +1.45%
*Dubai DFM General Index 4,048.85 -21.69 -0.53%
*MOEX Russia Index 3,148.86 +49.34 +1.59%
*FTSE/JSE South Africa 72,215.94 +874.63 +1.23%
*Nairobi SE 20 Share 1,594.44 +5.75 +0.36%
*Nigeria SE Main 65,205.35 +1,037.96 +1.62%
*BBG EMEA World Index 210.93 +2.70 +1.30%
*GSE Composite Index 3,105.52 0.00 0.00%
*GSE Financial Index 1,728.38 0.00 0.00%
GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,105.52 🔼+27.07%
*GSE Financial Index 1,728.38 🔻-15.80%
🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡Gh¢14.00 🔼+83.01%
MTNGH ➡Gh¢1.53 🔼+73.86%
TOTAL ➡Gh¢6.80 🔼+70.00%
UNIL ➡Gh¢6.24 🔼+60.82%
GGBL ➡Gh¢2.80 🔼+36.59%
🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
FML ➡Gh¢1.32 🔻-56.00%
SCB ➡Gh¢12.91 🔻-35.96%
SIC ➡Gh¢0.20 🔻-35.48%
EGL ➡Gh¢2.41 🔻-24.69%
SOGEGH ➡Gh¢0.80 🔻-20.00%
COMMODITIES MARKET
*Brent Crude USD/barrel⛽ 86.52 -1.03 -1.18%
*Natural Gas 🏭 USD/millon BTUS 2.76 -0.20 -6.62%
*Gold 👑 USD/troy ounce 1,948.90 -1.70 -0.09%
*Silver 💍 USD/troy ounce 22.82 +0.09 +0.40%
*Corn 🌽 USd/bushel 496.25 +2.00 +0.40%
*Cocoa 🍫 USD/metric ton 3,358.00 -5.00 -0.15%
*Coffee ☕ USd/pound 159.65 -0.55 -0.34%
*Sugar🎂 USd/pound 23.95 +0.24 +1.01%
Rubber USd/100kg 128.90 +0.70 +0.55%
Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Ghana News Agency.
Compiled By:
Prince Henry Danquah
Bora Capital Advisors Ltd.
+233(0)50-002-3155