🚩Mechanical Lloyd Plc (MLC) has announced a tender offer to purchase all its outstanding shares from shareholders as part of a process to delist the company from the Ghana Stock Exchange. MLC has offered to purchase the outstanding shares at GH¢0.10 per share, representing a premium of 11.10% compared to the prevailing market price of GH¢0.09 per share. The company noted that the delisting from the Ghana Stock Exchange was approved by shareholders in October last year. “At the 28th Annual General Meeting of Mechanical Lloyd Plc (“MLC”), held on 15 October 2020, shareholders approved a special resolution to delist the Company from the Ghana Stock Exchange”. And in line with the regulations of the Ghana Stock Exchange, “MLC is undertaking a tender offer, on behalf of the Promoters, to Qualifying Shareholders to purchase all their outstanding 16,900,487 ordinary shares at an offer price of GH¢0.10 per share”.
🚩JICA, GIDA, Ministry of Foods and Agriculture have expressed readiness to continue supporting rice cultivation, irrigation schemes and market-oriented agriculture across the country through the Kpong Irrigation Scheme. The project to improve the productivity and profitability of rice cultivation at the Kpong Irrigation Scheme has recorded some good successes. Through the Project for Enhancing Market-Based Agriculture by Smallholders and Private Sector Linkages in Kpong Irrigation Scheme (MASAPS-KIS) in the Eastern Region, the Japan International Cooperation Agency (JICA) is ensuring that rice cultivation increases and stable water distribution is enhanced. On 3rd March, 2021, JICA, Ghana Irrigation Development Authority (GIDA) organized a seminar to share experiences and implications based on the project
🚩British Airways is said to have reversed its decision to move Accra – London route from Heathrow to Gatwick. According to Aviation Ghana, the decision comes on the back of lots of negotiations between the government and officials of British Airways. British Airways had planned to commence the Accra – London route to Gatwick from this month. But this decision means passengers on the Accra – London route will now land at their original destination that is Heathrow. Government earlier threatened to take action against British Airways. The government had earlier given its strongest indication of taking reciprocal action against British Airways if it goes ahead with its planned switch of route from Heathrow Airport to Gatwick Airport.
🚩NIMED Capital Limited, a fund management company licensed by the Securities and Exchange Commission (SEC) and the National Pensions Regulatory Authority, NPRA, with specialty in investment banking and fund management, has announced the launch of its new unit trust – The NIMED Lifetime Unit Trust. The Scheme, which was launched on 3rd March, 2021, will focus on investing in the fixed income market.
On a regional level, 100% of the fund will be invested in securities within Ghana. The NIMED Lifetime Unit Trust is an open-ended fund with the aim of investing in investment grade fixed income securities that will provide investors with capital preservation, income and growth in the medium to long-term. This will enable investors to meet their objectives of retirement, education, buying a home and many more.
🚩The Association of Ghana Industries wants lending rates to go down further down to enable Ghanaian businesses compete favorably with their counterparts on the continent. Cost of loans have fallen by about 10% since 2017 to 21%, but the Policy Rate – the rate at which banks borrow from the Bank of Ghana still stands at 14.5%
Chief Executive of AGI, Seth Twum Akwaboah, believes lending rates in the country are still not competitive enough, though commending the present Bank of Ghana administration for pushing the rates down since assuming office.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.7251 Sell 5.7309
GB£GH¢ Buy 7.9974 Sell 8.0060
CHFGH¢ Buy 6.2421 Sell 6.2479
AUD$GH¢ Buy 4.4634 Sell 4.4682
CAD$GH¢ Buy 4.5342 Sell 4.5383
JP¥GH¢ Buy 0.0535 Sell 0.0536
NZDGH¢ Buy 4.1531 Sell 4.1583
ZARGH¢ Buy 0.3820 Sell 0.3824
EU€GH¢ Buy 6.9128 Sell 6.9196
CHN¥GH¢ Buy 0.8878 Sell 0.8886
GH¢CFA Buy 94.7970 Sell 94.8902
GH¢NG₦ Buy 71.1924 Sell 71.7161
CRYPTOCURRENCY MARKET
Bitcoin $49,616.04 🔼4.78%
Ethereum $1,564.46 🔼6.56%
Cardano $1.22 🔼0.84%
Binance Coin $241.75 🔼2.12%
Ripple $0.4511 🔼3.95%
Polkadot $37.06 🔼2.98%
Litecoin $189.08 🔼8.15%
Chainlink $30.10 🔼6.24%
Dogecoin $0.05061 🔼0.75%
Bitcoin Cash $525.16 🔼2.97%
Stellar $0.4224 🔼1.89%
Bitcoin SV $224.75 🔼1.79%
Monero $189.08 🔼8.15%
EOS $3.85 🔼6.76%
💵Bloomberg USDGHS Cross Rate – 5.7302 (YTD – 🔽-3.26%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
CAL ➡Gh¢0.83 🔼+3.75%
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today
〽Inflation rate in Ghana ➡ 9.90% (🔽-4.81%)
🏦Ghana Reference Rate ➡ 14.77% (🔺️+0.07%)
✳Policy Rate in Ghana ➡ 14.50% (🔽-9.38%)
¶ TREASURY RATES💸
14 – Day Discount Rate 14.4196% Interest Rate 14.5000%
56 – Day Discount Rate 14.1836% Interest Rate 14.5000%
91 – Day Discount Rate 12.8430% Interest Rate 13.2690%
182 – Day Discount Rate 12.9895% Interest Rate 13.8917%
364 – Day Discount Rate 14.3800% Interest Rate 16.7951%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 17.6000%
3 Year Bond Interest Rate 19.2500%
5 Year Bond Interest Rate 19.8500%
6 Year Bond Interest Rate 19.2500%
7 Year Bond Interest Rate 20.5000%
10 Year Bond Interest Rate 19.8000%
20 Year Fixed Rate Bond 20.2000%
🛢Average Petrol & Diesel Price Per Litre – Gh¢5.32 (🔺️+2.31%)
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 31,270.09 -121.43 -0.39%
*S&P 500 🏦 3,819.72 -50.57 -1.31%
*Nasdaq Index📲💻 12,997.75 -361.03 -2.70%
- NYSE Composite Index 15,199.20 -77.82 -0.51%
*London FTSE 100 6,675.47 +61.72 +0.93%
*Germany DAX 14,080.03 +40.23 +0.29%
*Japan NIKKEI 225 29,559.10 +150.93 +0.51%
*Tokyo TOPIX Index 1,904.54 +9.69 +0.51%
*Hong Kong HANG SENG 29,880.42 +784.56 +2.70%
*Shanghai Shenzhen 300 5,452.21 +102.58 +1.92%
*S&P/ASX 200 Index 6,758.10 -59.88 -0.88%
*Bloomsberg EU 500 274.60 +0.33 +0.12%
*France CAC All-Tradable 4,522.34 +12.73 +0.28%
*Dubai DFM General Index 2,589.99 +20.67 +0.80%
*MOEX Russia Index 3,416.04 +5.94 +0.17%
*FTSE/JSE South Africa Top40 62,861.62 -243.08 -0.39%
*Nairobi SE 20 Share 1,934.90 +12.32 +0.64%
*Nigeria SE Main-Board 39,522.06 -175.56 -0.44%
*BBG EMEA World Index 147.25 +0.45 +0.31%
*GSE Composite Index 2,207.27 +1.80 +0.08%
*GSE Financial Index 1,863.52 3.26 0.18%
🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%
MTNGH ➡Gh¢0.83 🔼+29.69%
CAL ➡Gh¢0.83 🔼+20.29%
SOGEGH ➡Gh¢0.73 🔼+14.06%
SCB ➡Gh¢18.15 🔼+11.28%
GCB ➡Gh¢4.50 🔼+11.11%
🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%
ETI ➡Gh¢0.07 🔻-12.50%
UNIL ➡Gh¢7.47 🔻-9.89%
ALW ➡Gh¢0.10 🔻-9.09%
ACCESS ➡Gh¢4.30 🔻-2.05%
GSE INDEXES ⏸ 2021 YTD RETURNS%
*GSE Composite Index 2,207.27 🔼+13.68%
*GSE Financial Index 1,863.52 🔼+4.53%
💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Databank EPAcK 🔼+2.57%
SAS Fortune 🔼+4.82%
Republic Equity Trust 🔼+2.94%
⚖BALANCED FUNDS ⏸ YTD%
Databank Bfund 🔼+3.70%
EDC Balanced 🔼+6.51%
CM Fund 🔼+2.41%
CDH Balanced Fund 🔼+2.54%
CCMF 🔼+2.37%
Republic Future Plan Trust 🔼+2.75%
Databank EdiFund T2 🔼+3.26%
Dalex Vision Fund 🔼+3.74%
Plus Balanced Fund 🔼+3.56%
Fidelity Balanced Trust 🔼+4.67%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+2.57%
Fidelity Fixed Income Trust 🔼+2.94%
NIMED Fixed Income Tier 1 🔼+2.11%
NIMED Fixed Income Tier 2 🔼+2.49%
Fixed Income Alpha Plus 🔼+2.44%
Plus Income Fund 🔼+2.42%
STANLIB Income 🔼+2.51%
Databank Mfund 🔼+2.70%
MONEY MARKET FUNDS ⏱YTD%
Databank EdiFund T1 🔼+2.74%
STANLIB Cash 🔼+2.12%
EDC Money Market Fund 🔼+2.25%
Republic Unit Trust 🔼+2.40%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $64.07 +1.37 +2.18%
*Natural Gas 🏭 $/million BTUS $2.80 -0.01 -0.46%
*Gold 👑 $/troy ounce $1,709.80 -6.00 -0.35%
*Silver 💍 $/troy ounce $26.20 -0.19 -0.71%
*Corn 🌽 $/bushel $535.25 -9.75 -1.79%
*Cocoa 🍫 $/metric ton $2,657.00 +12.00 +0.45%
*Coffee ☕ $/pound $132.80 -1.05 -0.78%
*Sugar🎂 $/pound $16.14 -0.29 -1.77%
*Lumber $/1000 board feet $844.70 +8.60 +1.03%
Rubber USd/kg $176.50 +2.90 +1.67%
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