🚩Ghana’s gross international reserves at the end of February 2021 was US$8.719 billion, providing cover for 4.2 months of imports of goods and services. The reserve level compares with the end-December 2020 position of US$8.624 billion, equivalent to 4.1 months of import cover. Dr. Ernest Addison , Governor of the central bank, who made this known, also said, cumulatively the Cedi appreciated by 0.6 percent against the US dollar in February 2021, compared with an appreciation of 4.5 percent in the same month of 2020.
🚩Ghana’s total earnings from export have been hit hard by the COVID-19 shocks, this is according to the latest report by the Bank of Ghana (BoG). The figures from the BoG indicate that earnings declined by US$2.5 billion as compared to what was realized during the same period last year. According to the report, what the country secured in the first two months of the year is about three hundred million dollars short of what Ghana got in the first two months of 2020. It can be attributed to a decline in prices of commodities on the international market like Gold and Cocoa that are yet to pick up from pre-pandemic levels. As a result of lockdowns and economies yet to open up fully because of the COVID restrictions.
🚩Ghana is heading back to the international capital markets to lock in relatively low borrowing costs before inflation concerns push global yields up further. West Africa’s second-biggest economy targets to issue its first zero-coupon dollar bond with four-year maturity, alongside a seven-year, 12-year and 20-year instruments, according to people familiar with the plans, who asked not to be named because they are not authorized to speak publicly about it. The country mandated Bank of America Corp., Citigroup Inc., Standard Chartered Plc, Standard Bank Group Ltd. and Rand Merchant Bank Ltd. as lead arrangers to commence investor meetings Wednesday, the people said. Ghana also offered to buy back as much as $250 million of its outstanding 7.875% notes due 2023, at $1,108.50 per $1,000 worth of bonds held.
🚩The African Cashew Alliance (ACA) is projecting an increase in cashew production in Africa in 2021 despite the effects of the pandemic on the global cashew industry. According to them, Africa is projected to exceed the over 2.1 million total raw cashew nuts (RCNs) it produced in 2020 and will remain the greatest producer of the commodity in 2021. A statement issued by the Alliance notes that the positive trend of production growth over the past years in West Africa is expected to continue with production estimated to be between 1.6million and 1.8 million tons of RCN by the end of the 2021 cashew season.
🚩The Finance Ministry has outlined government Medium Term Debt Strategy (MTDS) from this year till 2024 with the intention of keeping borrowing costs as low as possible, recuing debt risk and the pursuing of action considered to impact positively on public debt. This thus annuls the MTDS for the period 2020-2023. The strategy considers the costs and risks embedded in the current debt portfolio. This includes the future borrowing requirements for the medium term, the 2021 macroeconomic framework, the prevailing market conditions and other factors necessary to develop the strategy. This is in fulfilment of the statutory requirements in Section 59 of Act 921.
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Join another Invest In Gh webinar on “How to Buy Bonds in Ghana”* with Mr. Seth Ofori, General Manager at SIC Brokerage on March 27, 2021 @ 17:00GMT. Visit www.investingh.info to register for free.
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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. Watch the MoP webinar on the Invest in Gh YouTube channel.
To Register for MoP, Simply dial *170#, select Option 5 (Financial Services) and select Option 4 (Pensions and Investments), select Option 1 (My Own Pension), select Option 1 (Enrol) and follow the prompts to Begin
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Do you want to know more about Investing in Stocks, Mutual Funds, Cryptocurrencies? Or do you want to learn about the Real Estate Market in Ghana? Perhaps you want to know how to achieve Financial Independence? Invest in Gh has webinars to educate you on all these topics and more…
Visit the YouTube Channel at https://youtube.com/InvestinGh to learn more…
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.7244 Sell 5.7302
GB£GH¢ Buy 7.8539 Sell 7.8624
CHFGH¢ Buy 6.1153 Sell 6.1214
AUD$GH¢ Buy 4.3605 Sell 4.3652
CAD$GH¢ Buy 4.5601 Sell 4.5645
JP¥GH¢ Buy 0.0526 Sell 0.0526
NZDGH¢ Buy 3.9914 Sell 3.9964
ZARGH¢ Buy 0.3853 Sell 0.3857
EU€GH¢ Buy 6.7706 Sell 6.7773
CHN¥GH¢ Buy 0.8773 Sell 0.8781
GH¢CFA Buy 96.7874 Sell 96.8831
GH¢NG₦ Buy 71.0474 Sell 71.2308
CRYPTOCURRENCY MARKET
Bitcoin $53,029.01 🔻-2.06%
Ethereum $1,596.26 🔻-4.88%
Binance Coin $246.56 🔻-3.04%
Ripple $0.5026 🔻-7.98%
Cardano $1.13 🔻-2.31%
Polkadot $31.03 🔻-8.98%
Litecoin $178.06 🔻-6.71%
Chainlink $25.43 🔻-4.92%
Stellar $0.4129 🔻-2.66%
Bitcoin Cash $475.43 🔻-7.91%
Dogecoin $0.05191 🔻-3.66%
Bitcoin SV $218.50 🔻-0.29%
Monero $196.12 🔻-7.70%
EOS $3.77 🔻-8.11%
💵Bloomberg USDGHS Cross Rate – 5.7507 (YTD – 🔽-1.98%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today
〽Inflation rate in Ghana ➡ 10.30% (🔺️+4.04%)
🏦Ghana Reference Rate ➡ 14.34% (🔽-2.91%)
✳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 12.7843% Interest Rate 13.6573%
182 – Day Discount Rate 12.4934% Interest Rate 12.8962%
364 – Day Discount Rate 14.2853% Interest Rate 16.6661%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 17.6000%
3 Year Bond Interest Rate 17.7000%
5 Year Bond Interest Rate 18.3000%
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¢5.45 (🔺️+4.74%)
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 32,420.06 -3.09 -0.01%
*S&P 500 🏦 3,889.14 -21.38 -0.55%
*Nasdaq Index📲💻 12,961.89 -265.81 -2.01%
- NYSE Composite Index 15,276.56 -69.97 -0.46%
*London FTSE 6,712.89 +13.70 +0.20%
*Germany DAX 14,610.39 -51.63 -0.35%
*Japan NIKKEI 225 28,405.52 -590.40
-2.04%
*Tokyo TOPIX Index 1,928.58 -42.90 -2.18%
*Hong Kong HANG SENG 27,918.14 -579.24 -2.03%
*Shanghai Shenzhen 300 4,928.69 -80.56 -1.61%
*S&P/ASX 200 Index 6,778.77 +33.37 +0.49%
*Bloomsberg EU 500 280.62 +0.08 +0.03%
*France CAC All-Tradable 4,607.57 +1.19 +0.03%
*Dubai DFM General Index 2,515.35 -18.24 -0.72%
*MOEX Russia Index 3,485.33 +18.12 +0.52%
*FTSE/JSE South Africa Top40 59,768.81 -24.45 -0.04%
*Nairobi SE 20 Share 1,910.17 -21.17 -1.10%
*Nigeria SE Main-Board 39,085.78 +380.81 +0.98%
*BBG EMEA World Index 147.17 -0.39 -0.26%
*GSE Composite Index 2,214.58 0.00 0.00%
*GSE Financial Index 1,849.04 0.00 0.00%
🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%
MTNGH ➡Gh¢0.85 🔼+32.81%
SOGEGH ➡Gh¢0.74 🔼+15.63%
SCB ➡Gh¢18.15 🔼+11.28%
GCB ➡Gh¢4.50 🔼+11.11%
TOTAL ➡Gh¢3.11 🔼+9.89%
🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%
UNIL ➡Gh¢6.06 🔻-26.90%
ETI ➡Gh¢0.07 🔻-12.50%
ALW ➡Gh¢0.10 🔻-9.09%
ACCESS ➡Gh¢4.30 🔻-2.05%
CAL ➡Gh¢0.68 🔻-1.45%
GSE INDEXES ⏸ 2021 YTD RETURNS%
*GSE Composite Index 2,214.58 🔼+14.06%
*GSE Financial Index 1,849.04 🔼+3.72%
💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Databank EPAcK 🔼+2.83%
SAS Fortune 🔼+5.52%
Republic Equity Trust 🔼+3.17%
⚖BALANCED FUNDS ⏸ YTD%
Databank Bfund 🔼+4.31%
EDC Balanced 🔼+6.16%
CM Fund 🔼+3.23%
CDH Balanced Fund 🔼+3.06%
CCMF 🔼+3.28%
Republic Future Plan Trust 🔼+2.89%
Databank EdiFund T 2 🔼+3.93%
Elite Mutual Fund Plc 🔼+2.17%
Dalex Vision Fund 🔼+4.40%
Plus Balanced Fund 🔼+4.56%
Fidelity Balanced Trust 🔼+5.63%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+3.43%
Fidelity Fixed Income Trust 🔼+3.76%
Fixed Income Alpha Plus 🔼+3.87%
Plus Income Fund 🔼+3.64%
NIMED Fixed Income Tier 1 🔼+2.74%
NIMED Fixed Income Tier 2 🔼+3.08%
STANLIB Income 🔼+3.37%
Databank Mfund 🔼+3.65%
MONEY MARKET FUNDS ⏱YTD%
Databank EdiFund T1 🔼+3.68%
STANLIB Cash 🔼+2.91%
EDC Money Market Fund 🔼+3.03%
Republic Unit Trust 🔼+3.27%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $64.13 +3.34 +5.49%
*Natural Gas 🏭 $/million BTUS $2.52 +0.01 +0.40%
*Gold 👑 $/troy ounce $1,735.40 +7.90 +0.46%
*Silver 💍 $/troy ounce $25.17 -0.06 -0.25%
*Corn 🌽 $/bushel $552.50 +1.25 +0.23%
*Cocoa 🍫 $/metric ton $2,435.00 -12.00 -0.49%
*Coffee ☕ $/pound $126.50 -1.10 -0.86%
*Sugar🎂 $/pound $15.63 +0.20 +1.30%
*Lumber $/1000 board feet $945.80 +3.40 +0.36%
Rubber USd/kg $172.50 -1.80 -1.03%
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