🚩President Nana Akufo-Addo has announced the increment of new Cocoa producer price by 28% to GH¢10,560 per metric ton starting from October 1, this year. Addressing the Chiefs and the people of Sefwi Wiawso, Nana Akufo-Addo stated that the increment represents a hike of more than 28% over the price obtained in the outgoing crop year of 2019/2020. During the launch of the Cocoa Rehabilitation Programme, in Sefwi Wiawso on Thursday as part of day 1 of his 3-day tour of the Western North Region, he added that it is also the government’s intention to reward farmers for their work as part of it 2016 manifesto promise.
🚩Government of Ghana has given an amount of GH¢200,000 to entrepreneurs with disability in the Northern, Savannah and North East regions to help mitigate the impact of the coronavirus pandemic on their businesses. The grant, ranging from GH¢20,000 to GH¢70,000, was given to businesses into food and beverages, fashion, agriculture and trade and commerce. Presenting the cheques to the beneficiaries in Tamale, the Minister for Business Development, Dr Ibrahim
Mohammed Awal said GH¢2 million was allocated to entrepreneurs with disability nationwide to help provide relief support to their businesses.
🚩Agricultural and processing machinery, TIAST Group and Stanbic Bank have signed a Memorandum of Understanding to finance buyers of cassava processing equipment to boost the sector in the country. The Chief Business Officer, TIAST Group, Madam Lisa Hao, signed on behalf of the group while Mr Alhassan Andani, the Chief Executive Officer of Stanbic Bank signed for the bank. The strategic cooperation between the companies according to myjoyonline.com will provide financial assistance to cassava entrepreneurs for two to five years of equipment finance lease service, and a complete closed-loop financial support service.
🚩Six government youth agencies and programmes over the past three and half years have provided entrepreneurial support and empowerment to more than 2.5 million Ghanaian youth. The agencies are the National Youth Authority (NYA), the Youth Employment Agency (YEA), the Nation Builders Corps (NaBCo), the National Board for Small Scale Industries (NBSSI), the National Service Scheme (NSS) and the National Entrepreneurship and Innovation Plan (NEIP). This came to light when the Chief Executives and Executive Directors of the six institutions rendered account of their stewardship at the maiden Nation Building Updates held in Accra, on the theme, “Leadership that delivers for the Youth”.
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Invest in Gh brings another intriguing webinar to you on September 26, 2020 @ 14:00GMT. Dr. Kenneth Donkor-Hyiaman (Real Estate Finance & Economics Lecturer, KNUST) and Surveyor Nana Yaw Osei-Owusu (Syndicated Green Developers) will speak on the topic “Cost of Building a House in Ghana”. Visit www.investingh.info to register for free.
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🚩Independent Power Producers (IPPs) will shut down their thermal plant by the end of this month if government fails to honour its debt obligation which is running into over US$1.4 billion. This will consequently lead to power rationing if the planned shut down of the plants goes ahead. According to a notice to the Energy Minister, sighted by Joy Business, the IPPs warned that the shutdown is as a result of the members’ difficult cash flow position as they have not received enough payment to honour their gas bill and other financial obligations.
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The Investingh team put together a Financial Planning Template to help you plan your budget, retirement, child’s fees, weddings, buying a car, land acquisition etc. Follow this link to download: http://eepurl.com/gb8arv
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6981 Sell 5.7039
GB£GH¢ Buy 7.2452 Sell 7.2530
AUD$GH¢ Buy 4.0037 Sell 4.0087
CAD$GH¢ Buy 4.2519 Sell 4.2557
JP¥GH¢ Buy 0.0540 Sell 0.0541
ZARGH¢ Buy 0.3346 Sell 0.3349
EU€GH¢ Buy 6.6348 Sell 6.6407
CHN¥GH¢ Buy 0.8345 Sell 0.8350
GH¢CFA Buy 98.7783 Sell 98.8661
GH¢NG₦ Buy 67.0935 Sell 67.3566
CRYPTOCURRENCY MARKET
Bitcoin $10,691.53 🔼3.73%
Ethereum $346.52 🔼6.82%
Ripple $0.232658 🔼4.07%
Polkadot $4.34 🔼7.11%
Bitcoin Cash $214.31 🔼2.32%
Chainlink $9.84 🔼7.11%
Bitcoin SV $154.32 🔼2.46%
Litecoin $44.63 🔼2.38%
Cardano $0.086056 🔼11.48%
Binance Coin $24.63 🔼6.58%
EOS $2.53 🔼2.71%
💵Bloomberg USDGHS Cross Rate – 5.7881 (YTD – ⬆️ +1.35%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
SCB +0.15% ➡Gh¢13.55
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
ETI -14.29% ➡Gh¢0.06
〽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 13.5322% Interest Rate 14.0060%
182 – Day Discount Rate 13.1903% Interest Rate 14.1216%
364 – Day Discount Rate 14.5201% Interest Rate 16.9866%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.7500%
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¢4.85 (🔼+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🚂⛽ 26,815.44 +52.31 +0.20%
*S&P 500 🏦 3,246.59 +9.67 +0.30%
*Nasdaq Index📲💻 10,672.27 +39.28 +0.37%
- NYSE Composite Index 12,365.55 +6.39 +0.05%
*London FTSE 100 5,822.78 -76.48 -1.30%
*Germany DAX 12,606.57 -36.40 -0.29%
*Japan NIKKEI 225 23,087.82 -258.67 -1.11%
*Hong Kong HANG SENG 23,311.07 -431.44 -1.82%
*Shanghai Shenzhen 300 4,563.07 -89.26 -1.92%
*S&P/ASX 200 Index 5,875.94 -47.98 -0.81%
*Bloomsberg EU 500 235.12 -2.40 -1.01%
*MOEX Russia Index 2,912.76 -3.63 -0.12%
*FTSE/JSE South Africa Top40 50,127.05 +1,000.89 +2.04%
*Nairobi SE 20 Share 1,832.00 -8.68 -0.47%
*Nigeria SE Main-Board Index 25,987.14 +204.12 +0.79%
*GSE Composite Index 1834.47 -6.91 (-0.38%)
*GSE Financial Index 1656.71 -12.58 (-0.75%)
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,834.47 🔻-18.73%
*GSE Financial Index 1,656.71 🔻-17.97%
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Invest in Gh brings another intriguing webinar to you on September 26, 2020 @ 14:00GMT. Dr. Kenneth Donkor-Hyiaman (Real Estate Finance & Economics Lecturer, KNUST) and Surveyor Nana Yaw Osei-Owusu (Syndicated Green Developers) will speak on the topic “Cost of Building a House in Ghana”. Visit www.investingh.info to register for free.
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💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-5.17%
EPAcK 🔻-16.78%
Republic Equity 🔻-1.01%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+0.77%
CCMF 🔼+12.06%
CM Fund 🔼+10.54%
CDH Balanced 🔻-2.48%
Dalex Vision 🔼+9.58%
EdiFund T2 🔼+5.54%
EDC Balanced 🔻-5.01%
Fidelity Balanced Trust 🔼+5.81%
Republic F Plan 🔼+1.42%
Plus Balanced Fund 🔼+9.74%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+11.22%
Fidelity Fixed Income Trust 🔼+13.01%
Fixed Income Alpha Plus 🔼+16.24%
Plus Income Fund 🔼+12.49%
STANLIB Income 🔼+12.79%
Mfund 🔼+12.56%
MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+11.37%
NGIS Mfund 🔼+9.97%
Republic Unit 🔼+7.50%
SEM MoneyPlus 🔼+9.52%
STANLIB Cash 🔼+12.28%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $41.94 +0.17 +0.41%
*Natural Gas 🏭 $/million BTUS $2.19 -0.05 -2.40%
*Gold 👑 $/troy ounce $1,873.70 -3.20 -0.17%
*Silver 💍 $/troy ounce $23.27 +0.07 +0.30%
*Corn 🌽 $/bushel $363.50 -5.00 -1.36%
*Cocoa 🍫 $/metric ton $2,599.00 +19.00 +0.74%
*Coffee ☕ ¢/pound $111.15 +0.65 +0.59%
*Sugar🎂 ¢/pound $13.37 +0.04 +0.30%
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