BUSINESS NEWS | GHANA AND BEYOND 🌍 01/07/2020
🚩In spite of the annihilative impact of the coronavirus pandemic on the country’s local currency, making it record, its highest depreciation against the US dollar since the beginning of the year, the Bank of Ghana (BoG) says it expects the cedi to gain stability as pressure on it has started easing. After hitting its ‘hattrick’ by appreciating against the US dollar for the first quarter of the year, the cedi started losing grip on the dollar after the pandemic triggered capital flight to safety from emerging and developing economies. As of the end of April, the cedi had depreciated by 1.21 percent against the US dollar; depreciated 1.55 percent at the end of May; and further depreciated by 2.38 percent as of June 29, 2020, its sharpest depreciation in the year (using BoG mid-rate figures).
🚩The Chief Executive Officer of VW Ghana , Mr. Jeffrey Oppong Peprah has revealed that the company has commenced commercial production under a registered local company VW Ghana and is currently producing five Volkswagen models in its Accra plant. These brands include Tiguan, Amarok Pickup, Passat, Polo and Teramont. He said this when he accompanied the Minister of Trade Alan kyeremateng to tour the VW Assembly plant in Accra on Monday. The CEO informed the Minister that the company is planning the grand launching of Volkswagen car models made in Ghana soon. Mr Kyerematen used the visit to present the Bonafide Vehicle Assembler Certificate to VW Ghana.
🚩The Ministry of Food and Agriculture (MoFA) and the Ministry of Local Government and Rural Development have launched a GH¢2.5 million pilot support to women’s farmer-based organizations (WFBOs) engaged in post-production agricultural operations in Ghana. The pilot support comes from the Global Affairs Canada’s Modernizing Agriculture in Ghana (MAG) programme aimed at strengthening the capacities of the WFBOs to make their products more competitive and attractive for the local and export markets. Accordingly, the GH¢2.5 million scheme is in line with Canada’s Feminist International Assistance Policy (FIAP). FIAP seeks to empower women to eradicate poverty and build a more peaceful, more inclusive and more prosperous world.
🚩Between October 2019 and May 2020, new import-restrictive measures unrelated to the COVID-19 pandemic covered an estimated US$417.5 billion worth of merchandise trade, the third-highest figure recorded since May 2012, the World Trade Organisation (WTO) has said. Tariff increases, import bans, stricter customs procedures, export duties and other such measures introduced during the review period affected 2.8 percent of G20 trade. Meanwhile, the stock of import-restrictive measures implemented since 2009 and still in force continues to grow — now affecting an estimated 10.3 percent of G20 imports (USD 1.6 trillion). However, the WTO report also finds evidence of steps towards more open trade policies across sectors, including goods, services and intellectual property.
🚩Green Gold Farms Ghana, an Accra-based agribusiness, has secured lands at Sekpe, in the Mion Districts in the Northern Region for soybean production. The a 50-year lease of 40,000 acres of land released by the chief and traditional leaders of Sekpe at an estimated value of US$20 million is to ensure the cultivation of soybeans for local consumption and export, which will create jobs and enhance the livelihoods of the farmers. The project is expected to commence with the production of 5,000 metric tons of non-GMO soybean crop, in an off-take agreement with ARASA Investment Ltd, a subsidiary of Turkey based organisation TIRYAKI AGRO, one of the largest processors of agro commodities in the world.
➖➖➖➖➖➖➖➖➖
Secure your Tomorrow with MY OWN PENSION on your MTN Mobile Money and make contributions that you can rely upon tomorrow. To Register, Simply dial *170#, select Option 5 (Financial Services) and select Option 4 (Pensions and Investments) to Begin
➖➖➖➖➖➖➖➖➖
The Investingh team put together a Financial Planning Template to help you plan your budget, retirement, child’s fees, weddings, buying a car, land acquisition etc. Follow this link to download: http://eepurl.com/gb8arv
➖➖➖➖➖➖➖➖➖
✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6646 Sell 5.6702
GB£GH¢ Buy 6.9991 Sell 7.0084
CAD$GH¢ Buy 4.1577 Sell 4.1620
JP¥GH¢ Buy 0.0526 Sell 0.0526
ZARGH¢ Buy 0.3258 Sell 0.3262
EU€GH¢ Buy 6.3577 Sell 6.3649
CHN¥GH¢ Buy 0.8020 Sell 0.8023
GH¢CFA Buy 103.0585 Sell 103.1752
GH¢NG₦ Buy 63.6094 Sell 63.6976
CRYPTOCURRENCY MARKET
Bitcoin $9,134.12 🔻-0.21%
Ethereum $226.28 🔻-0.61%
Tether $0.998746 🔻-0.32%
Ripple $0.176161 🔼+0.75%
Bitcoin Cash $223.49 🔻-0.16%
Binance Coin $15.42 🔻-0.30%
Litecoin $41.69 🔻-0.44%
EOS $2.36 🔼+0.02%
Cardano $0.083666 🔼+0.45%
💵Bloomberg USDGHS Cross Rate – 5.7845
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
MTNGH +5.36% ➡Gh¢0.59
GOIL +2.58% ➡Gh¢1.59
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
FML -10.00% ➡Gh¢1.80
CAL -3.95% ➡Gh¢0.73
〽Inflation rate in Ghana ➡ 11.30% (+6.60%)
🏦Ghana Reference Rate ➡ 14.80% (-9.50%)
✳Policy Rate in Ghana ➡ 14.50% (+0.20%)
¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.4823% Interest Rate 13.9526%
182 – Day Discount Rate 13.0972% Interest Rate 14.0149%
364 – Day Discount Rate 14.4523% Interest Rate 16.8938%
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¢4.65 (🔻-16.13%)
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 -56.31% ➡Gh¢1.80
IIL -40.00% ➡Gh¢0.03
GCB -33.33% ➡Gh¢3.40
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,812.88 +217.08 +0.85%
*S&P 500 🏦 3,100.29 +47.05 +1.54%
*Nasdaq Index📲💻 10,058.77 +184.61 +1.87%
- NYSE Composite Index 11,893.78 +116.70 +0.99%
*London FTSE 100 6,169.74 -56.03 -0.90%
*Germany DAX 12,310.93 +78.81 +0.64%
*Japan NIKKEI 225 22,288.14 +293.10 +1.33%
*Hong Kong HANG SENG 24,427.19 +125.91 +0.52%
*Shanghai Shenzhen 300 4,163.96 +54.24 +1.32%
*S&P/ASX 200 Index 5,897.88 +82.85 +1.42%
*Bloomsberg EU 500 238.83 +0.29 +0.12%
*FTSE/JSE South Africa Top40 50,174.95 +254.86 +0.51%
*Nairobi SE 20 Share 1,942.12 -10.14 -0.52%
*Nigeria SE Main-Board Index 24,479.16 -379.66 -1.53%
*GSE Composite Index 1899.90 33.00 +1.77%
*GSE Financial Index 1725.04 -3.34 -0.19%
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,899.90 🔻-15.83%
*GSE Financial Index 1,725.04 🔻-14.59%
💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.56%
EPAcK 🔻-16.91%
Republic Equity 🔻-2.54%
SAS Fortune 🔻-3.42%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-1.47%
CCMF 🔼+7.92%
Dalex Vision 🔼+6.69%
CM Fund 🔼+6.37%
EDC Balanced 🔻-5.25%
EdiFund T2 🔼+2.35%
Fidelity Balanced Trust 🔼+3.30%
Plus Balanced Fund 🔼+6.17%
UMB Balanced 🔼+4.27%
Republic F Plan 🔻-0.21%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+7.45%
Fidelity Fixed Income Trust 🔼+8.02%
Plus Income Fund 🔼+8.47%
Fixed Income Alpha Plus 🔼+10.83%
SEM Income 🔼+7.33%
TTL IncomeHaven 🔻-0.22%
STANLIB Income 🔼+8.73%
🏦MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+7.21%
Mfund 🔼+7.93%
Gold Money 🔼+7.50%
NGIS Mfund 🔼+7.91%
Republic Unit 🔼+4.95%
SEM MoneyPlus 🔼+6.46%
STANLIB Cash 🔼+8.05%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $41.15 -0.56 -1.34%
*Natural Gas 🏭 $/million BTUS $1.71 +0.00 +0.12%
*Gold 👑 $/troy ounce $1,798.30 -2.20 -0.12%
*Silver 💍 $/troy ounce $18.57 -0.07 -0.36%
*Corn 🌽 $/bushel $341.50 +12.75 +3.88%
*Cocoa 🍫 $/metric ton $2,186.00 -52.00 -2.32%
*Coffee ☕ ¢/pound $101.00 +0.90 +0.90%
*Sugar🎂 ¢/pound $11.96 +0.19 +1.61%
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