🚩Parliament has approved a US$200 million financing agreement between the Government of Ghana and the International Development Association (IDA) to finance the Ghana Jobs and Skills Project (GJSP). The project, which is being financed with credit from the IDA would be implemented over a six-year period and is expected to close on 30th June, 2026. The terms and conditions of the credit facility include the loan amount of US$200 million, Repayment period of 25 years, grace period of five years, maturity period of 30 years and interest charge of 1.35 percent per annum. There is commitment charge of 0.5 percent per annum, Service charge of 1.29 percent per annum and concessionality rate of 26.22 per cent.
🚩The Institute for Energy Security (IES) has noted that figures collated by its economic indicate that the cedis appreciated against the US Dollar by 0.35 percent. This, according to the IES, affected crude oil prices to remain fairly stable over the period. Raymond Nuwokoor, Research and Policy Analysts at the IES said in a statement that Prices of Petroleum products remained largely stabled in pricing window under review against expected increase Based on markets valuables. Majority of the oil marketing companies (OMCs) including Market leader Goil maintained the prices of Gasoline and gasoil within the period. As a result the average national price per litre stands at GH¢4.80 for both gasoline and gasoil.
🚩AngloGold Ashanti has announced that Kelvin Dushnisky will step down as chief executive officer (CEO), effective September 1, 2020. The Board thanked him for his contribution in delivering on its strategy and wishes him well in the future. A statement said Kelvin will remain in Toronto to spend time with his family but will be available to assist the group with a smooth handover until 28 February 2021. “I would like to thank Kelvin for his role in advancing our strategy, and wish him the very best for the future,” AngloGold Ashanti Chairman Sipho Pityana said. “AngloGold Ashanti is well positioned to further improve returns for shareholders, through improved operational performance and our rigorous approach to capital allocation.”
🚩OPEC’s oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members made limited progress on compliance. The 13-member Organization of the Petroleum Exporting Countries pumped 23.32 million bpd on average in June, the survey found, up 970,000 bpd from June’s revised figure, which was the lowest since 1991.OPEC and allies agreed in April to a record output cut as the coronavirus crisis hammered demand. An easing of lockdowns and lower supply have helped oil LCOc1 climb above $40 from April’s 21-year low of below $16 a barrel, although concerns of a second wave are keeping a lid on gains.
🚩Prices of Petroleum Products at the pumps are expected to remain stable in the coming days owing to the relative stability of the cedi against its major trading currencies. That’s the position of the Institute of Energy Security (IES). According to the Energy Think Tank, by virtue of relative stability in prices of Brent crude, Gasoline and Gasoil on the International Market finds prices of fuel on the local Market remaining largely fixed. Mr Raymond Nuwokpor, a Research and Policy Analyst at IES, said in a statement that prices of petroleum products remained largely stable in the pricing window under review against expected increases based on market valuables. The majority of the oil marketing companies (OMCs) including market leader Goil, maintained the prices of gasoline and gasoil within the period.
🚩Lifeline customers on both prepaid and postpaid metering systems will realise their relief of the government’s 100 percent absorption of electricity bills effective August 2020, the Electricity Company of Ghana (ECG) has announced. It follows President Nana Addo Dankwa Akufo-Addo’s announcement that the government will absorb the full bills of lifeline residential customers from July to December 2020. This is part of the government’s efforts to minimise the effect of the outbreak of COVID-19 on the citizenry and the economy. A statement signed by the Managing Director of ECG, Mr Kwame Agyeman-Budu, on Friday, 31 July 2020, outlining the implementation guidelines for the relief, the state power distributor indicated that the relief will be realised by customers between August 2020 to January 2021.
🚩Oil prices rose on Friday and were on track for monthly gains, benefiting from news that U.S. oil output cuts in May were the largest on record. Brent crude settled up 37 cents, or 0.9%, at $43.31 a barrel. U.S. crude was up 35 cents, or 0.9%, at $40.27 after dropping 3.3% in the previous session, also off lows not seen since July 10. Brent crude posted a fourth month of gains and U.S. crude posted a third as both rise from depths hit in April, when much of the world was in lockdown due to the coronavirus pandemic. U.S. crude oil production plummeted in May, falling a record 2 million barrels per day to 10 million bpd, the U.S. Energy Information Administration said in a monthly report on Friday.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6755 Sell 5.6811
GB£GH¢ Buy 7.3588 Sell 7.3673
AUD$GH¢ Buy 4.0665 Sell 4.0741
CAD$GH¢ Buy 4.2448 Sell 4.2490
JP¥GH¢ Buy 0.0541 Sell 0.0541
ZARGH¢ Buy 0.3432 Sell 0.3436
EU€GH¢ Buy 6.6813 Sell 6.6860
CHN¥GH¢ Buy 0.8104 Sell 0.8113
GH¢CFA Buy 98.1090 Sell 98.1780
GH¢NG₦ Buy 67.0095 Sell 67.0975
CRYPTOCURRENCY MARKET
Bitcoin $11,129.54 🔼5.20%
Ethereum $378.73 🔼1.27%
Ripple $0.292040 🔼0.57%
Bitcoin Cash $286.93 🔼9.69%
Bitcoin SV $219.27 🔼9.46%
Binance Coin $19.45 🔼1.77%
Litecoin $57.31 🔼6.22%
EOS $2.98 🔼8.99%
Cardano $0.134282 🔼6.68%
Stellar $0.103958 🔼2.17%
💵Bloomberg USDGHS Cross Rate – 5.7611
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today
〽Inflation rate in Ghana ➡ 11.20% (-0.88%)
🏦Ghana Reference Rate ➡ 14.75% (-0.34%)
✳Policy Rate in Ghana ➡ 14.50% (-9.38%)
¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 13.5203% Interest Rate 13.9933%
182 – Day Discount Rate 13.1295% Interest Rate 14.0520%
364 – Day Discount Rate 14.3977% Interest Rate 16.8194%
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 19.5000%
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
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 -59.95% ➡Gh¢1.65
GGBL -28.99% ➡Gh¢1.20
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -25.49% ➡Gh¢3.80
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,428.32 +114.67 +0.44%
*S&P 500 🏦 3,271.12 +24.90 +0.77%
*Nasdaq Index📲💻 10,745.27 +157.46 +1.49%
- NYSE Composite Index 12,465.05 -68.23 -0.54%
*London FTSE 100 5,897.76 -92.23 -1.54%
*Germany DAX 12,313.36 -66.29 -0.54%
*Japan NIKKEI 225 21,710.00 -629.23 -2.82%
*Hong Kong HANG SENG 24,595.35 -115.24 -0.47%
*Shanghai Shenzhen 300 4,695.05 +38.90 +0.84%
*S&P/ASX 200 Index 5,927.78 -123.30 -2.04%
*Bloomsberg EU 500 235.93 -2.27 -0.95%
*FTSE/JSE South Africa Top40 51,368.82 -82.62 -0.16%
*Nairobi SE 20 Share 1,804.10 -7.19 -0.40%
*Nigeria SE Main-Board Index 24,693.73 +43.57 +0.18%
*GSE Composite Index 1877.64 0.00 0.00%
*GSE Financial Index 1730.78 0.00 0.00%
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,877.64 🔻-16.81%
*GSE Financial Index 1,730.78 🔻-14.30%
💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-3.85%
EPAcK 🔻-17.22%
NTHC Horizon 🔻-0.25%
Republic Equity 🔻-1.51%
SAS Fortune 🔻-6.96%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔻-0.44%
CCMF 🔼+9.16%
CDH Balanced 🔻-2.14%
CM Fund 🔼+7.04%
Dalex Vision 🔼+7.80%
EDC Balanced 🔻-4.70%
EdiFund T2 🔼+3.43%
Fidelity Balanced Trust 🔼+3.69%
Kiddifund 🔼+0.30%
Plus Balanced Fund 🔼+7.58%
UMB Balanced 🔼+5.31%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+8.91%
Fidelity Fixed Income Trust 🔼+10.29%
Fixed Income Alpha Plus 🔼+12.87%
Plus Income Fund 🔼+9.97%
SEM Income 🔼+9.05%
STANLIB Income 🔼+10.35%
🏦MONEY MARKET FUNDS ⏱YTD%
Mfund 🔼+9.40%
EdiFund T1 🔼+8.59%
NGIS Mfund 🔼+8.82%
Republic Unit 🔼+6.14%
SEM MoneyPlus 🔼+7.77%
STANLIB Cash 🔼+10.02%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $43.52 +0.27 +0.62%
*Natural Gas 🏭 $/million BTUS $1.80 -0.03 -1.64%
*Gold 👑 $/troy ounce $1,985.90 +19.10 +0.97%
*Silver 💍 $/troy ounce $24.22 +0.85 +3.66%
*Corn 🌽 $/bushel $327.00 +0.25 +0.08%
*Cocoa 🍫 $/metric ton $2,400.00 +56.00 +2.39%
*Coffee ☕ ¢/pound $118.95 +3.60 +3.12%
*Sugar🎂 ¢/pound $12.64 +0.53 +4.38%
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