🚩The Bank of Ghana has since the turn of the year committed at least US$525 million in its forex forward auctions introduced last year as part of reforms to bring stability to the local currency. Bids submitted during the year amounted to US$1.32bn out of which the central bank accepted US$525 million — which represents about 73 percent of the total targeted amount for the year. The bids submitted were for the 7-day, 15-day, 30-day, and 45 -day tenors as well as the 60-day and 75-day tenors. In total, 1,623 bids were submitted but the BoG accepted only 692 out of the total. The demand for Forex was highest in the month of May, 2020, as a total of 228 bids were submitted.
🚩The Bank of Ghana (BoG) has noted in its Financial Review Report for 2019 that total financial system assets expanded in the period under review. The assets of the financial system increased to GH¢186.11 billion at end-December, 2019 from GH¢168.42 billion at end-December, 2018. The improvement in the asset of the financial system was on the back of expansions in the banking, insurance, and pension sectors. In the securities sector, a ban on guaranteed investment products and resolutions targeted at sanitising the sector, led to a drop in managed funds (excluding pension funds). In the medium-to-long term however, these initiatives together with plans to recapitalise the securities sector are expected to bolster growth.
🚩GhanaWeb , Ghana’s biggest news platform and Tonaton, Ghana’s biggest online marketplace have signed an exclusive cooperative partnership agreement to lead and improve Ghana’s online marketplace with engaging content. This partnership follows nearly two years of commercial cooperation between both companies resulting in a positive synergy that strengthened the customer experience journey of their visitors. GhanaWeb and Tonaton agreed to integrate their content and offering respectively to allow their visitors to orient themselves in specific categories of interest on GhanaWeb to eventually buy and sell items or apply for jobs simultaneously on Tonaton.
🚩Cenpower Generation Company Limited (Cenpower) has committed to switching its primary fuel from light crude oil (LCO) to natural gas and signed a gas supply agreement (GSA) with the Ghana National Petroleum Corporation (GNPC). Gas operations are expected to begin by the end of this week.
Government welcomes this significant milestone and commitment from Cenpower. The GSA is a key part of the proposal put forward by government during negotiations with Cenpower and will deliver substantial cost savings, estimated at US$3 billion over the remaining term of the Cenpower PPA. Furthermore, the says conversion to natural gas will have important environmental benefits, as emissions will be lowered and Ghana’s abundant natural gas resources effectively utilised for the benefit of the Ghanaians and the business community.
🚩Guinness Ghana, a Diageo PLC Group company has appointed Helene Weesie as its new Managing Director (MD) with immediate effect. Helene joins Guinness Ghana with a wealth of international experience within Diageo globally and within the fast-moving consumer goods sector. Her knowledge and expertise cut across sales, marketing and general management; having held a number of roles both within Diageo and outside with peer companies in our sector. Until recently, Helene was the Managing Director of Diageo’s Central Europe Cluster of countries and prior to that she led Serengeti Breweries, Diageo’s Tanzanian brewer. Helene Weesie replaces Gavin Pike who has now been appointed as Managing Director of Diageo South Africa. Helene will also now join the Guinness Ghana Board.
🚩Dalex SWIFT is allowing customers to determine what interest rates they want to earn on their investments from October 5, 2020. Dalex SWIFT is a leading fully digital investment product that provides clients with a credible, convenient, and competitive path to a better life with over 134,000 registered users. Since its inception, SWIFT has given clients a compound interest rate of 15% per annum. From Monday, customers can increase their investment balance to enjoy much higher rates. Clients with an investment balance of between GH¢3,000 and GH¢7,000 will enjoy a rate of 16% per annum compounded. Customers with an investment balance of more than ¢7,000 will enjoy an even higher rate of 17% per annum compounded. All existing customers whose investment deposits already fall within these categories will be automatically upgraded to the new rates.
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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. To Register, Simply dial *170#, select Option 5 (Financial Services) and select Option 4 (Pensions and Investments) to Begin
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You probably don’t want to work forever so it’s very likely that you’ll need an income for you to enjoy your retirement. Get to know all about Pensions and Get insight into the Success Story of My Own Pension in our next Public Forum on 15th October 2020 at 16:00 GMT. Visit www.investingh.info to register for free.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6998 Sell 5.7056
GB£GH¢ Buy 7.3653 Sell 7.3733
AUD$GH¢ Buy 4.0723 Sell 4.0774
CAD$GH¢ Buy 4.2939 Sell 4.2978
JP¥GH¢ Buy 0.0538 Sell 0.0538
ZARGH¢ Buy 0.3420 Sell 0.3423
EU€GH¢ Buy 6.7086 Sell 6.7146
CHN¥GH¢ Buy 0.8396 Sell 0.8403
GH¢CFA Buy 97.6912 Sell 97.7785
GH¢NG₦ Buy 67.4154 Sell 67.6381
CRYPTOCURRENCY MARKET
Bitcoin $10,657.93 🔼1.19%
Ethereum $340.74 🔼0.71%
Ripple $0.248108 🔼2.1%
Polkadot $3.80 🔼1.98%
Bitcoin Cash $222.62 🔼1.91%
Chainlink $8.90 🔼2.06%
Bitcoin SV $162.93 🔼2.75%
Litecoin $46.59 🔼1.41%
Cardano $0.093419 🔼1.48%
Binance Coin $27.87 🔼2.5%
EOS $2.64 🔼1.4%
💵Bloomberg USDGHS Cross Rate – 5.8028 (YTD – ⬆️ +1.61%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
SCB +7.14% ➡Gh¢15.00
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today
〽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 13.5696% Interest Rate 14.0461%
182 – Day Discount Rate 13.2051% Interest Rate 14.1386%
364 – Day Discount Rate 14.5156% Interest Rate 16.9804%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 18.5000%
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¢4.77 (🔻-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 -74.51% ➡Gh¢1.05
UNIL -43.84% ➡Gh¢9.21
GGBL -40.83% ➡Gh¢1.00
GCB -27.45% ➡Gh¢3.70
RBGH -26.79% ➡Gh¢0.41
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 28,303.46 +530.70 +1.91%
*S&P 500 🏦 3,419.45 +58.50 +1.74%
*Nasdaq Index📲💻 11,364.60 +209.99 +1.88%
- NYSE Composite Index 13,042.33 +204.45 +1.59%
*London FTSE 100 5,946.25 -3.69 -0.06%
*Germany DAX 12,928.57 +22.55 +0.17%
*Japan NIKKEI 225 23,422.82 -10.91 -0.05%
*Hong Kong HANG SENG 24,242.86 +262.21 +1.09%
*Shanghai Shenzhen 300 4,587.40 -4.40 -0.10%
*S&P/ASX 200 Index 5,946.25 -3.69 -0.06%
*Bloomsberg EU 500 241.54 -0.29 -0.12%
*MOEX Russia Index 2,842.58 -50.41 -1.74%
*FTSE/JSE South Africa Top40 50,412.19 +542.83 +1.09%
*Nairobi SE 20 Share 1,836.09 -6.59 -0.36%
*Nigeria SE Main-Board Index 28,634.35 -275.02 -0.95%
*GSE Composite Index 1,852.62 +12.83 +0.70%
*GSE Financial Index 1700.50 +23.39 +1.39%
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,839.79 🔻-18.49%
*GSE Financial Index 1,700.50 🔻-15.80%
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Get to know all about Pensions and Get insight into the Success Story of My Own Pension in our Public Forum on 15th October 2020 at 16:00 GMT. Visit www.investingh.info to register for free.
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💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-5.01%
EPAcK 🔻-15.66%
Republic Equity 🔻-1.03%
SAS Fortune 🔻-5.00%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+1.86%
CCMF 🔼+12.43%
CDH Balanced 🔻-2.33%
CM Fund 🔼+11.14%
Dalex Vision 🔼+9.99%
EDC Balanced 🔻-3.40%
EdiFund T2 🔼+6.66%
Fidelity Balanced Trust 🔼+6.10%
Plus Balanced Fund 🔼+10.40%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+11.82%
Fixed Income Alpha Plus Fund 🔼+17.12%
Fidelity Fixed Income Trust 🔼+13.69%
NIMED Fixed Income Fund Tier 1 🔼+3.69%
Plus Income Fund 🔼+13.42%
STANLIB Income 🔼+13.49%
Mfund 🔼+13.37%
MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+12.13%
NGIS Mfund 🔼+11.25%
Republic Unit 🔼+7.66%
STANLIB Cash 🔼+12.89%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $42.19 -0.46 -1.08%
*Natural Gas 🏭 $/million BTUS $2.59 +0.07 +2.94%
*Gold 👑 $/troy ounce $1,890.50 -18.30 -0.96%
*Silver 💍 $/troy ounce $23.93 +0.00 +0.02%
*Corn 🌽 $/bushel $389.25 +4.25 +1.10%
*Cocoa 🍫 $/metric ton $2,452.00 +15.00 +0.62%
*Coffee ☕ ¢/pound $109.60 +1.95 +1.81%
*Sugar🎂 ¢/pound $14.14 +0.26 +1.87%
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