🚩Ghana’s Non-Traditional Exports (NTEs) have yielded US$2.9 billion in revenue for the year 2019, a report by the Ghana Export Promotion Authority (GEPA) has shown. The report, which was launched at GEPA’s newly opened Ashanti zonal office in Danyame, Kumasi, showed the NTEs grew 3.1 percent over the 2018 revenue of US$2.8 billion. However, national export grew by 8.5 percent over 2018 compared to a slower rate in NTEs for the same period. Highlights of the 2019 report presented by Deputy Chief Executive Officer in charge of Operations & Finance at GEPA, Samuel Dentu, also showed that the top ten products that contributed 57 percent of NTEs earnings were in the manufacturing sector.
🚩The University for Development Studies (UDS) has collaborated with the United Kingdom (UK) and Economic Commission of West African Studies (ECOWAS) to develop a project that will help establish a food systems and export network for peasant farmers to help boost agricultural business in the sub-region. The six-month project, dubbed Ghana-ECOWAS Food Systems and Export Network (UKEFSEN), targeting smallholder farmers is to create market opportunities and also enable them to own 40% of the market for home-grown food crops.
🚩An indigenous firm, SunPower Innovations, has said it is ready to partner the government to produce and deliver solar energy to businesses and communities in Ghana. According to the founder and the Chief Executive Officer, Ernest Amissah, it is time for the government and other development funding institutions to partner indigenous companies like SunPower Innovations to expand their operations, a situation he believes will lead to enormous job creation. Speaking at the opening ceremony of a one-megawatt off-grid solar system for Special Ice Factory manufactured by indigenous firm SunPower Innovations, Mr. Amissah said the “government wants to do 1D1F, but I ask myself, everybody is saying we are over generating.
🚩The Energy Minister says there are plans to explore how best government can benefit from renewable energy and go-ahead to export to neighbouring countries. Energy experts have often called on relevant government agencies to consider making power production attractive for export and they believe Ghana must innovate and make its renewable energy attractive for neighbouring countries. Although this form of energy is expensive, Representative from the Energy Ministry, Wisdom Ahiataku-Togoboare tells Citi Business News his outfit is looking at available options and opportunities.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6793 Sell 5.6849
GB£GH¢ Buy 7.5125 Sell 7.5212
AUD$GH¢ Buy 4.1056 Sell 4.1111
CAD$GH¢ Buy 4.3091 Sell 4.3136
JP¥GH¢ Buy 0.0539 Sell 0.0539
ZARGH¢ Buy 0.3281 Sell 0.3284
EU€GH¢ Buy 6.7784 Sell 6.7856
CHN¥GH¢ Buy 0.8209 Sell 0.8213
GH¢CFA Buy 96.6690 Sell 96.7717
GH¢NG₦ Buy 67.4047 Sell 67.5806
CRYPTOCURRENCY MARKET
Bitcoin $12,067.65 🔻-1.77%
Ethereum $426.40 🔻-1.97%
Ripple $0.304912 🔻-4.28%
Bitcoin Cash $307.30 🔻-4.04%
Chainlink $16.56 🔻-8.60%
Bitcoin SV $219.43 🔻-3.21%
Litecoin $66.56 🔻-1.55%
Cardano $0.138224 🔻-2.31%
Binance Coin $23.30 🔻-1.68%
EOS $3.64 🔻-4.35%
Stellar $0.109778 🔻-4.29%
💵Bloomberg USDGHS Cross Rate – 5.7587 (YTD – ⬆️ +0.84%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
SOGEGH +1.61% ➡Gh¢0.63
GCB +0.26% ➡Gh¢3.81
🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
GGBL -7.41% ➡Gh¢1.00
GOIL -1.26% ➡Gh¢1.57
EGL -0.70% ➡Gh¢1.41
〽Inflation rate in Ghana ➡ 11.40% (+1.79%)
🏦Ghana Reference Rate ➡ 14.75% (-0.34%)
✳Policy Rate in Ghana ➡ 14.50% (-9.38%)
¶ TREASURY RATES💸
91 – Day Discount Rate 13.1816% Interest Rate 14.0045%
182 – Day Discount Rate 13.5307% Interest Rate 14.1117%
364 – Day Discount Rate 14.4088% Interest Rate 16.8345%
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%
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
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 -63.59% ➡Gh¢1.50
GGBL -40.83% ➡Gh¢1.00
RBGH -28.57% ➡Gh¢0.40
CAL -26.97% ➡Gh¢0.65
GCB -25.29% ➡Gh¢3.81
🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 27,778.07 -66.84 -0.24%
*S&P 500 🏦 3,389.78 +7.79 +0.23%
*Nasdaq Index📲💻 11,210.84 +81.12 +0.73%
- NYSE Composite Index 12,881.76 -38.90 -0.30%
*London FTSE 100 6,076.62 -50.82 -0.83%
*Germany DAX 12,910.33 -25.78 -0.20%
*Japan NIKKEI 225 23,051.08 -45.67 -0.20%
*Hong Kong HANG SENG 25,367.38 +20.04 +0.08%
*Shanghai Shenzhen 300 4,812.76 -2.47 -0.05%
*S&P/ASX 200 Index 6,123.36 +46.98 +0.77%
*Bloomsberg EU 500 242.54 -1.43 -0.59%
*MOEX Russia Index 3,050.70 -1.76 -0.06%
*FTSE/JSE South Africa Top40 52,738.12 -402.09 -0.76%
*Nairobi SE 20 Share 1,729.46 -8.97 -0.52%
*Nigeria SE Main-Board Index 25,136.49 -7.19 -0.03%
*GSE Composite Index 1870.50 -2.35 (-0.13%)
*GSE Financial Index 1726.64 1.43 (+0.08%)
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,870.50 🔻-17.13%
*GSE Financial Index 1,726.64 🔻-14.23%
💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-4.20%
EPAcK 🔻-17.10%
Republic Equity 🔻-1.37%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+0.18%
Dalex Vision 🔼+8.39%
EDC Balanced 🔻-4.80%
EdiFund T2 🔼+3.97%
Fidelity Balanced Trust 🔼+4.37%
Plus Balanced Fund 🔼+8.32%
Republic F Plan 🔼+1.22%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+9.66%
Fidelity Fixed Income Trust 🔼+11.07%
STANLIB Income 🔼+11.10%
MONEY MARKET FUNDS ⏱YTD%
Mfund 🔼+10.41%
STANLIB Income 🔼+11.10%
NGIS Mfund 🔼+9.16%
Republic Unit 🔼+6.54%
STANLIB Cash 🔼+10.69%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $45.46 +0.09 +0.20%
*Natural Gas 🏭 $/million BTUS $2.42 +0.00 +0.17%
*Gold 👑 $/troy ounce $2,013.60 +0.50 +0.02%
*Silver 💍 $/troy ounce $28.10 -0.15 -0.52%
*Corn 🌽 $/bushel $341.75 -3.00 -0.87%
*Cocoa 🍫 $/metric ton $2,445.00 +16.00 +0.66%
*Coffee ☕ ¢/pound $121.05 +3.60 +3.07%
*Sugar🎂 ¢/pound $12.89 -0.17 -1.30%
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