🚩Ghana Government and CENIT have agreed to an amended power purchase agreement under which the company has decided to move to a tolling structure and to transfer all resulting cost savings to the Electricity Company of Ghana (ECG). CENIT, a Ghanaian independent power producer (IPP) that began commercial operations in 2012, also agreed to reduce its capital recovery tariff by 38.9 percent. The deal is expected to save the country more than US$200 million. A statement issued by the Public Relations Unit of the Ministry of Finance said the commitment made by CEL was crucial in reinforcing the Government’s efforts to build a balanced and sustainable energy sector.
🚩The Cocoa Marketing Company (CMC), Ghana Shippers’ Authority (GSA), and the shipping lines ferrying Ghana’s cocoa beans to the international market have agreed to maintain their cocoa freight charges for the 2020/2021 cocoa season. As a result, the rate for shipment per tonne to the United Kingdom (UK) had been maintained at £30, the Northern Continent at €49, Estonia at €56, Mediterranean Europe at €55, the Far East at $89/94, and Brazil at $103. Ms Benonita Bismarck, the Chief Executive Officer (CEO) of GSA, announced this in Accra at the end of the Cocoa Freight Negotiation Conference. She said the new rates were reached after negotiations with about 24 shipping lines upon consideration of a number factors including the global COVID-19 pandemic and bunker rates.
🚩The Management of Agricultural Development Bank (ADB) has indicated that it is putting in place strategic measures that will see the bank raise its agricultural loan portfolio to 50 percent by the year 2022. This is to enable farmers and value chain actors to have access to enough capital to boost agriculture development, reduce importation and enhance the country’s efforts at attaining food sufficiency. Mr Kwasi Asiedu Attrams, General Manager in charge of Agribusiness at ADB who disclosed this at the second edition of the Livestock, Poultry and Fisheries Training and Tradeshow in Accra said the bank acknowledged the difficulty actors within the industry, especially primary producers faced in accessing finance.
🚩About 550,000 Ghanaians in low income urban communities of the Greater Accra Metropolitan Area (GAMA) and the Greater Kumasi Metropolitan Area (GKMA) are expected to receive improved water and sanitation services in the coming months. This follows the approval of an additional financing of US$125 million by the World Bank’s Board of Executive Directors from the International Development Association (IDA) to support Government in the implementation of the Greater Accra Metropolitan Area Sanitation and Water Project (GAMA SWP).
🚩Work on a GH¢6.6-million rice-processing factory at Sefwi Akontombra in the Western North Region is scheduled for completion by end of October, this year. The factory is one of five Common User Processing Facilities (CUF) currently under construction nationwide under the government’s One District-One Factory (1D1F) programme to process raw materials into products or convert agro-industrial materials into other products. The programme is being led by the Rural Enterprises Programme (REP) of the Ministry of Trade and Industry with funding from the African Development Bank (AfDB). Inspecting the factory yesterday, Minister of Trade and Industry, Alan Kyerematen, said the factory was in line with the government’s plan to decentralise industrialisation and support communities to add value to their agricultural produce.
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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.6991 Sell 5.7049
GB£GH¢ Buy 7.2373 Sell 7.2452
AUD$GH¢ Buy 3.9979 Sell 4.0030
CAD$GH¢ Buy 4.2508 Sell 4.2549
JP¥GH¢ Buy 0.0540 Sell 0.0540
ZARGH¢ Buy 0.3323 Sell 0.3326
EU€GH¢ Buy 6.6222 Sell 6.6281
CHN¥GH¢ Buy 0.8346 Sell 0.8354
GH¢CFA Buy 98.9661 Sell 99.0542
GH¢NG₦ Buy 66.7310 Sell 67.1694
CRYPTOCURRENCY MARKET
Bitcoin $10,755.26 🔼+0.25%
Ethereum $355.45 🔼+0.16%
Ripple $0.242716 🔼+0.18%
Polkadot $4.24 🔼+2.22%
Bitcoin Cash $228.50 🔼+2.61%
Chainlink $10.74 🔼+0.66%
Bitcoin SV $170.28 🔼+2.75%
Litecoin $46.09 🔼+0.13%
Cardano $0.101985 🔼+7.9%
Binance Coin $26.01 🔼+0.66%
EOS $2.58 🔼+0.13%
💵Bloomberg USDGHS Cross Rate – 5.7888 (YTD – ⬆️ +1.37%)
🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today
🔻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 13.5599% Interest Rate 14.0357%
182 – Day Discount Rate 13.2131% Interest Rate 14.1478%
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🚂⛽ 27,173.96 +358.52 +1.34%
*S&P 500 🏦 3,298.46 +51.87 +1.60%
*Nasdaq Index📲💻 10,913.56 +241.29 +2.26%
- NYSE Composite Index 12,485.38 +119.84 +0.97%
*London FTSE 100 5,842.67 +19.89 +0.34%
*Germany DAX 12,469.20 -137.37 -1.09%
*Japan NIKKEI 225 23,204.62 +116.80 +0.51%
*Hong Kong HANG SENG 23,235.42 -75.65 -0.32%
*Shanghai Shenzhen 300 4,570.02 +6.95 +0.15%
*S&P/ASX 200 Index 5,964.92 +88.98 +1.51%
*Bloomsberg EU 500 234.60 -0.52 -0.22%
*MOEX Russia Index 2,896.83 -15.93 -0.55%
*FTSE/JSE South Africa Top40 49,547.74 -579.31 -1.16%
*Nairobi SE 20 Share 1,847.63 +15.63 +0.85%
*Nigeria SE Main-Board Index 26,319.47 +332.33 +1.28%
*GSE Composite Index 1834.47 0.00 (0.00%)
*GSE Financial Index 1656.71 0.00 (0.00%)
GSE INDEXES ⏸ 2020 YTD RETURNS%
*GSE Composite Index 1,834.47 🔻-18.73%
*GSE Financial Index 1,656.71 🔻-17.97%
💧MUTUAL FUNDS IN GHANA♣️
📈EQUITY FUNDS ➰YTD%
Anidaso Fund 🔻-5.08%
EPAcK 🔻-16.51%
Republic Equity 🔻-1.03%
SAS Fortune 🔻-5.00%
⚖BALANCED FUNDS ⏸YTD%
Bfund 🔼+1.20%
CCMF 🔼+12.19%
CM Fund 🔼+10.54%
Dalex Vision 🔼+9.75%
EDC Balanced 🔻-4.00%
EdiFund T2 🔼+6.17%
Fidelity Balanced Trust 🔼+5.62%
Plus Balanced Fund 🔼+10.11%
Republic F Plan 🔼+1.69%
UMB Balanced 🔼+8.08%
⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+11.55%
Fidelity Fixed Income Trust 🔼+13.40%
Fixed Income Alpha Plus 🔼+16.28%
Omega Income 🔼+12.80%
Mfund 🔼+12.93%
Plus Income Fund 🔼+13.24%
STANLIB Income 🔼+13.19%
MONEY MARKET FUNDS ⏱YTD%
EdiFund T1 🔼+11.68%
NGIS Mfund 🔼+10.13%
Republic Unit 🔼+7.66%
STANLIB Cash 🔼+12.63%
✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $41.92 -0.02 -0.05%
*Natural Gas 🏭 $/million BTUS $2.14 -0.11 -4.85%
*Gold 👑 $/troy ounce $1,866.30 -10.60 -0.56%
*Silver 💍 $/troy ounce $23.09 -0.10 -0.44%
*Corn 🌽 $/bushel $365.25 +1.75 +0.48%
*Cocoa 🍫 $/metric ton $2,568.00 -31.00 -1.19%
*Coffee ☕ ¢/pound $113.65 +2.50 +2.25%
*Sugar🎂 ¢/pound $13.51 +0.14 +1.05%
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