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BUSINESS NEWS | GHANA AND BEYOND 🌍 19/03/2019

🚩 The government of Ghana has agreed a $180 million deal with the Exim Bank of India to finance various development projects in the country. This was announced by Ghana’s Vice-President, Dr Mahamudu Bawumia, who stated on Monday, 18 March 2019 that the agreements will be signed between the two countries in April 2019. Dr Bawumia revealed that the decision was taken after engagements with Mr David Raaquinha, Exim Bank of India President and also John Deere, an executive of TATA Africa Holding (GH) Limited.

🚩 Rating agency Standards and Poor’s (S&P) Global has rated Ghana’s upcoming $3 billion Eurobond ‘B/Stable’. The rating agency holds the view that Ghana currently has the capacity to meet its financial obligation but faces major ongoing uncertainties that could impact its financial commitment on the obligation.

🚩 MTN, Ghana’s leading telecommunications service provider, has launched its 4G+ service to provide faster data speeds with widest coverage for its customers. The 4G+ service runs on 4G LTE Advanced technology using the combination of the 800MHz and 2600MHz for carrier aggregation which is an enhancement on the 4G LTE experience. This provides more capacity and enhanced data speed of up to 20x if migrating from 3G to 4G+ and 5x if migrating from 4G to 4G+.

🚩 For the better part of the first quarter of 2019, gold, which remains the largest foreign exchange earner for the country has being trading on the international market at lower prices than it did last in the same period of last year. According to data from investing.com, gold prices stood at between US$1348.20 per ounce and US$1358.40 per ounce to end the first quarter of 2018. However the situation for this year has deteriorated significantly, as the preciouso metal has struggled to stay above the key level of US$ 1,300 per ounce level.

🚩 The Public Utilities Regulatory Commission (PURC) is visiting the ongoing construction site of the road interchange at Pokuase on Monday, March 18. The construction work has necessitated the diversion of GRIDCo’s 330kV transmission line towers that run from Tema to Aboadze, plunging parts of the country into darkness.
The PURC said the visit will afford them the opportunity to have first-hand information on what transpired and also know the progress of work.

🚩 Ghana is to become self-sufficient in rice production by the year 2025. This may sound ridiculous but certainly not impossible. The disclosure is couched in the Akufo-Addo government’s newly introduced initiative on rice production, strategically structured as an arm of its flagship Planting for Food and Jobs (PFJ) programme, to boost the production of the crop in the country. Ghana is said to be importing rice close to the tune of $1billion annually with an apparent negative effect on the national economy

🚩 The chiefs and people of Buipe in the Central Gonja District in Savannah Region have welcomed the appointment of Mrs. Gabiana Gbanwaa as the new General Manager of the Produce Buying Company (PBC) Shea Processing factory in Buipe. They are optimistic that, with her decades experience in both the civil service and in the corporate world she would be able to introduce innovative ideas that would help reposition the factory which had been faced with numerous challenges.

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✴INTERBANK FOREX RATES 💴💰
US$Gh¢ Buy 5.2374 Sell 5.2426
GB£Gh¢ Buy 6.9123 Sell 6.9213
CAD$Gh¢ Buy 3.9208 Sell 3.9247
JP¥Gh¢ Buy 0.0470 Sell 0.0470
ZARGh¢ Buy 0.3626 Sell 0.3631
EU€Gh¢ Buy 5.9364 Sell 5.9410
CHN¥Gh¢ Buy 0.7801 Sell 0.7802
Gh¢CFA Buy 110.41 Sell 110.52
Gh¢NG₦ Buy 58.42 Sell 58.48
BITCOIN Trading Price $4,028.07 ▲$53.22 ▲1.72%
ETHEREUM Trading Price $139.17 ▲$2.14 ▲2.55%
RIPPLE Trading Price $0.31 ▲ $0.01 ▲0.98%

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
No gainers for today

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
BOPP -14.96% ➡️Gh¢4.15
PZC -2.44% ➡️Gh¢0.40
EGL -1.34% ➡️Gh¢2.21

〽️Inflation rate in Ghana  ➡️  9.20% (+2.22%)

✳Policy Rate in Ghana ➡️ 16.00% (-5.88%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 14.1929% Interest Rate 14.7150%
182 – Day Discount Rate 14.0833% Interest Rate 15.1501%
364 – Day Discount Rate 15.3904% Interest Rate 18.1898%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 19.7500%
3 Year Bond Interest Rate 20.0000%
5 Year Bond Interest Rate 17.0000%
6 Year Bond Interest Rate 21.0000%
10 Year Bond Interest Rate 17.5000%

🔼 GSE 2019 GAINERS ➖ YTD% ➖ PRICE
TOTAL +50.00% ➡️Gh¢5.10
SOGEGH +20.00% ➡️Gh¢0.90
AYRTN +14.29% ➡️Gh¢0.08
ACCESS +12.68% ➡️Gh¢4.00
ALW +12.50% ➡️Gh¢0.09

🔻GSE 2019 LOSERS ➖ YTD% ➖ PRICE
RBGH -20.29% ➡️Gh¢0.55
GOIL -18.59% ➡️Gh¢2.54
BOPP -18.47% ➡️Gh¢4.15
SIC -15.79% ➡️Gh¢0.16
TBL -13.04% ➡️Gh¢0.20

🛢Average Petrol & Diesel Price Per Litre – Gh¢5.18 (+4.96%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 25,914.10 +65.23 +0.25%
*S&P 500 🏦 2,832.94 +10.46 +0.37%
*Nasdaq Index📲💻  7,714.48 +25.95 +0.34%
* NYSE Composite Index 12,781.42 +65.65 +0.52%
*London FTSE 100 7,299.19 +70.91 +0.98%
*Germany DAX 11,657.06 -28.63 -0.25%
*Japan NIKKEI 225 21,561.96 -22.54 -0.10%
*Hong Kong HANG SENG  29,349.79 -59.22 -0.20%
* Shanghai Shenzhen 300 3,835.65 -16.10 -0.42%
*S&P/ASX 200 Index 6,184.80 -5.73 -0.09%
*Bloomsberg EU 500 257.24 +0.73 +0.28%
*FTSE/JSE South Africa Top40 50,388.59 +704.56 +1.42%
*Nairobi SE 20 Share 2,903.80 +7.76 +0.27%
*Nigeria SE Main-Board Index 31,125.39 -17.33 -0.06%
*GSE Composite Index 2451.14 -3.20 (-0.13%)
*GSE Financial Index 2145.70 -0.97 (-0.05%)

💧MUTUAL FUNDS IN GHANA♣️ RETURNS
📈EQUITY FUNDS ➰YTD%
SEM All-Africa 🔼+12.33%
Republic Equity 🔼+1.82%
Omega Equity 🔼+4.13%
HeritageFund 🔻-1.19%
Legacy Trust 🔼+3.11%
EPAcK 🔼+4.99%
Dalex Vision 🔼+2.97%
Anidaso Fund 🔼+1.61%
NTHC Horizon 🔼+0.96%

⚖BALANCED FUNDS ⏸YTD%
UMB Balanced 🔼+2.42%
Republic F Plan 🔼+1.91%
MyWealth Trust 🔼+2.64%
Kiddifund 🔼+0.73%
EdiFund T2 🔼+3.26%
EDC Balanced 🔼+0.66%
CM Fund 🔼+3.49%
CDH Balanced 🔼+3.19%
Bfund 🔼+2.37%

⚙FIXED INCOME FUNDS 🛡AY%
EDC Fixed Income 🔼+20.83%
FirstFund 🔼+16.22%
Galaxy Mfund 🔼+9.39%
Republic Unit 🔼+10.88%
SEM MoneyPlus 🔼+14.46%
TTL IncomeHaven 🔼+19.02%

⚙FIXED INCOME FUNDS 🛡YTD%
 STANLIB Income 🔼+3.36%
SiriusOpportunity 🔼+2.87%
Omega Income 🔼+3.25%
SEM Income 🔼+2.19%
Mfund 🔼+2.75%
EdiFund T1 🔼+2.70%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $67.60 +0.06 +0.09%
*Natural Gas 🏭 $/million BTUS $2.84 -0.01 -0.25%
*Gold 👑 $/troy ounce $1,307.40 +5.90 +0.45%
*Silver 💍 $/troy ounce $15.41 +0.08 +0.54%
*Corn 🌽 $/bushel $371.75 +0.25 +0.07%
*Cocoa 🍫 $/metric ton  $2,196.00 -1.00 -0.05%
*Coffee ☕ ¢/pound  $96.85 -0.95 -0.97%
*Sugar🎂 ¢/pound $96.85 -0.95 -0.97%

 
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

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