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Business News :Ghana and the world !
Posted by admin on 25th September 2018

BUSINESS NEWS | GHANA AND BEYOND 🌍 25/09/2018

🚩 The Monetary Policy Committee (MPC)of the Bank of Ghana has maintained the policy rate at 17 percent after its 84th meeting. This is the second consecutive time that the central bank has maintained the policy rate. Speaking at a press conference, Dr. Addison explained that the decision to hold the figure at 17 percent is aimed at helping the country achieve its inflation target by end of year. Dr. Addison also pointed out that adequate measures have been put in place to stabilize the local currency.

🚩A Danish Company, ExoXpac, would next year launch a business initiative in Ghana to use coconut husks and pineapple wastes to produce bottles and food packs to substitute the use of plastics. The ExoXpac, which specialises in converting biodegradable waste materials to useful products, would undertake the new technology, in collaboration with the Council for Scientific and Industrial Research, to promote economic growth and employment in Ghana.

🚩President Nana Addo Dankwa Akufo-Addo is hopeful that the new GH¢20million Sweet Potato Processing Factory under construction will transform rural communities in and around Gomoa Bewadze in the Gomoa West district of the Central Region. The factory, to be operated by CASA de ROPA Limited – a wholly-owned Ghanaian private agribusiness company financed by the Ghana Export Import (EXIM) Bank – is yet to be completed and inaugurated. However, the factory has started producing bread, chips, and other pastries from potato for local consumption.

🚩Ghana’s collapsing poultry industry is to see a revamp as the country welcomed some poultry operators and investors from Morocco. This assurance comes from the Agric Minister, Dr Owusu Afriyie Akoto, who witnessed the maiden Ghana-Morocco Poultry Summit in Accra. Currently, Ghana imports about 135 million tonnes of poultry on an annual basis. This trend could change as the Moroccan investors have been engaging with poultry operators in Ghana on best ways of injecting capital in the sector.

🚩Ghana’s roads could undergo major reconstruction to spur economic and social development through easier access to and from rural areas to the main commercial centres. The $10 billion projects will include undertaking a thorough assessment of the current road network in Ghana to identify and build roads from scratch, expand some existing roads as well as maintain others.

🚩Two of the world’s largest gold miners are merging as Barrick Gold (NYSE:ABX) agreed to acquire Randgold Resources (NASDAQ:GOLD) in a share-for-share deal that would create an $18.3 billion mining giant. Barrick shareholders would own roughly two-thirds of the combined company, which would own five of the world’s top 10 tier-one gold assets by total cash cost, with two potential tier-one gold projects under development or expansion. Barrick Executive Chairman John Thornton is set to become Executive Chairman of the new company, and Randgold CEO Mark Bristow would become President and CEO.

🚩A 2018 Human Resource Banking Survey has revealed that over 70 percent of workers in the banking sector, want to leave the industry. The survey was conducted by Human Capital experts, Acreaty Ghana between February and May this year. It was conducted among 14 banks including, Fidelity Bank, GCB Bank, Ecobank, Barclays, Omni Bank, Stanbic Bank and defunct Capital and Sovereign banks. According to the report, 24,300 people are currently employed in the banking sector. However 99 percent of the over 2000 respondents disclosed that their banks have swayed from their core visions.

✴FOREIGN EXCHANGE 💴💰
US$Gh¢ Buy 4.7644 Sell 4.7691
GB£Gh¢ Buy 6.2557 Sell 6.2637
CAD$Gh¢ Buy 3.6857 Sell 3.6893
JP¥Gh¢ Buy 0.0424 Sell 0.0424
ZARGh¢ Buy 0.3342 Sell 0.3346
EU€Gh¢ Buy 5.6120 Sell 5.6167
CHN¥Gh¢ Buy 0.6982 Sell 0.6987
Gh¢CFA Buy 116.79 Sell 116.89
Gh¢NG₦ Buy 64.09 Sell 64.15
BITCOIN Trading Price $6,460.89 ▼$-152.13 ▼-5.92%
ETHEREUM Trading Price $221.37 ▼$-15.54 ▼-7.24%
RIPPLE Trading Price $0.47 ▼$-0.03 ▼-4.21%

〽️Inflation rate in Ghana  ➡️  9.90%(+3.13%)

✳Policy Rate in Ghana ➡️ 17.00% ( -5.55%)

¶ TREASURY BILLS RATE💸
91 – Day Discount Rate 12.9521% Interest Rate 13.3856%
182 – Day Discount Rate 13.2408% Interest Rate 14.1796%
1 Year Fixed Note Interest Rate 15.0000%
2 Year Fixed Note Interest Rate 18.0000%
3 Year Bond Interest Rate 18.0000%
5 Year Bond Interest Rate 17.0000%
10 Year Bond Interest Rate 17.5000%

🔼 GSE GAINERS ➖ YTD% ➖ PRICE
PZC +140.00% ➡️Gh¢0.48
SIC +80.00% ➡️Gh¢0.18
MLC +50.00% ➡️Gh¢0.09
SOGEGH +47.97% ➡️Gh¢1.04
UNIL +38.71% ➡️Gh¢17.81

🔻GSE LOSERS ➖ YTD% ➖ PRICE
SPL -66.67% ➡️Gh¢0.01
PBC -50.00% ➡️Gh¢0.03
ALW -43.75% ➡️Gh¢0.09
TLW -30.03% ➡️Gh¢12.00
FML -26.55% ➡️Gh¢13.00

🛢Average Petrol & Diesel Price Per Litre – Gh¢5.12 (+3.64%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 26,562.05 -181.45 -0.68%
*S&P 500 🏦 2,919.37 -10.30 -0.35%
*Nasdaq Index📲💻  7,993.25 +6.30 +0.08%
* NYSE Composite Index 13,162.05 -74.39 -0.56%
*London FTSE 100 7,458.41 -31.82 -0.42%
*Germany DAX 12,350.82 -80.06 -0.64%
*Japan NIKKEI 225 23,899.33 +29.40 +0.12%
*Hong Kong HANG SENG  27,499.39 -454.19 -1.62%
* Shanghai Shenzhen 300 3,372.58 -37.91 -1.11%
*S&P/ASX 200 Index 6,183.30 -3.57 -0.06%
*Bloomsberg EU 500 257.79 -1.35 -0.52%
*FTSE/JSE South Africa Top40 50,987.15 +589.96 +1.17%
*Nairobi SE 20 Share 2,873.04 +40.56 +1.43%
*Nigeria SE Main-Board Index 32,451.27 -88.90 -0.27%
*GSE Composite Index 2895.39 3.28 (+0.11%)
*GSE Financial Index 2607.47 -9.34 (-0.36%)

💧MUTUAL FUNDS IN GHANA♠️YIELD%
*HFC Reit 🔼+14.24%
*STANLIB Income 🔼+12.51%
*SEM MoneyPlus 🔼+16.16%
*TTL IncomeHaven 🔼+26.22%
*FirstFund 🔼+25.71%
*EDC Fixed Income 🔼+16.53%
*ARK Fund 🔼+13.07%
*SAS Fortune 🔼+11.06%
*Mfund 🔼+16.25%
*Omega Equity 🔼+14.26%
*Legacy Trust 🔼+15.17%
*HeritageFund 🔼+10.88%
*Gold Fund 🔼+19.16%
*Dalex Vision 🔼+19.99%
*Anidaso Fund 🔼+10.87%
*UMB Balanced 🔼+14.54%
*CM Fund 🔼+17.99%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $81.43 +0.23 +0.28%
*Natural Gas 🏭 $/million BTUS $3.05 +0.01 +0.39%
*Gold 👑 $/troy ounce $1,203.30 -1.10 -0.09%
*Silver 💍 $/troy ounce $14.28 -0.06 -0.43%
*Corn 🌽 $/bushel $358.50 -2.00 -0.55%
*Cocoa 🍫 $/metric ton  $2,235.00 +68.00 +3.14%
*Coffee ☕ ¢/pound  $98.50 -1.40 -1.40%
*Sugar🎂 ¢/pound $11.23 -0.45 -3.85%

 
Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline.

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