BUSINESS NEWS | GHANA AND BEYOND 🌍 14/08/2020

 

🚩Parliament has approved a total of €598.7 million loan agreement between the Government and the Deutsche Bank to finance the construction of sections of the Western railway lines. The agreement covers the proposed construction of the Standard Gauge from Takoradi Port to Huni Valley. The loan comprises a facility agreement of €523 million and a Commercial Loan of €75.66 million between the Government of Ghana and the Deutsche Bank. Additionally, the House also approved a request for waiver of import duties, import VAT, NHIL, GETfund levy, Exim levy, special import levy and Domestic VAT amounting to €72.29 million on project materials and equipment to be imported for the execution of the project. The terms and conditions of the loan agreement consist of a facility amount of €523 million out of which €432 million is for the project, and €91 million for the insurance premium tenure of 18 years.

🚩Private power generator Tata Power reported a 10 per cent jump in Profit After Tax (PAT) for the quarter ended June 2020 at Rs 268 crore on the back of lower financing cost. The company also announced three wholly-owned subsidiaries will be merged with the parent firm. In the same quarter last financial year, the company had reported a PAT of Rs 243 crore. Consolidated revenue during the June 2020 quarter stood at Rs 6,671 crore as compared to Rs 7,567 crore in the corresponding period last financial year. In the same quarter last financial year, the company had reported a PAT of Rs 243 crore. Consolidated revenue during the June 2020 quarter stood at Rs 6,671 crore as compared to Rs 7,567 crore in the corresponding period last financial year.

🚩Parliament has approved a €72m facility aimed at financing the construction of the Paa Grant Interchange and other roads in the Sekondi-Takoradi township. The project is expected to enhance economic activities and improve public transport and the standard of living of the residents. The Paa Grant roundabout is one of the three roundabouts that link the peripheral roads which form a triangular ring road and adjoining roads within the central business district of the Sekondi-Takoradi metropolis. It attracts significant traffic into the area but has limited traffic capacity, resulting in poor network performance, which impacts commercial activities negatively.

🚩Paid-up capital and reserves of banks have shot up by more than 22 percent since May 2019 to GH¢19.3 billion in May 2020, according to the latest Statistical Bulletin released by the Bank of Ghana (BoG). This signifies the strength of banks Capital Adequacy Ratio which is a measurement of a bank's available capital expressed as a percentage of a bank's risk-weighted credit exposures. The CAR is used to protect depositors and promote the stability and efficiency of financial systems around the world. According to the report, paid-up capital was GH¢15.89 billion in May 2019, but jumped to about GH¢17 billion at the end of December 2019. It climbed again to GHc18.68 billion in April 2020 and then subsequently to GHc19.3 billion in May 2020.

🚩Information gathered by Class News indicates that all foreign-owned shops in Accra that are engaged in illegal retail trade will be closed down over their failure to acquire business operating documents. The Presidential Committee on Retail Trade under the Ministry of Trade and Industry began the closure exercise on 13th August 2020 at the Kwame Nkrumah Circle in Accra. The Committee’s actions follow notices served ahead of time to these foreigners to that effect. The Committee is expected to move to Opera Square, Zongo Lane, Kantamanto, UTC and Kumasi to fish out foreigners involved in retail trade in the country without the necessary documents.

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The 2nd InvestinGh webinar comes off on 15th August, 2020 @ 17:00GMT. Mr. Akwasi Adu-Boahene, Head of Fidelity Securities Ltd., will speak on the topic *"How to choose a Mutual Fund"*. Visit *www.investingh.info* to register for free.

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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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The Investingh team put together a Financial Planning Template to help you plan your budget, retirement, child's fees, weddings, buying a car, land acquisition etc. Follow this link to download: http://eepurl.com/gb8arv

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✴INTERBANK FOREX RATES 💴💰 

US$GH¢ Buy 5.6778 Sell 5.6834

GB£GH¢ Buy 7.4282 Sell 7.4362

AUD$GH¢ Buy 4.0707 Sell 4.0758

CAD$GH¢ Buy 4.2977 Sell 4.3016

JP¥GH¢ Buy 0.0531 Sell 0.0532

ZARGH¢ Buy 0.3263 Sell 0.3264

EU€GH¢ Buy 6.7163 Sell 6.7229

CHN¥GH¢ Buy 0.8176 Sell 0.8181

GH¢CFA Buy 97.5705 Sell 97.6664

GH¢NG₦ Buy 67.4225 Sell 67.6865

    

CRYPTOCURRENCY MARKET      

Bitcoin $11,895.68 🔻-0.34%

Ethereum $397.57 🔼0.35%

Ripple $0.303224 🔼3.25%

Bitcoin Cash $303.36 🔻-1.04%

Chainlink $13.17 🔻-1.31%

Bitcoin SV $226.46 🔻-0.70%

Litecoin $58.91 🔼1.39%

Cardano $0.143918 🔻-1.08%

Binance Coin $22.68 🔼0.07%

EOS $3.25 🔼6.11%

Stellar $0.108157 🔼1.80%

💵Bloomberg USDGHS Cross Rate - *5.7575* (YTD - ⬆️ +0.82%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE 

No losers for today

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE

No losers for today

〽Inflation rate in Ghana  ➡  11.40% (+1.79%)

🏦Ghana Reference Rate ➡ 14.75% (-0.34%)

✳Policy Rate in Ghana ➡ 14.50% (-9.38%)

¶ TREASURY BILLS RATE💸 

91 - Day Discount Rate 13.5141% Interest Rate 13.9866%

182 - Day Discount Rate 13.1522% Interest Rate 14.0780%

364 - Day Discount Rate 14.4885% Interest Rate 16.9433%

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%

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 -28.99% ➡Gh¢1.20

RBGH -28.57% ➡Gh¢0.40

CAL -26.97% ➡Gh¢0.65

GCB -25.49% ➡Gh¢3.80

🏧 MARKET INDEXES 

*Dow Jones Index🚂⛽ 27,896.72 -80.12 -0.29%

*S&P 500 🏦 3,373.43 -6.92 -0.20%

*Nasdaq Index📲💻  11,042.50 +30.27 +0.27%

* NYSE Composite Index 12,919.14 -55.68 -0.43% +0.98%

*London FTSE 100 6,185.62 -94.50 -1.50%

*Germany DAX 12,993.71 -64.92 -0.50%

*Japan NIKKEI 225 23,249.61 +405.65 +1.78%

*Hong Kong HANG SENG  25,230.67 -13.35 -0.05%

*Shanghai Shenzhen 300 4,635.71 -11.93 -0.26%

*S&P/ASX 200 Index 6,091.00 -41.05 -0.67%

*Bloomsberg EU 500 246.49 -1.48 -0.60%

*MOEX Russia Index 3,080.44 +26.45 +0.87%

*FTSE/JSE South Africa Top40 53,082.08 -44.46 -0.08%

*Nairobi SE 20 Share 1,738.58 -12.81 -0.73%

*Nigeria SE Main-Board Index 25,236.97 +95.49 +0.38%

*GSE Composite Index 1876.41 0.00 (0.00%)

*GSE Financial Index 1725.21 0.00 (0.00%)

GSE INDEXES ⏸ 2020 YTD RETURNS% 

*GSE Composite Index 1,876.41 🔻-16.87%

*GSE Financial Index 1,725.21 🔻-14.58%

💧MUTUAL FUNDS IN GHANA♣

📈EQUITY FUNDS ➰YTD%

Anidaso Fund -4.39% 

EPAcK -16.91% 

Republic Equity -1.39% 

⚖BALANCED FUNDS ⏸YTD%

Bfund 🔼+0.12% 

CCMF 🔼+9.93% 

CDH Balanced 🔻-2.14% 

CM Fund 🔼+8.74% 

Dalex Vision 🔼+8.31% 

EDC Balanced 🔻-4.51% 

EdiFund T2 🔼+3.87% 

Fidelity Balanced Trust 🔼+4.27% 

Plus Balanced Fund 🔼+8.05% 

Republic F Plan 🔼+1.08% 

⚙FIXED INCOME FUNDS 🛡YTD%

EDC Fixed Income 🔼+9.52% 

Fidelity Fixed Income Trust 🔼+10.97% 

Fixed Income Alpha Plus 🔼+13.48% 

Plus Income Fund 🔼+10.68% 

SEM Income 🔼+9.72% 

STANLIB Income 🔼+11.00% 

MONEY MARKET FUNDS ⏱YTD%

EdiFund T1 🔼+9.04%

Mfund 🔼+9.93% 

NGIS Mfund 🔼+9.13% 

Republic Unit 🔼+6.49% 

SEM MoneyPlus 🔼+8.38% 

STANLIB Cash 🔼+10.61%

✴ COMMODITIES MARKET 

*Brent Crude $/barrel⛽ $45.06 -0.37 -0.81%

*Natural Gas 🏭 $/million BTUS $2.19 +0.04 +1.86%

*Gold 👑 $/troy ounce $1,963.40 +14.40 +0.74%

*Silver 💍 $/troy ounce $27.62 +1.64 +6.30%

*Corn 🌽 $/bushel $338.50 +11.25 +3.44%

*Cocoa 🍫 $/metric ton $2,480.00 +15.00 +0.61%

*Coffee ☕ ¢/pound  $118.10 +3.85 +3.37%

*Sugar🎂 ¢/pound $13.11 +0.27

+2.10%

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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