BUSINESS NEWS | GHANA AND BEYOND 🌍 13/04/2021

 

🚩A total of GH¢571.8 billion (US$99.67 billion) worth of mobile money transactions took place in the year 2020 alone, Deputy Governor of the Bank of Ghana , Mrs Elsie Addo Awadzi has revealed. This reaffirms the statue of MoMo as the biggest platform for payments in Ghana after cash and well ahead of cheques and all the other electronic payments platforms introduced in Ghana over the past few years, most of them by the BoG’s dedicated subsidiary, the Ghana Interbank Payments and Settlement Systems Limited.

🚩MTN Group Ltd. is valuing its mobile-money arm at about US$5 billion, joining African wireless carriers planning to list these businesses in a region that has more mobile-money accounts than anywhere else in the world. MTN’s valuation of its unit follows Mastercard Inc. and TPG Holdings LP investing US$300 million in Airtel Africa’s mobile-money business at a US$2.65 billion value. “With similar valuations to that of Airtel, our valuation would sit at 75 billion rand, or about US$5 billion,” said MTN Chief Executive Officer Ralph Mupita. “No decision has been made as yet, but listing will be an option considered if that will be the best approach to unlock value.”

🚩Popular social media platform, Twitter Inc. will establish its presence in Africa with a headquarters situated in Ghana, its founder, Jack Dorsey has disclosed. Making the disclosure via Twitter on April 12, Jack Dorsey wrote; “Twitter is now present on the continent. Thank you Ghana and @NAkufoAddo.” Reacting to the news following a virtual meeting held between Ghana’s President Akufo-Addo and Jack Dorsey on April 7, the president said the decision to set up a headquarters is critical for Ghana's development in the technology sector.

🚩Minister for Works and Housing, Francis Asenso-Boakye on Saturday, April 10, paid a courtesy call on the Minister for Construction, Housing and Urban Planning of the Republic of Côte d’Ivoire, Bruno Nabagné Koné in Abidjan. The visit was aimed at deepening the ties of co-operation between the two countries in the housing sector, especially on the provision of Affordable Housing. He noted that government of Ghana is exploring all appropriate options to ease the burden on Ghanaians in the provision of safe, decent and affordable housing.

🚩The International Monetary Fund has projected that Ghana’s public debt stock will hit 81.5% of Gross Domestic Product by the end of 2021. This was contained in the Funds April 2021 Fiscal Monitor for low-income developing countries in sub-Saharan Africa. The latest projection means that Ghana’s public debt will move above GH¢300 billion before the end of 2021. For the 2022 fiscal year, the IMF projects that Ghana’s debt to GDP ratio will increase to 83.2%. This is further expected to surge to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively.

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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. Watch the MoP webinar on the *Invest in Gh YouTube channel*.

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✴✴INTERBANK FOREX RATES 💴💰 

US$GH¢ Buy 5.7265 Sell 5.7323

GB£GH¢ Buy 7.8620 Sell 7.8704

CHFGH¢ Buy 6.1852 Sell 6.1913

AUD$GH¢ Buy 4.3673 Sell 4.3728

CAD$GH¢ Buy 4.5614 Sell 4.5657

JP¥GH¢ Buy 0.0522 Sell 0.0523

NZDGH¢ Buy 4.0332 Sell 4.0383

ZARGH¢ Buy 0.3922 Sell 0.3926

EU€GH¢ Buy 6.8063 Sell 6.8130

CHN¥GH¢ Buy 0.8738 Sell 0.8746

GH¢CFA Buy 96.2802 Sell 96.3750

GH¢NG₦ Buy 71.0615 Sell 71.3862

    

CRYPTOCURRENCY MARKET      

Bitcoin $60,525.17 🔼1.12%

Ethereum $2,163.80 🔼0.99%

Binance Coin $563.50 🔼3.72%

Ripple $1.47 🔼10.16%

Cardano $1.31 🔼0.74%

Polkadot $40.18 🔼1.63%

Uniswap $35.62 🔼18.22%

THETA $12.30 🔼1.01%

Litecoin $248.96 🔼0.84%

Chainlink $32.82 🔼1.68%

Stellar $0.4941 🔼5.31%

Bitcoin Cash $672.93 🔼0.99%

Dogecoin $0.07357 🔼1.25%

Filecoin $165.18 🔼6.83%

💵Bloomberg USDGHS Cross Rate - *5.7664* (YTD - 🔽-1.71%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE 

No gainers for today

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE

No losers for today

〽Inflation rate in Ghana  ➡  10.30% (🔺️+4.04%)

🏦Ghana Reference Rate ➡ 14.34% (🔽-2.91%)

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

¶ TREASURY RATES💸 

14 - Day Discount Rate 14.4196% Interest Rate 14.5000%

56 - Day Discount Rate 14.1836% Interest Rate 14.5000%

91 - Day Discount Rate 12.4123% Interest Rate 12.8098%

182 - Day Discount Rate 12.7399% Interest Rate 13.6066%

364 - Day Discount Rate 14.1230% Interest Rate 16.4456%

1 Year Fixed Note Interest Rate 16.5672%

2 Year Fixed Note Interest Rate 17.6000%

3 Year Bond Interest Rate 17.7000%

5 Year Bond Interest Rate 18.3000%

6 Year Bond Interest Rate 19.2500%

7 Year Bond Interest Rate 20.5000%

10 Year Bond Interest Rate 19.8000%

20 Year Fixed Rate Bond 20.2000%

🛢Average Petrol & Diesel Price Per Litre - Gh¢5.45 (🔺️+4.74%)

🏧 MARKET INDEXES 

*Dow Jones Index🚂⛽ 33,745.40 -55.20 -0.16%

*S&P 500 🏦 4,127.99 -0.81 -0.02%

*Nasdaq Index📲💻  13,850.00 -50.19 -0.36%

* NYSE Composite Index 15,977.46 +21.09 +0.13%

*London FTSE 6,889.12 -26.63 -0.39%

*Germany DAX 15,215.00 -19.16 -0.13%

*Japan NIKKEI 225 29,538.73 -229.33 -0.77%

*Tokyo TOPIX Index 1,954.59 -4.88 -0.25%

*Hong Kong HANG SENG  28,453.28 -245.52 -0.86%

*Shanghai Shenzhen 300 4,947.75 -87.59 -1.74%

*S&P/ASX 200 Index 6,973.96 -21.22 -0.30%

*Bloomsberg EU 500 288.18 -1.23 -0.43%

*France CAC All-Tradable 4,766.52 -7.23 -0.15%

*Dubai DFM General Index 2,586.41 -6.81 -0.26%

*MOEX Russia Index 3,522.65 +36.62 +1.05%

*FTSE/JSE South Africa Top40 60,672.56 -785.91 -1.28%

*Nairobi SE 20 Share 1,862.87 -5.89 -0.32%

*Nigeria SE Main-Board 38,712.55 -153.84 -0.40%

*BBG EMEA World Index 152.41 -0.37 -0.24%

*GSE Composite Index 2,301.35 0.00 0.00%

*GSE Financial Index 1,835.25 0.00 0.00%

🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%

MTNGH ➡Gh¢0.93 🔼+45.31%

SOGEGH ➡Gh¢0.75 🔼+17.19%

SCB ➡Gh¢18.16 🔼+11.34%

TOTAL ➡Gh¢3.15 🔼+11.31%

GCB ➡Gh¢4.50 🔼+11.11%

🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%

UNIL ➡Gh¢6.06 🔻-26.90%

ETI ➡Gh¢0.07 🔻-12.50%

ALW ➡Gh¢0.10 🔻-9.09%

CAL ➡Gh¢0.64 🔻-7.25%

EGH ➡Gh¢7.00 🔻-2.78%

GSE INDEXES ⏸ 2021 YTD RETURNS% 

*GSE Composite Index 2,298.39 🔼+18.38%

*GSE Financial Index 1,835.25 🔼+2.94%

💧MUTUAL FUNDS IN GHANA♣

📈EQUITY FUNDS ➰YTD%

Databank EPAcK 🔼+3.45%

Republic Equity Trust 🔼+3.36%

⚖BALANCED FUNDS ⏸ YTD%

Databank Bfund 🔼+5.14%

EDC Balanced 🔼+6.77%

CDH Balanced Fund 🔼+3.81%

Republic Future Plan Trust 🔼+5.07%

Databank EdiFund T 2 🔼+3.15%

Dalex Vision Fund 🔼+5.21%

Fidelity Balanced Trust 🔼+6.84%

⚙FIXED INCOME FUNDS 🛡YTD%

EDC Fixed Income 🔼+4.19%

Fidelity Fixed Income Trust 🔼+4.82%

NIMED Fixed Income Tier 1 🔼+3.59%

NIMED Fixed Income Tier 2 🔼+4.01%

Databank Mfund 🔼+4.46%

MONEY MARKET FUNDS ⏱YTD%

Databank EdiFund T1 🔼+4.90%

EDC Money Market Fund 🔼+3.69%

Republic Unit Trust 🔼+3.93%

✴ COMMODITIES MARKET 

*Brent Crude $/barrel⛽ $63.28 +0.33 +0.52%

*Natural Gas 🏭 $/million BTUS $2.55 -0.01 -0.31%

*Gold 👑 $/troy ounce $1,732.70 0.00 0.00%

*Silver 💍 $/troy ounce $24.83 -0.04 -0.15%

*Corn 🌽 $/bushel $569.00 -8.25 -1.43%

*Cocoa 🍫 $/metric ton $2,401.00 +14.00 +0.59%

*Coffee ☕ $/pound  $128.10 +0.85 +0.67%

*Sugar🎂 $/pound $15.36 -0.05 -0.32%

*Lumber $/1000 board feet $1,157.50 +32.00 +2.84%

Rubber  USd/kg $158.00 -5.10 -3.13%

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

Compiled By:

Prince Henry Danquah

Bora Capital Advisors Ltd.

+233(0)50-002-3155