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BUSINESS NEWS: 44% revenue growth in 2021 as inflation rate drops, Akufo Addo to host business summit at Kempinski

BUSINESS NEWS: 44% revenue growth in 2021 as inflation rate drops, Akufo Addo to host business summit at Kempinski. Government secured GH¢1.24 billion from the sale of the 6-year bond issuance, which was oversubscribed by 24%. This is coming after an improved demand for the sale of Treasury bills, following fluctuation in the short term debt instrument in recent times. Joy Business learnt that the interest rate of 18.80% was within the prevailing market condition, but at the upper end. The funds secured is expected to finance part of this year’s budget and settle some maturing debts. The 6-year bond was opened to both resident and non-resident investors. Absa, Black Star, CalBank, Databank, Ecobank, Fidelity, GCB, IC Securities and Stanbic were the active bond market specialists.

🚩Intravenous Infusions Plc recorded a strong growth in revenue by 44% during the first half of 2021. This comes after a decline of 10.5% in revenue during the same period in 2020. The decline in revenue last year was attributed principally to the effects of Covid-19 where volumes of sales across all business segments declined considerably. However, existing controls were strengthened and new ones introduced, resulting in an increase in operational efficiency at all levels of the organisational value chain with operational costs declining by 9.7% (2019: increased by 18.1%) year on year. This therefore made a profit of 1,450,885 resulting in an increase in retained earnings by 36.6%. Total assets grew by 22.5% (2019: 14.8%) year-on-year as a result of using both internal and external funds for investments in plant and equipment and other operating assets aimed at creating future value for Shareholders.

🚩His Excellency President, Nana Addo Dankwa Akufo-Addo, will host a Presidential Business Summit at the Kempinski Hotel Gold Coast City Accra, from 14th to 15th September, 2021. The Summit, an annual calendar event is being organised by the Ministry of Trade and Industry, in collaboration with the Office of the President and selected Ministries, Departments and Agencies (MDAs) to provide a platform for structured dialogue between Government and the Private Sector on critical areas of interest to the private sector. The Theme of the Summit is “Public-Private Dialogue on the Role of the Private Sector in Ghana’s Post-COVID Economic Recovery” , and His Excellency the President will deliver the Keynote Address.

🚩All is set for the first mini clinic of the 2021 Ecobank JoyNews Habitat Fair at the Achimota Retail Centre this weekend. The biggest housing event in the country which is powered by The Planned City Extension Project from Cities and Habitat will take place from 8am to 8pm daily. It is one of the three mini clinics before the main fair to be held at the Accra International Conference Centre in October 2021. The event is expected to attract several thousands of potential house owners who will be connected to mortgage financing by the headline sponsor, Ecobank and real estate companies to enable their dream come true.

🚩Ahead of the announcement of freight charges for the 2021/2022 cocoa season on Friday, September 10, the government has asked stakeholders in the cocoa value chain to ensure competitive, transparent and cost effective rates. Addressing stakeholders at the Annual Cocoa Freight Negotiation Conference in Accra on Friday, Mr Kwaku Ofori Asiama, the Minister of Transport, in a speech read on his behalf, said the cocoa industry played a pivotal role in the country’s socio-economic wellbeing through the provision of revenue, employment and livelihoods. Therefore, the freight charges that would be reached at the end of the negotiations should be well-thought through and must be mutually beneficial to all parties.

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✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.8532 Sell 5.8590
GB£GH¢ Buy 8.1049 Sell 8.1136
CHFGH¢ Buy 6.3788 Sell 6.3851
AUD$GH¢ Buy 4.3126 Sell 4.3180
CAD$GH¢ Buy 4.6316 Sell 4.6363
JP¥GH¢ Buy 0.0533 Sell 0.0533
NZDGH¢ Buy 4.1732 Sell 4.1785
ZARGH¢ Buy 0.4136 Sell 0.4138
EU€GH¢ Buy 6.9237 Sell 6.9305
CHN¥GH¢ Buy 0.9090 Sell 0.9094
GH¢CFA Buy 94.6479 Sell 94.7408
GH¢NG₦ Buy 70.1832 Sell 70.2686

CRYPTOCURRENCY MARKET
Bitcoin $44,896.38 🔻1.01%
Ethereum $3,286.35 🔻1.16%
Binance Coin $400.39 🔻1.53%
Cardano $2.45 🔻4.57%
Ripple $1.07 🔻0.82%
Dogecoin $0.2414 🔻0.56%
Polkadot $35.86 🔻12.84%
Uniswap $23.41 🔻13.85%
Solana $162.22 🔻8.39%
LUNA $37.40 🔻11.93%
Chainlink $22.68 🔻1.85%
Bitcoin Cash $625.59 🔻1.11%
Litecoin $177.36 🔻0.96%
MATIC $1.28 🔻4.38%
Internet Computer $56.68 🔻3.15%
Avalanche $54.88 🔻10.61%
Algorand $2.19 🔻7.77%
Ethereum Classic $56.01 🔻1.95%
Stellar $0.3219 🔻0.50%
THETA $6.28 🔻2.47%
Vechain $0.108 🔻7.94%
Filecoin $81.28 🔻0.91%
TRON $0.1141 🔻0.78%
PancakeSwap $19.69 🔻0.35%

💵Bloomberg USDGHS Cross Rate – *6.0400* (YTD – 🔺️+2.95%)

💰STANBIC BANK FX RATES💵
US$GH¢ Buy 5.9000 Sell 6.1200
GB£GH¢ Buy 8.1715 Sell 8.5148
EU€GH¢ Buy 6.9697 Sell 7.2681

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE
FML ➡Gh¢1.76 🔼+3.53%

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE
No losers for today

〽Inflation rate in Ghana ➡ 9.70% (🔺️+7.78%)

🏦Ghana Reference Rate ➡ 13.46% (🔽-0.37%)

✳Policy Rate in Ghana ➡ 13.50% (🔽-7.41%)

¶ 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 12.0751% Interest Rate 12.4510%
182 – Day Discount Rate 12.3933% Interest Rate 13.2120%
364 – Day Discount Rate 13.8670% Interest Rate 16.0995%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 17.2500%
3 Year Bond Interest Rate 17.7000%
5 Year Bond Interest Rate 18.8000%
6 Year Bond Interest Rate 18.8000%
7 Year Bond Interest Rate 18.1000%
10 Year Bond Interest Rate 19.7500%
20 Year Fixed Rate Bond 20.2000%

🐂GHANA GOV’T EUROBOND RATES 🏦
7 Year Bond Coupon Rate 7.7500%
12 Year Bond Coupon Rate 8.6250%
20 Year Bond Coupon Rate 8.8750%

🛢Average Petrol & Diesel Price Per Litre – Gh¢6.38 (🔺️+2.41%)

🏧 MARKET INDEXES
*Dow Jones Index🚂⛽ 34,607.72 -271.66
-0.78%
*S&P 500 🏦 4,458.58 -34.70 -0.77%
*Nasdaq Index📲💻 15,115.49 -132.76 -0.87%
* NYSE Composite Index 16,563.48 -99.64 -0.60%
*London FTSE 7,029.20 +4.99 +0.07%
*Germany DAX 15,609.81 -13.34 -0.09%
*Japan NIKKEI 225 30,381.84 +373.65 +1.25%
*Tokyo TOPIX Index 2,091.65 +26.72 +1.29%
*Hong Kong HANG SENG 26,205.91 +489.91 +1.91%
*Shanghai Shenzhen 300 5,013.52 +43.51 +0.88%
*S&P/ASX 200 Index 7,406.63 +37.10 +0.50%
*Bloomsberg EU 500 305.39 -0.86 -0.28%
*France CAC All-Tradable 5,124.06 -18.78 -0.37%
*Dubai DFM General Index 2,897.01 -10.55 -0.36%
*MOEX Russia Index 4,002.66 +9.10 +0.23%
*FTSE/JSE South Africa 58,175.75 +155.20 +0.27%
*Nairobi SE 20 Share 2,063.44 +1.22 +0.06%
*Nigeria SE Main 38,921.78 -279.55 -0.71%
*BBG EMEA World Index 162.64 -0.38 -0.23%
*GSE Composite Index 2,800.36 +0.67 +0.02%
*GSE Financial Index 1,959.18 0.00 0.00%

🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%
MTNGH ➡Gh¢1.26 🔼+96.88%
GGBL ➡Gh¢1.50 🔼+66.67%
TOTAL ➡Gh¢4.62 🔼+63.25%
FML ➡Gh¢1.76 🔼+62.96%
SOGEGH ➡Gh¢0.97 🔼+51.56%

🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%
CPC ➡Gh¢0.02 🔻-33.33%
UNIL ➡Gh¢5.90 🔻-28.83%
ACCESS ➡Gh¢3.49 🔻-20.50%
ETI ➡Gh¢0.07 🔻-12.50%
SIC ➡Gh¢0.07 🔻-12.50%

GSE INDEXES ⏸ 2021 YTD RETURNS%
*GSE Composite Index 2,800.36 🔼+44.23%
*GSE Financial Index 1,959.18 🔼+9.90%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Databank EPAcK 🔼+20.22%
Republic Equity Trust 🔼+14.22%
SAS Fortune Fund 🔼+16.97%

⚖BALANCED FUNDS ⏸ YTD%
EDC Balanced 🔼+22.55%
Databank Bfund 🔼+17.46%
Elite Mutual Fund 🔼+9.39%
Fidelity Balanced Trust 🔼+17.68%
CCMF 🔼+13.28%
CDH Balanced Fund 🔼+9.50%
CM Fund 🔼+10.48%
Dalex Vision 🔼+8.92%
Plus Balanced Fund 🔼+14.05%
Republic Future Plan Trust 🔼+11.27%
UMB Balanced Fund 🔼+7.47%
Databank EdiFund Tier 2 🔼+16.14%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+10.98%
Databank Mfund 🔼+12.90%
Fidelity Fixed Income Trust 🔼+12.69%
Financial Independence Fund 🔼+10.38%
Fixed Income Alpha Plus 🔼+12.68%
Nimed Fixed Income Fund Tier 1 🔼+10.55%
Nimed Fixed Income Fund Tier 2 🔼+11.47%
Plus Income Fund 🔼+12.42%
STANLIB Income Fund Trust 🔼+11.99%
Databank EdiFund T1 🔼+14.02%

MONEY MARKET FUNDS ⏱YTD%
SAS Midas Fund 🔼+10.13%
Stanlib Cash Trust 🔼+9.32%
EDC Money Market Fund 🔼+9.80%
Republic Unit Trust 🔼+10.44%

COMMODITIES MARKET
*Brent Crude $/barrel⛽ $72.92 +1.47
+2.06%
*Natural Gas 🏭 $/million BTUS $4.94 -0.09 -1.85%
*Gold 👑 $/troy ounce $1,792.10 -7.90 -0.44%
*Silver 💍 $/troy ounce $23.90 -0.28 -1.15%
*Corn 🌽 $/bushel $517.50 +7.50 +1.47%
*Cocoa 🍫 $/metric ton $2,603.00 -70.00
-2.62%
*Coffee ☕ $/pound $188.05 +0.60
+0.32%
*Sugar🎂 $/pound $19.51 -0.41 -2.06%
*Lumber $/1000 board feet $607.60 +10.70 +1.79%
Rubber USd/kg $160.20 +1.30 +0.82%

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