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BUSINESS NEWS: World Bank approves $100 million Ghana Project,Dollar Rate etc

BUSINESS NEWS | GHANA AND BEYOND 06/04/2021

🚩The World Bank has approved the $100 million Ghana Productive Safety Net Project 2 (GPSNP 2). The project will support the Government of Ghana to expand and strengthen its social safety net program which will directly benefit over 1.6 million people in the country. The project will help to improve the incomes and productivity of the poor and vulnerable. In recent years, the pace of poverty reduction has slowed in Ghana, and the association between economic growth and poverty reduction has weakened. The coronavirus pandemic and accompanying global economic crisis has also served as a major setback to Ghana’s prospects for further reductions in poverty.

🚩The Bank of Ghana (BoG) has joined the Basel Consultative Group (BCG), a global body that sets and implements standards on banking supervision. In a statement the bank said it was admitted into the global body, making Ghana one of four countries in Africa which are members of the BCG. The other members are Tunisia, Mauritius and Nigeria. The BCG is one of five working groups that form the internal structure of the Basel Committee for Banking Supervision (BCBS), the global standards-setting body for the supervision of banks. The statement said the BoG’s membership of the BCG would increase the exposure of its banking supervisory staff to best practices in the supervision of banks, and strengthen its cooperation with other supervisory authorities around the world.

🚩The Canadian government has supported the country with developmental projects worth about 50 million Canadian dollars over the last couple of years. According to the Canadian High Commissioner to Ghana, Kati Csaba, about 150,000 dollars is being channeled into the agricultural sector and other support schemes to help the country achieve sustained economic growth. “We provide bilateral portfolio development projects to Ghana every year, approximately worth 50 million Canadian dollars. Each of those projects being funded within that portfolio is developed over a longer period of time. And we have been supporting work in inclusive economic growth, supporting the agricultural growth of Ghana which is our flagship programme with 125 million Canadian dollars allocated towards that,” she said. Meanwhile, the Canadian government has announced 30 million Canadian dollars, the equivalent of GH¢138 million Ghana to support four innovative projects over a period of four to five years. 31,000 Ghanaian women across the country are expected to directly benefit from the funding.

🚩The Tema Oil Refinery Ltd (TOR) has debunked claims by Woodfields Energy Resources Ltd that there are shortfalls in the product volumes held in tanks at the refinery. According to TOR, the claim that there was a shortfall of Woodfields’ products, equivalent to $5.7 million, was unfounded, as it is not established by any ongoing product reconciliation exercise with Woodfields Energy Resources Ltd. In a statement issued by TOR, Corporate and Public Affairs Manager, Dr Kingsley Antwi Boasiako, said, it rejected “in no uncertain terms the erroneous impression being created by Woodfields” that the refinery had caused such a shortfall of products initially under its care.”

 

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 5.7269 Sell 5.7327
GB£GH¢ Buy 7.9158 Sell 7.9243
CHFGH¢ Buy 6.0699 Sell 6.0755
AUD$GH¢ Buy 4.3560 Sell 4.3607
CAD$GH¢ Buy 4.5558 Sell 4.5602
JP¥GH¢ Buy 0.0518 Sell 0.0519
NZDGH¢ Buy 4.0173 Sell 4.0224
ZARGH¢ Buy 0.3910 Sell 0.3912
EU€GH¢ Buy 6.7334 Sell 6.7406
CHN¥GH¢ Buy 0.8722 Sell 0.8733
GH¢CFA Buy 97.3143 Sell 97.4184
GH¢NG₦ Buy 71.3445 Sell 71.5557

CRYPTOCURRENCY MARKET
Bitcoin $58,992.30 🔼0.44%
Ethereum $2,133.43 🔼1.01%
Binance Coin $379.33 🔼5.11%
Ripple $0.8835 🔼42.19%
Cardano $1.21 🔼2.24%
Polkadot $44.84 🔼0.87%
Uniswap $32.12 🔼1.99%
THETA $11.61 🔻-2.45%
Litecoin $223.69 🔼8.00%
Chainlink $31.17 🔼4.92%
Stellar $0.5106 🔼21.77%
Bitcoin Cash $648.70 🔼13.42%
Dogecoin $0.05897 🔼4.07%
BitTorrent $0.01074 🔼5.46%
Filecoin $176.77 🔼+38.86%

💵Bloomberg USDGHS Cross Rate – *5.7593* (YTD – 🔽-1.67%)

🔼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 12.4729% Interest Rate 12.8744%
182 – Day Discount Rate 12.7814% Interest Rate 13.6540%
364 – Day Discount Rate 14.2159% Interest Rate 16.5717%
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🚂⛽ 33,527.19 +373.98 +1.13%
*S&P 500 🏦 4,077.91 +58.04 +1.44%
*Nasdaq Index📲💻 13,705.59 +225.49 +1.67%
* NYSE Composite Index 15,870.34 +118.10 +0.75%
*London FTSE 6,737.30 +23.67 +0.35%
*Germany DAX 15,107.17 +98.83 +0.66%
*Japan NIKKEI 225 30,089.25 +235.25 +0.79%
*Tokyo TOPIX Index 1,983.54 +11.92 +0.60%
*Hong Kong HANG SENG 28,938.74 +560.39 +1.97%
*Shanghai Shenzhen 300 5,161.56 +50.78 +0.99%
*S&P/ASX 200 Index 6,828.69 +38.03 +0.56%
*Bloomsberg EU 500 286.71 +0.23 +0.08%
*France CAC All-Tradable 4,723.51 +33.98 +0.72%
*Dubai DFM General Index 2,573.32 +23.26 +0.91%
*MOEX Russia Index 3,524.93 -33.29 -0.94%
*FTSE/JSE South Africa Top40 61,590.24 +709.09 +1.16%
*Nairobi SE 20 Share 1,864.44 +18.03 +0.98%
*Nigeria SE Main-Board 38,930.68 -114.45 -0.29%
*BBG EMEA World Index 150.70 +0.57 +0.38%
*GSE Composite Index 2,213.29 0.00
0.00%
*GSE Financial Index 1,845.92 0.00 0.00%

🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%
MTNGH ➡Gh¢0.85 🔼+32.81%
SOGEGH ➡Gh¢0.75 🔼+17.19%
TOTAL ➡Gh¢3.15 🔼+11.31%
SCB ➡Gh¢18.15 🔼+11.28%
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%
ACCESS ➡Gh¢4.30 🔻-2.05%

GSE INDEXES ⏸ 2021 YTD RETURNS%
*GSE Composite Index 2,213.29 🔼+13.99%
*GSE Financial Index 1,845.92 🔼+3.54%

💧MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰YTD%
Databank EPAcK 🔼+2.75%
SAS Fortune 🔼+5.59%
Republic Equity Trust 🔼+3.31%

⚖BALANCED FUNDS ⏸ YTD%
Databank Bfund 🔼+4.57%
EDC Balanced 🔼+6.16%
CM Fund 🔼+3.71%
CDH Balanced Fund 🔼+3.06%
CCMF 🔼+3.56%
Republic Future Plan Trust 🔼+3.05%
Databank EdiFund T 2 🔼+4.15%
Dalex Vision Fund 🔼+4.78%
Plus Balanced Fund 🔼+5.21%
Fidelity Balanced Trust 🔼+6.23%

⚙FIXED INCOME FUNDS 🛡YTD%
EDC Fixed Income 🔼+3.84%
Fidelity Fixed Income Trust 🔼+4.33%
Fixed Income Alpha Plus 🔼+4.14%
Plus Income Fund 🔼+4.44%
NIMED Fixed Income Tier 1 🔼+3.59%
NIMED Fixed Income Tier 2 🔼+4.01%
Databank Mfund 🔼+4.03%

MONEY MARKET FUNDS ⏱YTD%
Databank EdiFund T1 🔼+4.03%
EDC Money Market Fund 🔼+3.05%
Republic Unit Trust 🔼+3.64%

✴ COMMODITIES MARKET
*Brent Crude $/barrel⛽ $62.25 -2.61 -4.02%
*Natural Gas 🏭 $/million BTUS $2.51 -0.13 -4.85%
*Gold 👑 $/troy ounce $1,728.80 +0.40 +0.02%
*Silver 💍 $/troy ounce $24.78 -0.17 -0.67%
*Corn 🌽 $/bushel $553.25 -6.50 -1.16%
*Cocoa 🍫 $/metric ton $2,364.00 -52.00 -2.15%
*Coffee ☕ $/pound $122.10 +0.50 +0.41%
*Sugar🎂 $/pound $14.84 +0.13 +0.88%
*Lumber $/1000 board feet $1,021.00 +8.40 +0.83%
Rubber USd/kg $165.10 +1.40 +0.86%

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

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