BusinessHeadlines

Concern drivers plans to suspend decisions to increase lorry fares

Tullow Oil’s half year profit reached US$264 million ending June 2022. This represents about 183% increase over what it posted in the first half of 2021. The numbers were captured in the company’s half year profit released on 14 September 2022. The company also witnessed significant growth in its operations over the past year. Tullow’s revenue also reached $845 million accrued from an oil price of $87 a barrel. The oil exploration firm put its gross profit at $620 million ending June 2022. It also spent $380 million on investment and decommissioning for the first six months of 2022 .

The Bulk Oil Storage and Transportation Company Limited (BOST) recorded a performance of GH¢160.7 million in profit terms in 2021, against a loss of GH¢291.07 million in 2020. The company’s revenue from gasoline sales increased from GH¢140 million in 2020 to GH¢341 million in 2021 representing 144 percent while diesel sales also jumped from GH¢227 million in 2020 to GH¢331 in 2021, making an increase of 46 percent. Revenue from the BOST marine transportation business also shot up from GH¢2.9 million in 2020 t0 GH¢14.9 million in 2021 accounting for 412 percent with storage and rack revenue seeing a steady growth of four percent from GH¢50 million in 2020 to GH¢52.6million in 2021.

Nearly eight months after receiving $35 million in a Series-D funding round to expand its operations, mPharma, a healthcare startup led by Ghanaian entrepreneur Gregory Rockson, has announced the purchase of a majority stake in HealthPlus Pharmacy, Nigeria’s first integrative pharmacy chain. The announcement follows an agreement between mPharma and the previous investor, Alta Semper, that allowed the Ghana-based healthcare startup to purchase a majority stake in HealthPlus Group. According to Rockson, CEO and co-founder of mPharma, the acquisition aligns with the company’s mission to build a healthy Africa by providing life-changing healthcare services and drugs to patients.

The Concerned Drivers Association has announced plans to suspend its decision to raise transportation fares by 30%, which was set to go into effect on September 21, 2022. The Association and True Drivers Union announced this week that they intend to raise transportation fares by 30%. They claimed that the announced increase was due to an increase in fuel products, spare parts, and the government’s poor economic management. However, Paa Willie, the leader of the Concerned Drivers, told Nyankonton Mu Nsem that the planned increase has been suspended.

INTERBANK FOREX RATES
US$GH¢ Buy 8.2856 Sell 8.2938
GB£GH¢ Buy 9.4530 Sell 9.4641
CHFGH¢ Buy 8.5882 Sell 8.5967
AUD$GH¢ Buy 5.5442 Sell 5.5516
CAD$GH¢ Buy 6.2408 Sell 6.2473
JP¥GH¢ Buy 0.0580 Sell 0.0580
NZDGH¢ Buy 4.9458 Sell 4.9526
ZARGH¢ Buy 0.4685 Sell 0.4690
EU€GH¢ Buy 8.2921 Sell 8.3011
CHN¥GH¢ Buy 1.1834 Sell 1.1845
GH¢CFA Buy 79.0205 Sell 79.1063
GH¢NG₦ Buy 52.4784 Sell 52.5664

CRYPTOCURRENCY MARKET
Bitcoin $18,832.14 7.57%
Ethereum $1,306.13 6.83%
Binance Coin $261.89 2.38%
Ripple $0.3472 6.30%
Cardano $0.4423 2.94%
Solana $31.39 3.86%
Dogecoin $0.05718 3.68%

Bloomberg USDGHS Cross Rate – *10.0979* (YTD -️63.29%)

STANBIC BANK FX RATES
US$GH¢ Buy 9.4500 Sell 10.1000
GB£GH¢ Buy 10.6993 Sell 11.5019
EU€GH¢ Buy 9.3650 Sell 10.0768
CH¥GH¢ Buy 1.3415 Sell 1.4463

GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
BOPP ➡Gh¢6.48 +1.25%

GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
SCB ➡Gh¢20.24 -0.30%

〽Inflation rate in Ghana ➡ 33.90% (️+6.94%)

Ghana Reference Rate ➡ 26.50% (️+9.37%)

✳Policy Rate in Ghana ➡ 22.00% (️+15.79%)

¶ TREASURY RATES
91 – Day Discount Rate 27.4597% Interest Rate 29.4837%
182 – Day Discount Rate 26.8795% Interest Rate 31.0529%
364 – Day Discount Rate 23.0867% Interest Rate 30.0165%

IC SECURITIES GOG BOND RUNS – YIELDS TO MATURITY
1 Year Note – Bid 30.70% Ask 29.50%
2 Year Bond – Bid 31.00% Ask 29.70%
3 Year Bond – Bid 31.40% Ask 30.00%
5 Year Bond – Bid 32.00% Ask 30.50%
7 Year Bond – Bid 32.80% Ask 31.00%
10 Year Bond – Bid 33.00% Ask 31.50%
20 Year Bond – Bid 33.00% Ask 31.50%

Petroleum Products – Average Price
Petrol – Gh¢11.45/ltr (YTD-️+69.63%)
Diesel – Gh¢13.11/ltr (YTD-️+114.81%)

MARKET INDEXES
*Dow Jones Index⛽ 30,822.42 -139.40 -0.45%
*S&P 500 3,873.33 -28.02 -0.72%
*Nasdaq Index 11,448.40 -103.96 -0.90%
* NYSE Composite Index 14,573.91 -148.12 -1.01%
*London FTSE 7,236.68 -45.39 -0.62%
*Germany DAX 12,741.26 -215.40 -1.66%
*Japan NIKKEI 225 27,567.65 -308.26 -1.11%
*Tokyo TOPIX Index 1,938.56 -11.87 -0.61%
*Hong Kong HANG SENG 18,761.69 -168.69 -0.89%
*Shanghai Shenzhen 300 3,932.68 -94.44 -2.35%
*S&P/ASX 200 Index 6,739.08 -103.81 -1.52%
*Bloomsberg EU 500 267.55 -4.17 -1.53%
*France CAC All-Tradable 4,599.51 -62.23 -1.33%
*Dubai DFM General Index 3,489.33 +26.55 +0.77%
*MOEX Russia Index 2,435.18 -11.41 -0.47%
*FTSE/JSE South Africa 60,013.72 -977.74 -1.60%
*Nairobi SE 20 Share 1,747.84 -29.15 -1.64%
*Nigeria SE Main 49,475.42 -65.06 -0.13%
*BBG EMEA World Index 132.23 -1.37 -1.03%
*GSE Composite Index 2,499.90 -0.51 -0.02%
*GSE Financial Index 2,073.33 -1.40 -0.07%

GSE INDEXES ⏸ 2022 YTD RETURNS%
*GSE Composite Index 2,499.90 -10.38%
*GSE Financial Index 2,073.33 -3.65%

GSE 2022 GAINERS ➖ PRICE ➖ YTD%
SIC ➡Gh¢0.33 +312.50%
TBL ➡Gh¢0.48 +41.18%
ACCESS ➡Gh¢3.70 +17.46%
EGL ➡Gh¢3.20 +14.70%
GGBL ➡Gh¢2.05 +13.89%

GSE 2022 LOSERS ➖ PRICE ➖ YTD%
PBC ➡Gh¢0.02 -33.33%
FML ➡Gh¢3.00 -25.00%
GCB ➡Gh¢4.00 -23.66%
IIL ➡Gh¢0.04 -20.00%
MTNGH ➡Gh¢0.91 -18.02%

MUTUAL FUNDS IN GHANA♣
EQUITY FUNDS ➰YTD%
Databank EPAcK +6.45%
Republic Equity Trust +3.12%
Heritage Fund -3.99%
SAS Fortune Fund +5.01%

⚖BALANCED FUNDS ⏸ YTD%
EDC Balanced +6.07%
Databank Bfund +8.83%
Fidelity Balanced Trust +9.28%
Enhanced Equity Beta Fund +26.50%
CCMF +14.36%
CDH Balanced Fund +4.23%
CM Fund +9.99%
Dalex Vision Fund +7.32%
Plus Balanced Fund +23.16%
Elite Mutual Fund +9.33%
Republic Future Plan Trust +4.97%
Databank EdiFund Tier 2 +9.22%
UMB Balanced Fund +9.58%

⚙FIXED INCOME FUNDS YTD%
EDC Fixed Income +9.77%
Databank Mfund +11.71%
Fidelity Fixed Income Trust +8.57%
Financial Independence Fund +11.95%
Fixed Income Alpha Plus +19.33%
Nimed Fixed Income Fund Tier 1 +13.80%
Nimed Fixed Income Fund Tier 2 +11.43%
OctaneDC Bond Fund +11.42%
Plus Income Fund +11.92%
Stanlib Income Fund Trust +12.01%
Databank EdiFund T1 +12.54%

MONEY MARKET FUNDS ⏱YTD%
SAS Midas Fund +10.67%
First Fund +10.58%
Stanlib Cash Trust +11.89%
EDC Money Market Fund +10.82%
Republic Unit Trust +9.51%
Sirius Opportunity Fund +11.33%

COMMODITIES MARKET
*Brent Crude $/barrel⛽ $91.35 +0.51 +0.56%
*Natural Gas $/million BTUS $7.76 -0.56 -6.73%
*Gold $/troy ounce $1,683.50 +6.20 +0.37%
*Silver $/troy ounce $19.38 +0.11 +0.58%
*Corn $/bushel $677.25 -0.25 -0.04%
*Cocoa $/metric ton $2,360.00 -17.00 -0.72%
*Coffee ☕ $/pound $215.10 -1.30 -0.60%
*Sugar $/pound $17.56 -0.32 -1.79%
*Lumber $/1000 board feet $481.20 -9.10 -1.86%
Rubber USd/100kg $132.90 -1.10 -0.82%

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

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close