MTN Ghana reported a substantial revenue increase for the first half of 2024, reaching GH¢8.1 billion, marking a 31.1% rise from the GH¢6.1 billion recorded by June 2023.
The telecommunications giant attributed this growth to a surge in data usage, mobile money services, and digital revenue. MTN Ghana’s financial statement highlighted a 55.0% year-on-year increase in data revenue, amounting to GH¢4.0 billion.
This growth was propelled by a 15.9% rise in active data subscribers and a 7.2% increase in megabytes consumed per active user per month. MTN Ghana posted a profit before tax of GH¢3.3 billion, up 36.6% from GH¢2.4 billion in June 2023. MTN Ghana has proposed an interim dividend of GH¢0.065 per share, a 30.0% increase from 5 pesewas in 2023. The ex-dividend date is set for Wednesday, 14 August 2024.
🚩Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products in line with expected adjustments at the pumps. Star Oil has taken the lead, selling a litre of petrol for GH¢13.65 from its old price of GH¢13.93.
GOIL is also selling a litre of petrol and diesel at GH¢14.42 and GH¢14.99 respectively. Earlier, the Institute for Energy Security (IES) predicted that prices of petroleum products will fall between 2% and 4% for petrol, diesel, and Liquefied Petroleum Gas, beginning August 1, 2024. This follows the slowdown in the depreciation of the Ghana cedi during the second half of July 2024 and the favourable international market dynamics.
🚩Fitch has affirmed the issue rating on Ghana’s US dollar-denominated notes due October 2030 at ‘CC’. The notes benefit from a partial credit guarantee backed by the International Development Association of the World Bank for scheduled debt service payments up to 40% of the outstanding principal amount, supporting higher recoveries. The affirmation of Ghana’s bond partially guaranteed by IDA reflects Fitch’s estimation of a nominal recovery rate in the range 51% to 70%, although the modalities of the treatment of this bond are still being discussed. IDA has already made three coupon payments in 2023 and 2024.
INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 14.9621 Sell 14.9771
GB£GH¢ Buy 19.1306 Sell 19.1512
CHFGH¢ Buy 17.3677 Sell 17.3849
AUD$GH¢ Buy 9.7528 Sell 9.7633
CAD$GH¢ Buy 10.8027 Sell 10.8126
JP¥GH¢ Buy 0.1016 Sell 0.1017
NZDGH¢ Buy 8.9225 Sell 8.9340
ZARGH¢ Buy 0.8193 Sell 0.8194
EU€GH¢ Buy 16.3174 Sell 16.3336
CHN¥GH¢ Buy 2.0901 Sell 2.0912
GH¢CFA Buy 40.1600 Sell 40.1998
GH¢NG₦ Buy 107.0356 Sell 109.0063
CRYPTOCURRENCY MARKET
Bitcoin $55,981.98 🔼5.70%
Ethereum $2,523.89 🔼8.24%
Binance Coin $486.11 🔼11.27%
Ripple $0.5153 🔼8.76%
Solana $142.86 🔼18.07%
Cardano $0.3316 🔼7.48%
Dogecoin $0.09988 🔼9.77%
💵Bloomberg USDGHS Cross Rate – *15.5499* (YTD -🔺️-23.15%)
💰STANBIC BANK FOREX RATES💵
US$GH¢ Buy 15.0600 Sell 15.6900
ZARGH¢ Buy 0.8097 Sell 0.8815
GB£GH¢ Buy 19.0961 Sell 20.0048
EU€GH¢ Buy 16.2196 Sell 16.9923
🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
GCB ➡️Gh¢5.90 🔼+5.36%
BOPP ➡️Gh¢23.05 🔼+0.13%
🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
MTNGH ➡️Gh¢2.41 🔻-0.82%
〽Inflation rate in Ghana ➡️ 22.80%
🏦Ghana Reference Rate ➡️ 29.35%
✳Policy Rate in Ghana ➡️ 29.00%
¶ TREASURY RATES💸
91 – Day Discount Rate 23.3740% Interest Rate 24.8246%
182 – Day Discount Rate 23.6052% Interest Rate 26.7641%
364 – Day Discount Rate 21.7881% Interest Rate 27.8578%
🛢Petroleum Products – Average Price
🏗Petrol – Gh¢14.42/ltr (YTD🔺️+16.38%)
🛢Diesel – Gh¢14.99/ltr (YTD🔺️+15.39%)
⛽LPG – Gh¢14.00/kg (YTD🔺️+8.53%)
🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 38,703.27 -1,033.99 -2.60%
*S&P 500 🏦 5,186.33 -160.23 -3.00%
*Nasdaq Index📲💻 16,200.08 -576.08 -3.43%
* NYSE Composite Index 17,725.18 -437.08 -2.41%
*London FTSE 8,008.23 -166.48 -2.04%
*Germany DAX 17,339.00 -322.22 -1.82%
*Japan NIKKEI 225 31,458.42 -4,451.28 -12.40%
*Tokyo TOPIX Index2,227.15 -310.45 -12.23%
*Hong Kong HANG SENG 16,698.36 -247.15 -1.46%
*Shanghai Shenzhen 300 3,343.32 -41.07 -1.21%
*S&P/ASX 200 Index 7,649.56 -293.68 -3.70%
*S&P Europe 350 Index 2,022.19 -56.14 -2.70%
*France CAC All-Tradable 5,302.79 -80.81 -1.50%
*Dubai DFM General Index 4,045.90 -191.38 -4.52%
*MOEX Russia Index 3,123.43 +95.96 +3.17%
*FTSE/JSE South Africa 72,595.13 -854.29 -1.16%
*Nairobi SE 20 Share 1,642.76 -16.20 -0.98%
*Nigeria SE Main 97,582.44 -163.29 -0.17%
*GSE Composite Index 4,586.28 -16.88 -0.37%
*GSE Financial Index 2,115.52 +13.62 +0.65%
GSE INDEXES ⏸ 2024 YTD RETURNS%
*GSE Composite Index 4,586.28 🔼+46.52%
*GSE Financial Index 2,115.52 🔼+11.25%
🔼GSE 2024 GAINERS ➖ PRICE ➖ YTD%
UNIL ➡️Gh¢14.77 🔼 +82.12%
MTNGH ➡️Gh¢2.41 🔼+72.14%
GCB ➡️Gh¢5.90 🔼+73.53%
ACCESS ➡️Gh¢4.80 🔼+41.18%
GGBL ➡️Gh¢4.70 🔼+38.24%
TOTAL ➡️Gh¢12.33 🔼+37.00%
SCB ➡️Gh¢20.10 🔼+14.53%
🔻GSE 2024 LOSERS ➖ PRICE ➖ YTD%
EGL ➡️Gh¢1.55 🔻-35.15%
CAL ➡️Gh¢0.34 🔻-29.17%
MMH ➡️Gh¢0.10 🔻-9.09%
DASPHARMA ➡️Gh¢0.38 🔻-5.00%
SOGEGH ➡️Gh¢1.55 🔻-1.27%
COMMODITIES MARKET
*Brent Crude USD/barrel⛽ 76.30 -0.51 -0.66%
*Natural Gas 🏭 USD/millon BTUS 1.96 +0.01 +0.72%
*Gold 👑 USD/troy ounce 2,452.60 +8.20 +0.34%
*Silver 💍 USD/troy ounce 27.34 +0.13 +0.49%
*Corn 🌽 USd/bushel 407.00 +3.75 +0.93%
*Cocoa 🍫 USD/metric ton 6,676.00 +134.00 +2.05%
*Coffee ☕ USd/pound 225.70 -4.80 -2.08%
*Sugar🎂 USd/pound 18.08 -0.02 -0.11%
*Rubber USd/100kg 169.10 -0.10 -0.06%
Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Ghana News Agency, Norvan Reports.
