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BUSINESS NEWS: Ghana Revenue Authority achieve its 2021 budget target

BUSINESS NEWS: Ghana Revenue Authority achieve its 2021 budget target

The Ghana Revenue Authority (GRA) has achieved its revenue target in the 2021 Budget. Data released indicate that the Authority was able to collect a little over GH¢57.32 billion as against a target of GH¢57.02 billion. This, the officials of the Authority, say represents a growth rate of 26.3 per cent over the 2020 revenue and is the highest annual growth in the last ten years. The Domestic Tax Revenue Division collected GH¢41.23 billion. This performance is an improvement of 25.6 per cent over the 2020 revenue performance. While the Customs Division collected an amount of GH¢16.08 billion, representing 26.8 per cent over the 2020 performance.

🚩Tullow Ghana Limited and the Ghana Navy have signed a Memorandum of Understanding for the contracting of a Ghanaian Navy vessel to provide security services at the Jubilee and TEN oil fields.
The vessel, which has been acquired for the Ghana Navy with funding from the GCB Bank PLC, will provide asset protection in the Exclusive Economic zone in the TEN and Jubilee fields. A statement said Tullow Ghana and the Jubilee Partners will provide a total of a $23.5million-dollars during the five-year (5 year) contract period. The five-year contract commenced on January 1, 2022 and will run until 31st December 2026.

🚩A report by Fitch Ratings has indicated that revenue generation measures proposed in the 2022 Budget including the e-levy would help the country raise its revenue to GDP ratio to 20 percent. According to Fitch, the new revenue measures by the government and the reduction in COVID-19 related expenditure would help increase the revenue to GDP ratio to 20 percent in 2022 from the estimated 15.4 percent for 2021. “The government’s fiscal consolidation plans are focused on revenue measures adopted in the 2022 budget, including a new 1.75% e-levy on certain digital transactions and changes to the calculation of certain taxes and import duties.”

 

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 6.0033 Sell 6.0093
GB£GH¢ Buy 8.1939 Sell 8.2027
CHFGH¢ Buy 6.5683 Sell 6.5748
AUD$GH¢ Buy 4.3288 Sell 4.3343
CAD$GH¢ Buy 4.7957 Sell 4.8003
JP¥GH¢ Buy 0.0524 Sell 0.0524
NZDGH¢ Buy 4.0797 Sell 4.0849
ZARGH¢ Buy 0.3901 Sell 0.3902
EU€GH¢ Buy 6.8465 Sell 6.8533
CHN¥GH¢ Buy 0.9460 Sell 0.9464
GH¢CFA Buy 95.7140 Sell 95.8091
GH¢NG₦ Buy 69.2057 Sell 69.9998

CRYPTOCURRENCY MARKET
Bitcoin $42,070.32 🔻1.38%
Ethereum $3,181.63 🔻2.40%
Binance Coin $470.93 🔻2.58%
Solana $138.83 🔻2.82%
Cardano $1.57 🔼8.13%
Ripple $0.7541 🔻1.18%
Dogecoin $0.169 🔻0.56%
Polkadot $76.62 🔻1.17%
Terra $76.60 🔻7.95%
Avalanche $86.16 🔻6.27%

💵Bloomberg USDGHS Cross Rate – *6.2534* (YTD – 🔺️1.12%)

💰STANBIC BANK FX RATES💵
US$GH¢ Buy 6.2000 Sell 6.4300
GB£GH¢ Buy 8.4661 Sell 8.8059
EU€GH¢ Buy 7.0680 Sell 7.3611
CH¥GH¢ Buy 0.9735 Sell 1.0193

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
EGL ➡Gh¢3.00 🔼+7.53%

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

GSE INDEXES ⏸ 2022 YTD RETURNS%
*GSE Composite Index 2,765.46 🔻-0.86%
*GSE Financial Index 2,152.99 🔼+0.05%

🔼GSE 2022 GAINERS ➖ PRICE ➖ YTD%
EGL ➡Gh¢3.00 🔼+7.53%
TBL ➡Gh¢0.35 🔼+2.94%

🔻GSE 2022 LOSERS ➖ PRICE ➖ YTD%
PBC ➡Gh¢0.02 🔻-33.33%
CAL ➡Gh¢0.82 🔻-5.75%
MTNGH ➡Gh¢1.09 🔻-1.80%
FML ➡Gh¢3.95 🔻-1.25%

〽Inflation rate in Ghana ➡ 12.60% (🔺️+3.28%)

🏦Ghana Reference Rate ➡ 13.90% (🔺️+0.07%)

✳Policy Rate in Ghana ➡ 14.50% (🔽+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 12.1412% Interest Rate 12.5213%
182 – Day Discount Rate 12.3908% Interest Rate 13.2092%
364 – Day Discount Rate 14.2689% Interest Rate 16.6438%
1 Year Fixed Note Interest Rate 16.5672%
2 Year Fixed Note Interest Rate 19.7500%
3 Year Bond Interest Rate 20.5000%
5 Year Bond Interest Rate 21.0000%
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¢7.00 (YTD -🔺️+3.70%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 35,911.81 -201.81 -0.56%
*S&P 500 🏦 4,662.85 +3.82 +0.08%
*Nasdaq Index📲💻 14,893.75 +86.94 +0.59%
* NYSE Composite Index 17,219.06 -39.96 -0.23%
*London FTSE 7,611.23 +68.28 +0.91%
*Germany DAX 15,933.72 +50.48 +0.32%
*Japan NIKKEI 225 28,333.52 +209.24 +0.74%
*Tokyo TOPIX Index 1,986.71 +9.05 +0.46%
*Hong Kong HANG SENG 24,218.03 -165.29 -0.68%
*Shanghai Shenzhen 300 4,767.28 +40.55 +0.86%
*S&P/ASX 200 Index 7,417.31 +23.45 +0.32%
*Bloomsberg EU 500 317.09 +2.01 +0.64%
*France CAC All-Tradable 5,474.16 +41.87 +0.77%
*Dubai DFM General Index 3,179.35 -22.42 -0.70%
*MOEX Russia Index 3,560.35 -36.63 -1.02%
*FTSE/JSE South Africa 68,889.25 +441.10 +0.64%
*Nairobi SE 20 Share 1,890.59 -9.20 -0.48%
*Nigeria SE Main 44,399.66 -55.01 -0.12%
*BBG EMEA World Index 164.95 +0.87 +0.53%
*GSE Composite Index 2,765.46 +3.43 +0.12%
*GSE Financial Index 2,152.99 +6.23 +0.29%

🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%
FML ➡Gh¢4.00 🔼+270.37%
BOPP ➡Gh¢6.65 🔼+232.50%
GGBL ➡Gh¢1.80 🔼+100.00%
EGL ➡Gh¢2.79 🔼+99.29%
SOGEGH ➡Gh¢1.20 🔼+87.50%

🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%
CPC ➡Gh¢0.02 🔻-33.33%
UNIL ➡Gh¢5.89 🔻-28.95%
ACCESS ➡Gh¢3.15 🔻-28.25%
MAC ➡Gh¢5.39 🔻-9.87%
ALW ➡Gh¢0.10 🔻-9.09%

GSE INDEXES ⏸ 2021 YTD RETURNS%
*GSE Composite Index 2,789.34 🔼+43.66%
*GSE Financial Index 2,151.85 🔼+20.70%

💧2021 RETURNS FOR MUTUAL FUNDS IN GHANA♣
📈EQUITY FUNDS ➰ Y/E%
Databank EPAcK 🔼+30.98%
Republic Equity Trust 🔼+22.74%
SAS Fortune Fund 🔼+21.11%

⚖BALANCED FUNDS ⏸ 2021 Y/E%
EDC Balanced 🔼+30.65%
Databank Bfund 🔼+25.81%
Fidelity Balanced Trust 🔼+23.20%
CCMF 🔼+18.67%
CDH Balanced Fund 🔼+18.47%
CM Fund 🔼+17.05%
Dalex Vision 🔼+9.60%
Plus Balanced Fund 🔼+16.16%
Elite Mutual Fund 🔼+14.29%
Republic Future Plan Trust 🔼+17.56%
UMB Balanced Fund 🔼+11.04%
Databank EdiFund Tier 2 🔼+22.45%

⚙FIXED INCOME FUNDS 🛡 Y/E%
EDC Fixed Income 🔼+16.43%
Databank Mfund 🔼+19.82%
Fidelity Fixed Income Trust 🔼+18.48%
Financial Independence Fund 🔼+16.51%
Fixed Income Alpha Plus 🔼+18.55%
Nimed Fixed Income Fund Tier 1 🔼+15.43%
Nimed Fixed Income Fund Tier 2 🔼+16.95%
Plus Income Fund 🔼+14.73%
Stanbic Income Fund Trust 🔼+17.77%
Databank EdiFund T1 🔼+19.98%

MONEY MARKET FUNDS ⏱Y/E%
SAS Midas Fund 🔼+15.94%
Stanbic Cash Trust 🔼+13.69%
EDC Money Market Fund 🔼+15.55%
Republic Unit Trust 🔼+15.00%

COMMODITIES MARKET
*Brent Crude $/barrel⛽ $86.60 +0.54 +0.63%
*Natural Gas 🏭 $/million BTUS $4.25 -0.01 -0.26%
*Gold 👑 $/troy ounce $1,818.90 +2.40 +0.13%
*Silver 💍 $/troy ounce $23.04 +0.12v+0.51%
*Corn 🌽 $/bushel $596.25 +8.75 +1.49%
*Cocoa 🍫 $/metric ton $2,659.00 +50.00 +1.92%
*Coffee ☕ $/pound $239.65 +2.65 +1.12%
*Sugar🎂 $/pound $18.31 +0.22 +1.22%
*Lumber $/1000 board feet $ 1,308.70 -20.30 -1.53%
Rubber USd/100kg $180.00 -2.50 -1.37%

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

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