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BUSINESS NEWS: Price of petrol increased

 

Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) has been downgraded to ‘B-’ from an earlier ‘B’ rating. According to the international ratings agency Fitch, this spells out a negative economic outlook for Ghana. Fitch, in its latest report, explained the downgrade of Ghana’s IDRs and Negative Outlook reflect the sovereign’s loss of the country’s access to international capital markets in the second-half of 2021, following a pandemic-related [COVID-19] surge in government debt. “This comes in the context of uncertainty about the government’s ability to stabilise debt and against a backdrop of tightening global financing conditions. In our view, Ghana’s ability to deliver on planned fiscal consolidation efforts could be hindered by the heavier reliance on domestic debt issuance with higher interest costs, in the context of an already exceptionally high interest expenditure to revenue ratio,” Fitch said in its report on Ghana.

🚩The price of Petrol has also been increased from Gh¢6.80 pesewas to Gh¢6.99 pesewas per litre. Percentage-wise, a litre of Diesel at Total’s service stations in the country has gone up by 2.91 percent per litre and 2.79 percent for the price Petrol per litre. The upward adjustments come after the Chamber of Petroleum Consumers (COPEC) had predicted that prices of petrol and diesel were expected to surge by 3.7% and 2.5% respectively. In nominal terms, COPEC said, ex-pump prices of petrol and diesel were expected to increase by 24 pesewas and 17 pesewas respectively. “The average surge for both products in nominal terms is 20 pesewas representing 3.1%. Some Oil Marketing Companies (OMCs) could increase their prices by less than the 20 pesewas due to competition,” a statement issued by COPEC indicated on Monday, January 3.

🚩The Securities and Exchange Commission (SEC) has cautioned investors and the general public against doing business with one ‘Tizaa Ghana Fund’. A statement issued by the Commission said the Fund has not been licensed to perform any activities in the capital market. It further cautioned that ‘Tizaa Ghana Fund’ is also not under the regulation of the Securities and Exchange Commission and urged the public to be circumspect and desist from making investments with the firm. “Tizaa Ghana Fund has not been licensed to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929),” the Commission warned.

🚩Prudential Africa has signed a sponsorship agreement with the Confederation of African Football (CAF) to become the official insurance partner of the 33 edition of Africa Cup of Nations (AFCON) 2021. At a press conference to announce the sponsorship, Eric Mboma, Chief Representative Officer, Prudential Northern Africa Region said the sponsorship underscores Prudential’s commitment to the African continent. Commenting on the partnership, Confederation of African Football (CAF) General Secretary, Véron Mosengo-Omba said, “We are excited and pleased to have on board Prudential as a partner. We share a common purpose in our commitment to developing local talent as well as driving prosperity for the people of Africa.”

🚩The producers of the popular Frytol cooking oil, Wilmar Africa Limited are shutting down their Ghana plant over operational difficulties. The company in a statement said the introduction of the benchmark policy by government-created difficulties for them as unfair competition from inferior products overwhelmed them. It said it was hoping for the reversal of the policy by the government. “This has made it very difficult for us to sell in the local market because imported oils from Asia are selling far cheaper than our product. The unit cost of our oil is high as compared to the imported ones as we have to contend with all the overheads in our cost build-up.

 

✴INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 6.0033 Sell 6.0093
GB£GH¢ Buy 8.2137 Sell 8.2225
CHFGH¢ Buy 6.5826 Sell 6.5891
AUD$GH¢ Buy 4.3442 Sell 4.3497
CAD$GH¢ Buy 4.7899 Sell 4.7945
JP¥GH¢ Buy 0.0528 Sell 0.0528
NZDGH¢ Buy 4.0954 Sell 4.0998
ZARGH¢ Buy 0.3907 Sell 0.3911
EU€GH¢ Buy 6.8596 Sell 6.8664
CHN¥GH¢ Buy 0.9449 Sell 0.9458
GH¢CFA Buy 95.5314 Sell 95.6261
GH¢NG₦ Buy 69.2939 Sell 69.3505

CRYPTOCURRENCY MARKET
Bitcoin $42,700.68 🔻0.81%
Ethereum $3,267.09 🔻1.40%
Binance Coin $484.10 🔻6.43%
Solana $143.29 🔻2.63%
Cardano $1.50 🔻9.28%
Ripple $0.7635 🔻1.88%
Dogecoin $0.1715 🔼5.32%
Polkadot $26.71 🔼4.23%
Terra $83.51 🔻0.75%
Avalanche $89.22 🔻3.23%

💵Bloomberg USDGHS Cross Rate – *6.2450* (YTD – 🔺️0.98%)

💰STANBIC BANK FX RATES💵
US$GH¢ Buy 6.2000 Sell 6.4200
GB£GH¢ Buy 8.4959 Sell 8.8384
EU€GH¢ Buy 7.0934 Sell 7.3862
CH¥GH¢ Buy 0.9745 Sell 1.0157

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
TBL ➡Gh¢0.35 🔼+2.94%
MTNGH ➡Gh¢1.09 🔼+0.93%

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
CAL ➡Gh¢0.82 🔻-5.75%
FML ➡Gh¢3.95 🔻-1.25%

GSE INDEXES ⏸ 2022 YTD RETURNS%
*GSE Composite Index 2,762.03 🔻-0.98%
*GSE Financial Index 2,146.76 🔻-0.24%

🔼GSE 2022 GAINERS ➖ PRICE ➖ YTD%
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 7,542.95 -20.90 -0.28%
*Germany DAX 15,883.24 -148.35 -0.93%
*Japan NIKKEI 225 28,124.28 -364.85 -1.28%
*Tokyo TOPIX Index 1,977.66 -27.92 -1.39%
*Hong Kong HANG SENG 24,383.32 -46.45 -0.19%
*Shanghai Shenzhen 300 4,726.73 -39.19 -0.82%
*S&P/ASX 200 Index 7,393.86 -80.50 -1.08%
*Bloomsberg EU 500 315.08 -2.34 -0.74%
*France CAC All-Tradable 5,432.29 -45.94 -0.84%
*Dubai DFM General Index 3,201.77 -12.83 -0.40%
*MOEX Russia Index 3,596.98 -77.75
-2.12%
*FTSE/JSE South Africa 68,448.15 -739.58 -1.07%
*Nairobi SE 20 Share 1,899.79 +14.16 +0.75%
*Nigeria SE Main 44,454.67 -150.07 -0.34%
*BBG EMEA World Index 164.08 -1.70 -1.03%
*GSE Composite Index 2,762.03 +8.38 +0.30%
*GSE Financial Index 2,146.76 -5.09 -0.24%

🔼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⛽ $86.06 +1.59 +1.88%
*Natural Gas 🏭 $/million BTUS $4.26 -0.01 -0.19%
*Gold 👑 $/troy ounce $1,816.50 -4.90 -0.27%
*Silver 💍 $/troy ounce $22.92 -0.24 -1.05%
*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 $182.50 +2.60 +1.45%

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

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