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Clydestone Group Annual Report and Consolidated Financial Statements
CLYDESTONE GROUP ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER, 2016 Clydestone Group Consolidated financial statements for the year ended 31 December, 2016 Page Contents Reference Corporate information - Report of the Directors 2-3 Statement of Directors’ responsibilities 4 Report of the independent auditor 5 – 11 Financial statements: Consolidated statement of profit or loss and other comprehensive income 12 Consolidated statement of financial position 13 Consolidated statement of changes in equity 14 Consolidated statement of cash flow 15 - 16 Notes to the financial statements 17 - 43 Clydestone Group Financial statements for the year ended 31 December, 2016 Corporate information Directors Paul Jacquaye Robert Alloh Edward K.A. Amuh Tinawurah Satuh Company secretary Samuel Adjetey Registered office Adebeto Close North Labone P. O. Box CT 1003 Accra Independent auditor’s UHY Voscon Chartered Accountants No. C806/4, Boundary Road, Tudu, Accra Adjacent to City Paints Supply P. O. Box LA 476 La, Accra. Solicitors Alloh & Partners. P. O. Box NT 478 New Town, Accra Bankers Unibank Ghana Limited Fidelity Bank Limited UBA (Gh) Limited Firstrust Savings & Loans Limited Zenith Bank (Gh) Limited Registrars NTHC Limited Martco House P. O. Box KA 9563 Airport, Accra Ghana Report of the Group Directors to the Members of Clydestone Group The Group Directors have the pleasure in submitting to the shareholders their report together with the audited financial statements of Clydestone Group for the year ended 31 December, 2016. Nature of business The Group is engaged in Information and Communication Technology, specializing in payment systems-comprising Cheque Code Line Truncation, Transaction Processing and Switching Services to banks and independent service organisations system integration and outsourcing. -
2016 Annual Aggregate Report
2016 REPUBLIC OF GHANA MINISTRY OF FINANCE, GHANA SOE ANNUAL AGGREGATE REPORT Table of Contents ACRONYMS ..................................................................................................................................................................................................... 2 ACKNOWLEDGEMENT ..................................................................................................................................................................................... 3 FOREWORD ..................................................................................................................................................................................................... 4 STATEMENT FROM EXECUTIVE CHAIRMAN, STATE ENTERPRISES COMMISSION (SEC) .................................................................................. 5 EXECUTIVE SUMMARY .................................................................................................................................................................................... 6 1 INTRODUCTION ...................................................................................................................................................................................... 7 2 OVERVIEW OF THE SOE SECTOR ............................................................................................................................................................ 8 3 CONTRIBUTION OF THE SOE SECTOR .................................................................................................................................................... -
Market Review [H1-2017]
Half-Year Market Review [H1-2017] July 2017 Economic Overview GDP Growth: Aided by increased crude oil production, the economy expanded by 6.6 percent on year-on-year basis in the first quarter of 2017 compared to 4.4 percent in the same period in 2016. The non-oil sector GDP growth stood at 3.9 percent relative to 6.3 percent recorded for the same period in 2016. Economic growth has been weak since 2014, with GDP staying around 4 percent, due to lower prices for Monetary Policy Easing: The Bank of Ghana reduced commodity exports and a fiscal crisis. The government its policy rate by 300 basis points during the first half has projected a GDP growth of 6.3 percent in 2017. of the year citing positive inflation outlook and a Fiscal Deficit: Central government operations for the relatively stable Ghana cedi. The benchmark interest first half of the year was largely in line with targets in rate was lowered 200 basis points in March to 23.50 the 2017 budget. Fiscal operations for the first half percent and further lowered by 100 basis points in May resulted in a cash deficit of 2.7 percent of GDP, against to 22.50 percent. a set target of 3.5 percent, mainly due to expenditure controls even as revenue fell below target. Total Fixed Income Market expenditure stood at 23.0 billion cedis against a target of 27.6 billion cedis whereas total revenue and grants Yields on GoG domestic securities trended downwards stood at 17.5 billion cedis against a target of 20.5 during the first half of the year, signaling a drive billion cedis. -
WEEKLY MARKET REVIEW 14 February 2020
DATABANK RESEARCH WEEKLY MARKET REVIEW 14 February 2020 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Weekly Market Review DSI-20 Index 98.39 98.17 0.23% The equity market indices posted a weekly gain. The GSE-CI Level 2,203.63 2,196.72 0.31% Market Cap (GH¢ m) 56,625.40 56,553.66 0.13% benchmark composite index closed 0.31% higher at YTD Return DSI-20 -2.50% -2.73% 2,203.63 points, reflecting an improved YTD return of - YTD Return GSE-CI -2.37% -2.68% 2.37%. The DSI-20 Index also expanded 0.23% w/w to Weekly Volume Traded (Shares) 4,621,673 2,481,186 86.27% 98.39 points, representing a YTD return of -2.50%. Weekly Turnover (GH¢) 3,130,797 2,078,982 50.59% Avg. Daily Volume Traded The indices were lifted by gains in SCB (+0.21% w/w, 2,044,789 2,260,261 -9.53% (Shares) GH¢19.04), MTNGH (+1.52% w/w, GH¢0.67) and SIC Avg. Daily Value Traded (GH¢) 1,633,928 1,827,729 -10.60% (+12.50% w/w, GH¢0.09). However, the gains in the No. of Counters Traded 22 20 indices were limited by declines in EGH (-1.14% w/w, No. of Gainers 3 1 GH¢7.80), GGBL (-4.14% w/w, GH¢1.62), EGL (-2.44% No. of Laggards 4 6 w/w, GH¢1.60) and FML (-0.24% w/w, GH¢4.09). -
Guin April 28, 2017
April 28, 2017 GSE MARKET STATISTICS SUMMARY Weekly Stock Market Review GSE-CI Extends Gains: The equities market ended the week in the positive Current Previous % Change territory anchored on price gains in 8 counters. The Ghana Stock Exchange’s Databank Stock Index 24,800.75 24,672.90 0.52 Composite Index (GSE-CI) gained 10.37 points w/w to ~1,896 points, while GSE-CI Level 1,896.13 1,885.76 0.55 the Databank Stock Index surged by 128 points w/w to ~24,800 points. The Market Cap (GH¢ m) 58,822.68 48,778.78 20.59 year to date returns of the GSE-CI and the Databank Stock Index stand at YTD Return DSI 11.05% 10.48% 12.26% and 11.05% respectively. YTD Return GSE-CI 12.26% 11.64% Weekly Volume Traded (Shares) 2,142,471 1,812,263 18.22 A block trade in Ecobank Transnational Inc. propelled the volume of shares Weekly Turnover (GH¢) 2,785,677 1,639,744 69.88 traded by ~17% w/w to ~2.1 million shares. These trades, which occurred Avg. Weekly Volume Traded (Shares) 1,059,295 1,049,043 0.98 across 22 counters, were valued at ~GH¢2.7 million. Avg. Weekly Value Traded (GH¢) 1,473,386 1,460,057 0.91 The market breadth of the Ghana Stock Exchange was positive w/w: 8 No. of Counters Traded 22 21 gainers to 3 laggards. Unilever Ghana increased by 15Gp to GH¢9.05. Access No. of Gainers 8 6 Bank Ghana moved up 10Gp to GH¢4.00. -
THE DATABANK BALANCED FUND LIMITED 2010 Annual Report
AUDITED FULL YEAR REPORT 2010 THE DATABANK BALANCED FUND LIMITED 2010 Annual Report 1 THE DATABANK BALANCED FUND LIMITED 2ii AUDITED FULL YEAR REPORT 2010 THE DATABANK BALANCED FUND LIMITED Audited Full Year Report For The Period Ended December 31, 2010 1 THE DATABANK BALANCED FUND LIMITED 2 AUDITED FULL YEAR REPORT 2010 CONTENTS Notice of Annual General Meeting 04 Chairman’s Statement to Shareholders 05 Performance Summary 09 Portfolio at a Glance 10 Interview with your Fund Manager 11 Report of Directors 14 Report of the Auditors 15 Statement Of Net Assets 16 Statement of Assets and Liabilities 17 Income and Distribution Accounts 18 Statement of Movement In Net Assets and Issued Shares 19 Notes to Financial Statements 21 Custodian’s Report 26 Corporate Information 29 Directors and Officers Information 30 Proxy Form 34 This report shall not constitute an invitation to buy shares of the Fund. Subscriptions are to be made only on the basis of the current scheme particulars, accompanied by a copy of the latest available annual report, and if published thereafter, the most recent half year report. 3 THE DATABANK BALANCED FUND LIMITED NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the 3rd Annual General Meeting of the shareholders of Databank Balanced Fund Limited will be held at the National Theatre, Accra, Ghana on Friday the 29th of July 2011 at 11:00a.m for the following purposes: 1. To consider the Directors’ Report and the Report of the Auditors for the year ended December 31, 2010. 2. To receive and adopt the Statement of Assets and Liabilities and Statement of Operations for the year ended December 31, 2010 3. -
Press Release
PRESS RELEASE PZ CUSSONS GHANA LIMITED ANNOUNCES COMMENCEMENT OF TENDER OFFER Accra, 03 July, 2020 – PZ Cussons Ghana Limited (“PZ Cussons” or the “Company”) wishes to announce the Company’s tender offer (the “Offer”) to existing Qualifying Shareholders of PZ Cussons to purchase fully the entire shareholding of each Qualifying Shareholder. In this regard, PZ Cussons shall only accept tenders from Qualifying Shareholders who tender all their PZ Cussons shares as part of the Offer. The Offer is in line with the Company’s intention to de-list from the Ghana Stock Exchange (the “De-Listing”) announced on the 18th October, 2019. The Board of Directors of PZ Cussons, at its meeting held on 22 August 2019, unanimously approved a resolution seeking to undertake the Offer and to De-List the Company from the Ghana Stock Exchange (“GSE”). Shareholders of PZ Cussons also approved a resolution to undertake the Offer at the Company’s Annual General Meeting (“AGM”) held on 11 November 2019. The GSE has reviewed the Offer Document and has granted a “no-objection” to the Offer. SUMMARY OFFER TERMS: Section 15(2)(f) of GSE’s Listing Rules requires that the minimum Offer Price must be the higher of the average 12-week market price and the market price on the AGM Date. The Offer is priced at GHS 0.45 per PZ Cussons Share representing a 15.4% premium above the market price of GHS 0.39, which is the higher of the average 12-week market price and the market price on the AGM Date. -
Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 4th August, 2016 STOCK MARKET ACCRA BOURSE CONTINUES RECOVERY PROCESS INDICATORS WEEK OPEN WEEK END CHANGE The Ghana Stock Exchange (GSE) continued its recovery process last week, as investors appetite in some Blue-Chip Market Capitalization stocks increase. Shares across multiple sectors like the (GH¢'million) 54,552.94 54,588.41 0.07% Market Capitalization Consumer Goods sector, Financial sector and the Petroleum (US$'million) 13,821.72 13,831.76 0.07% sector sustained the market’s recovery process. Key are the shares of Fan Milk Limited (FML), GCB Bank Limited (GCB) Volume traded (shares) 2,982,813.00 1,294,984.00 -56.59% and the Ghana Oil Company Limited (GOIL). Value Traded (GH¢) 10,170,973.29 5,849,161.50 -42.49% Key benchmark indices like the GSE Composite Index (GSE- Value Traded (US$) 2,576,952.37 1,482,076.09 -42.49% CI) went up to 1,793.27points from 1,787.01 points, to close Table 1: Market Summary at an improved year-to-date loss of 10.11%. Similarly, the INDEX ANALYSIS GSE Financial Stocks Index (GSE-FSI) and the SIC-FSL Top 15 Index (SIC-FSL T-15) also improved from their previous INDICATORS Closing Week YTD levels of 1,687.53 points and 3,146.23 points to 1,678.27 Level Change CHANGE points and 3,123.49 points respectively. Both, the GSE-FSI and the SIC-FSL T-15 closed the week at an improved year- GSE Composite Index 1,793.27 0.35% -10.11% to-date losses of 12.57% and 15.21% respectively. -
ABG Customer Digest 2017 Feb Edition 1
CUSTOMERS’ DIGEST VOLUME 4 NO. 1 | JANUARY - FEBRUARY 2017 ISSUE ‘W’ initiative marks 2nd Anniversary with national women’s summit Product Focus Key Speakers at the National Women's Summit In its maiden edition marking International Women’s Other speakers and panellists who took turns to speak at Day and coinciding with the 2nd year anniversary of the event were the CEO of Airtel Ghana and Access Access Bank’s award winning “W” initiative, the Bank’s ‘W’ Ambassador, Lucy Quist, Managing Director of National Women Summit has been applauded by FC Group of Companies and ‘W’ Ambassador Mrs. Grace Product Bundle leading women advocates for highlighting key issues Amey-Obeng, Pioneer of Spelling Bee in Ghana and ‘W’ • Mpower Salary Account that are affecting women development in Ghana. Ambassador Eugenia Techi-Menson and several others. • Goal Account • Premier Savings Account The summit, which was organised in partnership with All the speakers shared clear messages for women on • Automatic Salary Advance Charter House – an events management company, the importance of integrity, authenticity and attracted over 1,000 participants comprising professionalism as a vital tool for success. Access to a comprehensive traditional female leaders, students, corporate and range of loan products women entrepreneurs among others. The theme for Explaining the motive behind Access Bank’s support, the event was “Celebrating Ghanaian Women, 60 years the Head of Exclusive Banking at Access Bank, Matilda • Personal loan after Independence, the achievements and the future”. Asante-Asiedu noted that the Bank was passionate • Educational loan about helping women to succeed in various • Vehicle finance High profiled women personalities and speakers at the endeavours of their life especially as they constitute a • Home refurbishment loan event included Dr. -
Digital Access: the Future of Financial Inclusion in Africa Acronyms
DIGITAL ACCESS: THE FUTURE OF FINANCIAL INCLUSION IN AFRICA ACRONYMS ADC Alternative Delivery Channel ISO International Organization for Standardization AFSD African Financial Sector Database IT Information Technology ARPU Average Revenue Per User KES Kenyan Shilling API Application Programming Interface KPI Key Performance Indicator ATM Automated Teller Machine KYC Know Your Customer B2P Business to Person LAPO MfB Lift Above Poverty Organization BCEAO Central Bank of West Africa (Banque Centrale Microfinance Bank des Etats de l’Afrique de l’Ouest) M-banking Mobile Banking BOI Banking Operations Intermediary M-wallet Mobile Wallet BVN Bank Verification Number MFI Microfinance Institution CEO Chief Executive Officer MM Mobile Money CBA Commercial Bank of Africa MSME Micro, Small and Medium Enterprise CBN Central Bank of Nigeria MTN Mobile Telephone Network CFA West African Franc, or Central African Franc MNO Mobile Network Operator CGAP Consultative Group to Assist the Poor MVNO Mobile Virtual Network Operator CRM Customer Relationship Management NFC Near Field Communication DFS Digital Financial Services OTC Over the Counter DJ Disc Jockey P2B Person to Business DVD Digital Versatile Disc P2P Person to Person E-banking Electronic Banking PC Personal Computer EFT Electronic Funds Transfer PIN Personal Identification Number EMI e-Money Issuer POS Point of Sale E-money Electronic Money PSP Payment Service Provider E-wallet Electronic Wallet E-warehousing Electronic Warehousing QR Quick Response FCMB First City Monument Bank RCT Randomized -
Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 28th May, 2015 ACCRA BOURSE SOARS, DESPITE…! STOCK MARKET The excitement on the Ghana Stock Exchange (GSE) increased INDICATORS WEEK WEEK END CHANGE last week, as appetite for capital market investment improved. OPEN Indeed, recent corporate actions like the increases in petroleum Market Capitalization products and the worsening of the local currency were looked (GH¢'million) 64,440.64 64,575.13 0.21% upon to thwart market performance, however, the contrary was Market Capitalization (US$'million) 16,499.13 16,305.20 -1.18% true as players appeared unperturbed of current happenings, intensifying their bets on shares. Volume traded (shares) 2,590,114.00 1,395,992.00 -46.10% Shares of Ecobank Ghana Limited (EBG), Total Petroleum Value Traded (GH¢) 2,089,785.25 2,293,571.34 9.75% Ghana Limited (TOTAL), Enterprise Group Limited (EGL), Fan Value Traded (US$) 535,060.36 579,126.18 8.24% Milk Limited (FML) and Aluworks Limited (ALW) were the most Table 1: Market Summary sought after in the week. INDEX ANALYSIS In the end, all the major market indicators went up; with the INDICATORS Closing Week YTD GSE-CI closing last Thursday’s trading at 2,362.28 points, Level Change CHANGE representing a year-to-date change of 4.48% whilst the GSE- FSI also settled at an annual yield of 7.96% to close the week GSE Composite Index 2,362.28 1.06% 4.48% at 2,422.33 points. Also, the SIC-FSL Top 15 index (SIC-FSL T- SIC-FSL Top 15 Index 4,476.58 0.70% 13.53% 15) which measures the performance of liquid equities, posted the biggest returns on the market last week, closing at GSE Financial Stocks Index 2,422.33 1.25% 7.96% 4,476.58 points, which represented a return of 13.53%. -
Pz Cussons (Ghana) Limited (Pz) - Notice of Annual General Meeting
PRESS RELEASE PR. No 325/2017 PZ CUSSONS (GHANA) LIMITED (PZ) - NOTICE OF ANNUAL GENERAL MEETING PZ announces that the Company’s 59th Annual General Meeting will be held at the Ghana-India Kofi Annan Centre for Excellence in ICT, Ringway Estates, Accra (near the Ghana Institute of Journalism) on Tuesday, September 26, 2017 at 11.00 am to transact the following: Agenda: Ordinary Business 1. To receive and consider the Reports of the Directors, Report of the Auditors and the Audited Financial Statements for the year ended May 31, 2017. 2. To re-elect Directors 3. To fix the remuneration of the Directors. 4. To authorise the Directors to fix the remuneration of the Auditors for the ensuing year. Attached is the 2017 Annual Report and Financial Statements. Issued in Accra, this 11th day of September, 2017. - E N D - Distribution: 1. All LDMs 2. General Public 3. Company Secretary, PZ 4. MBG Registrars (Registrars for PZ shares) 5. Central Securities Depository 6. SEC 7. GSE Council Members 8. GSE Notice Board For enquiries, contact: Head of Listings, GSE on 669908, 669914, 669935 *JEB PZ CUSSONS GHANA LIMITED ANNUAL REPORT & FINANCIAL STATEMENTS Creating sustainable value for all PZ Cussons is a dynamic consumer products company and the business behind some of Ghana’s best-loved and well-known brands. Diverse, growing and exciting, our brands lead in Home Care, Personal Care, Electrical Goods and Food & Nutrition. For over centuries, we have kept our promise of ‘Making Life Better’ every day in different ways. Our operational diversity and understanding of the commercial landscape allows us to strategically tap potentials for future growth.