DOCSLIB.ORG

Weekly Pan African Monitor

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Weekly Pan African Monitor United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates Market WTD Return YTD Return Valuation Dividend Equities Index Level Cap ($bn) (Local) (Local) P/E P/B Yield BRVM: BRVM 10* 304 7.2 0.0% 13.5% 23.8x 3.8x 0.8% Egypt: EGX 30 7,239 60.1 -1.0% -18.9% 14.4x 1.2x 2.9% Ghana : GSE Composite 1,995 2.6 -0.2% -11.8% na 1.4x 0.9% Kenya: Nairobi All Share 143 19.1 0.2% -12.0% 13.8x 2.2x 4.5% Mauritius : SEM DEX 1,914 9.3 0.0% -7.7% 16.5x 0.9x na Morocco : CFG 25 19,478 47.3 -1.0% -3.7% na na na Nigeria:Nigeria All Share 30,406 52.8 0.2% -11.7% 8.8x 1.4x 4.7% South Africa: JSE All Share 52,071 427.3 2.2% 4.6% 25.3x 2.3x 3.5% Tunisia: Tunis Index 5,220 10.0 -0.4% 2.5% 26.2x 2.5x na Zimbabwe: Industrial 131 3.3 -0.1% -19.3% 15.2x 0.7x 3.3% Frontier M arkets 513 -- 0.0% -16.2% 9.9x 1.3x 4.2% Emerging M arkets 804 -- 0.0% -15.9% 11.6x 1.3x 3.1% Movement of the major equities indices across Africa Movements in the Global Indices Vs Africa Nigeria South Africa 1.4 Ghana Kenya 1.2 BRVM FM 1.2 EM 1.0 1.0 0.8 MSCI World S&P 500 0.8 FTSE 100 MSCI Africa 0.6 0.6 Oct -14 Dec -14 Feb -15 Apr -15 Oct-14 Dec-14 Feb-15 Apr-15 Currencies (Vs USD) Spot Rate WTD Return MTD Return YTD Return 6M Forward12M Forward Egypt EGP:Pound 7.8 0.0% -0.1% -8.7% 9.35 10.1 Ghana GHS:Cedi 3.7 0.7% 1.2% -13.2% 4.20 4.6 Kenya KES: Shilling 103.1 0.8% 1.7% -12.1% 114.31 122.8 M auritius M UR: Rupee 35.6 0.3% -0.5% -10.8% na na M orocco M AD: Dirham 9.7 -0.1% 0.1% -6.6% na na Nigeria NGN: Naira 198.6 0.0% 0.3% -7.6% 221.88 248.2 South Africa ZAR: Rand 13.6 1.1% 2.0% -14.8% 14.02 14.5 Tanzania TZS: Shilling 2175.0 -0.2% -0.2% -20.3% na na Tunisia TND: Dinar 2.0 -0.4% 0.0% -5.2% na na Zimbabwe ZWL: Dollar 322.4 0.0% 0.0% 0.0% na na 48.87; +3.3% w/w 1136.18; --0.3% w/w 42279; +1.2% w/w 1500 105 Brent Crude Gold 410 Copper 1300 290 55 1100 170 900 5 700 50 Oct -14 Jan -15 Apr -15 Jul -15 Oct-14 Jan-15 Apr-15 Jul-15 Oct -14 Jan -15 Apr -15 Jul -15 Bond Yield Fixed Income (10 yr)Inflation Real Return Policy Rate Egypt na 7.9% na 9.8% Africa Eurobonds' Peformances 1.2 Ghana 10.9% 17.3% -6.4% 25.0% ( I-year Trend)* Kenya 14.3% 6.0% 8.3% 11.5% M auritius 6.0% 1.1% 4.9% 4.7% M orocco 5.0% 1.7% 3.3% 4.3% 1.0 Nigeria 14.8% 9.3% 5.5% 13.0% South Africa 8.2% 4.6% 3.6% 6.0% Nigeria Tanzania 17.6% 6.4% 11.3% na South Africa Ghana Tunisia 7.2% 4.2% 3.0% na 0.8 Zimbabwe 17.4% -2.8% 20.2% na Oct-14 Jan-15 Apr-15 Source: Bloomberg, United Capital Research United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates BVRM Economic News • Ivory Coast recorded consumer price inflation of 1.2% y/y in 1.4 August, unchanged from its July level, data from the National 1– year Equity market trend Statistics office showed last week. The monthly report showed 1.2 that food and soft drink prices climbed 1%, while housing and utility prices added 1.7% over the period. Healthcare prices rose 1.7% and communications costs dropped 0.1%. The 1.0 economy of the world's top cocoa grower makes up around 40% of the eight-nation West African CFA franc currency 0.8 zone. Reuters 0.6 Corporate News Oct -14 Dec -14 BRVMFeb -15 Apr -15 MSCIJun -Africa15 Aug -15 Oct Index Performance BRVM Current 302.17 W eek Change 0.16% Gainers (no) 16 Losers (no) 16 Market Breadth 1.0 52 wk High 307.83 52 wk Low 230.15 Top Gainers Price % Change SETAO 52,675 17.1% Bank of Africa - Burkina Faso 119,325 12.6% Onatel SA 13,000 10.2% Societe De Distribution Automobile en Co 290,250 8.7% Uniwax SA 31,995 8.5% Top Losers Price % Change Movis Cote d'Ivoire 4,445 -11.0% Societe Multinationale de Bitumes 17,100 -10.0% Nestle Cote d'Ivoire 49,000 -7.5% NEI CI 4,195 -6.8% Bernabe 112,500 -5.5% Source: Bloomberg, United Capital Research United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates 52-Week 52-Week MKT. CAP Price High Low (US$MN) WTD Return YTD Return P/E (x) P/BV (x) ROE (%) Consumer Goods Nestle Cote d'Ivoire 49,000 64,500 41,275 91.34 0.0% -10.9% 16.327 18.8 na PALMCI 14,500 19,350 14,000 189.32 -3.3% -14.5% 11.2 1.3 11.93 Sitab-Soc Ivoirienne Tabacs 153,000 162,000 116,500 232.02 -5.0% -3.8% 21.0 9.5 43.03 Societe Africaine de Plantations d'Hevea 11,505 19,000 11,000 99.34 -2.1% -34.5% na 0.9 -5.40 Societe des Caoutchoucs de Grand-Bereby 27,500 32,000 23,000 100.34 -1.9% -13.8% 13.0 1.1 8.83 Societe De Distribution Automobile en Co 290,250 290,250 165,000 78.44 7.6% 71.7% 19.2 5.7 31.30 Societe de Limonaderies et Brasseries 170,000 237,500 164,188 472.68 0.0% -15.0% 12.2 2.1 17.37 Unilever Cote d'Ivoire 25,500 41,000 23,100 69.37 1.8% -31.1% na na na Uniwax SA 31,995 35,405 6,579 40.53 5.5% 299.9% na na 31.76 Energy Shell Cote D Ivoire 71,050 73,105 54,000 151.22 -1.4% 18.4% 30.2 4.8 16.85 TotalFinaElf Cote D'ivoire 23,850 25,100 7,850 507.30 -5.2% 138.5% 42.9 9.2 22.01 Financials Bank of Africa - Benin 124,990 134,375 72,000 212.66 1.2% 52.4% 10.5 2.1 21.62 Bank of Africa - Burkina Faso 119,325 120,000 80,005 221.71 -8.7% 32.6% 13.0 3.4 30.49 Bank of Africa/Cote d'Ivoire 122,000 131,985 78,000 168.98 5.5% 35.6% na na 31.97 Bank of Africa/Niger 85,000 92,440 60,000 136.40 0.6% -2.3% 10.3 3.4 22.65 BICICI 100,005 100,005 68,010 281.54 0.4% 28.2% 16.8 3.8 23.06 SCBCI 118,000 118,000 87,050 620.11 2.0% 21.9% 13.2 4.2 35.58 Societe Africain de Credit Auto 27,500 29,750 23,000 6.03 0.0% 15.4% 4.0 0.5 13.65 Ecobank Transnational Inc 54 65 42 2198.28 -1.8% 15.2% na na 17.15 Industrials Bernabe 112,500 125,025 71,000 62.94 -4.0% 51.6% 18.3 3.1 17.19 Bollore Africa Logistics SAS 195,000 248,955 119,790 358.60 2.1% -21.7% 33.1 6.7 na Comptoir Francais Afrique 74,000 83,310 39,000 226.71 -4.1% 60.5% 35.8 6.4 18.14 Movis Cote d'Ivoire 4,445 8,000 4,070 6.27 0.0% -35.1% na na na Servair Abidjan 81,000 85,000 27,000 74.65 0.1% 108.2% 35.4 15.8 53.92 Societe Ivoirienne DE Cable 104,000 117,870 57,000 26.00 6.2% 2.0% 22.0 3.4 15.18 Materials CROWN SIEM 26,000 32,000 19,900 27.66 -2.8% 13.0% na na -0.82 Filature Tissages Sacs SA 28,000 40,000 17,835 166.76 -5.2% -5.1% 25.6 2.4 9.65 Societe Ivoirienne d'Osygne et d'Acetyln 20,500 26,335 15,500 30.24 -0.5% 20.6% 34.9 7.9 22.52 Societe Multinationale de Bitumes 17,100 20,000 13,500 56.29 -4.5% 22.2% na na na Utilities Cie Ivoirienne D Elect 81,500 86,500 52,000 385.47 -4.6% -1.2% 27.6 9.1 32.98 SODECI 81,510 91,300 55,000 123.92 -2.4% -10.7% na na 23.90 Telecommunication Onatel SA 13,000 13,650 5,655 746.61 -15.8% 75.7% 22.5 4.7 19.23 Sonatel 26,500 29,600 20,350 4476.27 2.2% 16.2% 13.0 5.1 40.66 Societe Ivoirienne de Coco Rape 8,995 10,280 4,995 9.12 8.4% 76.7% 133.1 na na SETAO 52,675 52,675 19,795 11.96 0.0% 54.9% 6.7 na na NEI CI 4,195 6,235 3,450 3.62 -9.9% 4.9% na 3.7 -8.85 TRITURAF 490 490 490 0.86 0.0% 0.0% na na na Source: Bloomberg, United Capital Research United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates Egypt Economic news • Egypt aims to generate around 98.5 billion Egyptian 1.2 1– year Equity market trend pounds ($12.58 billion) of additional revenue this financial year by launching economic legislation and financial 1.0 reforms, Finance Minister Hany Kadry Dimian said last week.
Load more

Recommended publications
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • Has Gse Played Its Role in the Economic Development of Ghana?
    CAPITAL MARKET 23 YEARS AND COUNTING: HAS GSE PLAYED ITS ROLE IN THE ECONOMIC DEVELOPMENT OF GHANA? 1st CAPITAL MARKET CONFERENCE BY EKOW AFEDZIE, DEPUTY MANAGING DIRECTOR MAY 10, 2013 INTRODUCTION Ghana Stock Exchange (GSE) was established with a Vision: -To be a relevant, significant, effective and efficient instrument in mobilizing and allocating long-term capital for Ghana’s economic development and growth. INTRODUCTION OBJECTIVES - To facilitate the Mobilization of long term capital by Corporate Bodies/Business and Government through the issuance of securities (shares, bonds, etc). - To provide a Platform for the trading of issued securities. MEMBERSHIP OF GHANA STOCK EXCHANGE GSE as a public company limited by Guarantee has No OWNERS OR SHAREHOLDERS. GSE has Members who are either corporate or individuals. There are two categories of members:- - Licensed Dealing Members - 20 - Associate Members - 34 HISTORICAL BACKGROUND 1968 - Pearl report by Commonwealth Development Finance Co. Ltd. recommended the establishment of a Stock Exchange in Ghana within two years and suggested ways of achieving it. 1970 – 1989 - Various committees established by different governments to explore ways of bringing into being a Stock Exchange in the country. HISTORICAL BACKGROUND 1971 - The Stock Exchange Act was enacted. - The Accra Stock Exchange Company incorporated but never operated. Feb, 1989 - PNDC government set up a 10-member National Committee on the establishment of Stock Exchange under the chairmanship of Dr. G.K. Agama, the then Governor of the Bank of Ghana. HISTORICAL BACKGROUND July, 1989 - Ghana Stock Exchange was incorporated as a private company limited by guarantee under the Companies Code, 1963. HISTORICAL BACKGROUND Nov.
    [Show full text]
  • Pz Cussons Ghana Limited
    P Z CUSSONS GHANA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018 Our History Paterson Zochonis (PZ) was formed in Ghana (then Gold Coast) in 1934. Paterson Zochonis Ghana became a Public Company in 1976, and was listed on the Ghana Stock Exchange within 12 months of its inception, in 1990. From the early activities of importing, exporting and general trading, an industrial base was established in 1969. Consequent to the Economic recovery Programme instituted by the Government at the time, opportunity was taken in the late 80’s and 90’s to rejuvenate PZ’s industrial potential, concentrating on Health Care and Beauty products. Effective 1st June, 2002, the group underwent a change in name, from Paterson Zochonis to PZ Cusssons. The objective of the change was to unify the Group further under one identity and to refresh and modernize our corporate image. With a solid product portfolio that includes a number of well established brands such as Camel Antiseptic, Imperial Leather, Nunu Milk, Haier Thermocool, Carex, Duck, Drastin, Premier, Robb, Cussons Baby, PZ Cussons can look at the future with great confidence. Our vision is driven by our commitment to continue to expand our business through providing consumers with goods of the highest quality standards at affordable prices, while making reasonable profit and maintaining our strong family values and respect for the environment in which we operate. www.pzcussons.com.gh/ Mission We are an international, entrepreneurial CONTENTS conglomerate operating locally to enhance the lives of all consumers through quality, Strategic Review value and innovation day after day.
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 14th September, 2017 Address: No. 67A & B Switchback Road, Email: [email protected] Website: www.sic-fsl.com Phone: +233-302-767-051 +233-302-767-123 STOCK MARKET PROFIT-TAKING SLOWS MARKET PERFORMANCE Intense profit-taking on the Ghana Stock Exchange (GSE) INDICATORS WEEK OPEN WEEK END CHANGE saw key performance indicators dip for the first time in Market Capitalization several weeks. Among the nine (9) price movers, five (5) (GH¢'million) 58,810.32 58,022.89 -1.34% equities were ticked-down while the rest gained. Among the Market Capitalization (US$'million) 13,359.91 13,171.45 -1.41% laggards, shares of Standard Chartered Bank Limited (SCB), GCB Bank Limited (GCB), Enterprise Group Limited (EGL) Volume traded (shares) 1,090,896.00 3,860,498.00 253.88% and Trust Bank Gambia Limited (TBL) were the hardest hit on Value Traded (GH¢) 7,134,447.86 9,038,209.20 26.68% the bourse last week. Value Traded (US$) 1,620,728.73 2,051,713.70 26.59% At the close of activities last Thursday yields on the GSE- Table 1: Market Summary Composite Index (GSE-CI), the GSE Financial Stocks Index (GSE-FSI) and the SIC-FSL Top 15 liquid Index (T-15 Index) declined from their previous week year-to-date gains of INDEX ANALYSIS 44.73%, 42.91% and 52.92% to settle at annual returns of 37.08%, 31.38% and 45.33% respectively. INDICATORS Closing Week YTD Level Change CHANGE Total market capitalization dipped from the previous week’s GSE Composite Index 2,315.48 -5.28% 37.08% figure of GH¢58.81 billion to GH¢58.02 billion.
    [Show full text]
  • PZ Cussons Ghana Limited Annual Report & Accounts 2014 ANNUAL REPORT and FINANCIAL STATEMENTS for the YEAR ENDED 31 MAY 2014
    2014 PZ Cussons Ghana Limited Annual Report & Accounts 2014 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2014 ... makes things better ...makes better things PZ CUSSONS GHANA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2014 Our History Patterson Zochonis (PZ) was formed in Ghana (then Gold Coast) in 1934. Paterson Zochonis Ghana became a Public Company in 1976, and was listed on the Ghana Stock Exchange within 12 months of its inception, in 1990. From the early activities of importing, exporting and general trading, an industrial base was established in 1969. Consequent to the Economic recovery Programme instituted by the Government at the time, opportunity was taken in the late 80’s and 90’s to rejuvenate PZ’s industrial potential, concentrating on Health Care and Beauty products. Effective 1st June, 2002, the group underwent a change in name, from Patterson Zochonis to PZ Cusssons. The objective of the change was to unify the Group further under one identity and to refresh and modernize our corporate image. With a solid product portfolio that includes a number of well established brands such as Camel Antiseptic, Imperial Leather, Nunu Milk, Haier Thermocool, Carex, Duck, Drastin, Premier, Robb, Cussons Baby, PZ Cussons can look at the future with great confidence. Our vision is driven by our commitment to continue to expand our business through providing the consumers with goods of the highest quality standards at affordable prices, while making reasonable profit and maintaining our strong family values and respect for the environment in which we operate.
    [Show full text]
  • AGYEKUM FRANCIS.Pdf
    KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY COLLEGE OF ARTS AND SOCIAL SCIENCES DEPARTMENT OF ACCOUNTING AND FINANCE A COMPARATIVE STUDY OF THE PERFORMANCE OF MANUFACTURING COMPANIES AND BANKING INSTITUTIONS LISTED ON THE GHANA STOCK EXCHANGE. BY AGYEKUM FRANCIS (B.ED ACCOUNTING) NOVEMBER, 2015 i A COMPARATIVE STUDY OF THE PERFORMANCE OF MANUFACTURING COMPANIES AND BANKING INSTITUTIONS LISTED ON THE GHANA STOCK EXCHANGE. BY AGYEKUM FRANCIS (B.ED ACCOUNTING) A THESIS SUBMITTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE, KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION COLLEGE OF ARTS AND SOCIAL SCIENCES NOVEMBER, 2015 ii DECLARATION I hereby declare that this dissertation is the outcome of my original research carried in the KNUST School of Business under the supervision of Mr. Edward Yeboah. However, references cited in this work have been duly acknowledged. I therefore take the responsibility of any error(s) that may be found in this work. iii CERTIFICATION The undersigned certify that we have read through and recommended to the KNUST School of Business for Acceptance of a dissertation entitled; Comparative Studies of the Performance of Manufacturing Companies and Banking Institutions Listed on the Ghana Stock Exchange in partial fulfillment of the requirements for the award of Master of Business Administration Degree in Accounting. AGYEKUM FRANCIS …………………….. …………………… STUDENT SIGNATURE DATE Certified by: Mr. EDWARD YEBOAH …………………….. …………………… SUPERVISOR SIGNATURE DATE Certified by: DR.K.O. APPIAH …………………….. …………………… HEAD OF DEPARTMENT SIGNATURE DATE iv ACKNOWLEDGEMENT The researcher wishes to register his appreciation and thanks to the omnipresent Father who has been with him throughout the entire research.
    [Show full text]
  • PZ Cussons Ghana Limited Report and Financial Statements 31 May
    PZ Cussons Ghana Limited Report and financial Statements 31 May 2019 PZ Cussons Ghana Limited Report and financial statements PAGE Corporate information 2 Corporate Governance Report 3 - 8 Statement of directors responsibilities 9 Directors' Report 10-11 Independent Auditor's Report 12 - 17 Statement of Profit or Loss and Other Comprehensive Income 18 Statement of Financial Position 19 Statement of Changes in Equity 20 Statement of Cash Flows 21 Notes to the Financial Statements 22 - 71 Five Year Financial Summary 72-73 CLASSIFICATION: CONFIDENTIAL 1 PZ Cussons Ghana Limited Corporate information Directors: Paul K. Pepera - Chairman Helena Adu-Gyamfi - Non Executive Director David Afflu - Business Unit Director Christos Giannopoulos - Non Executive Director Adiza K. Sefiyanu - Head of Commercial Finance Secretary: Accra Nominees Limited 2nd Floor, Cedar House 13 Samora Machel Road Asylum Down P. O Box GP 242 Accra Registered office: Plot 27/3 - 27/7 Sanyo Road Tema Heavy Industrial Area P. O Box 628 Accra, Ghana Auditors: Deloitte & Touche Chartered Accountants The Deloitte Place Plot No. 71 off George Walker Bush highway North Dzorwulu P. O Box GP 453 Accra Solicitors: Legal Ink (Lawyers and Notaries) No. F89/7 Emmaus Off 2nd Labone Street PMB 24 Kanda Accra Bankers: Access Bank Ghana Limited Barclays Bank Ghana Limited Ecobank Ghana Limited GCB Bank Limited Guaranty Trust Bank (Ghana) Limited Standard Chartered Bank Ghana Limited Stanbic Bank Ghana Limited United Bank of Africa (Ghana) Limited Zenith Bank Ghana Limited Universal Merchant Bank Limited CLASSIFICATION: CONFIDENTIAL 2 PZ Cussons Ghana Limited Corporate governance report Mission We are an international, entrepreneurial conglomerate operating to enhance the lives of all consumers through quality, value and innovation day after day.
    [Show full text]
  • C4738 PZ Cussons a Rep 05.Indd
    2005. Annual Report and Accounts ANNUAL REPORT AND ACCOUNTS REPORT AND ACCOUNTS ANNUAL 2005 Designed by The Chase Photography by Michael Heffernan CHAIRMAN’S STATEMENT ANNUAL REPORT 2005 01 Welcome. 2005 has been another year of considerable 2005 has been another year of considerable progress Nigel Green, Group Chief Executive, will retire although profit improvement has been restricted by on 31st May 2006 after ten very successful years progress for the PZ Cussons Group. trading losses in Russia. leading the Group through a period of significant growth and change. This successful result has been achieved despite the challenging trading conditions with the weak US dollar Alex Kanellis, currently Deputy Chief Executive, will and high oil prices impacting all our businesses. succeed Nigel as Chief Executive on 1st June 2006. In the year we have continued our growth strategy David Godwin will retire from the Board on 30th and our margin improvement programme. September 2005 after seven years. David’s advice and work on behalf of the Group has been invaluable In particular: throughout this period of significant growth. • The milk factory in Nigeria is now in production. • The white goods venture with Haier in Nigeria is James Steel, currently head of Corporate Finance expanding rapidly. at Arbuthnot Securities, will be appointed a non- • The brand purchases in the UK of Original Source executive director on 1st October 2005. and Charles Worthington are planned to grow in line with expectations. Our strategic focus remains on growth in our key • The new bar soap factory in Thailand is on schedule markets and margin improvement.
    [Show full text]
  • Creating Sustainable Value for All PZ Cussons Is a Dynamic Consumer Products Group and Innovator of Some of the World’S Best Known and Loved Brands
    Governance and Financial Statements 2018 Creating sustainable value for all PZ Cussons is a dynamic consumer products group and innovator of some of the world’s best known and loved brands. For more than 130 years, we have operated in selected developed and emerging markets that present the greatest strategic potential for future growth. Our agile operating model and world-class supply chain and distribution networks enable us to meet consumer needs and deliver quality brands that add value and enhance everyday lives. Contents Our 2018 Report Governance Our Annual Report is split into two distinct reporting sections: a Strategic Report, and 1 Chair’s letter to shareholders Governance and Financial Statements. These documents are to be read in conjunction 2 Board of Directors with each other. 4 Report of the Directors 8 Statement of the Chair of the Strategic Report Remuneration Committee The Strategic Report takes 10 Report on Directors’ Remuneration a strategic look at how the Group operates and provides 10 – Directors’ Remuneration Policy insight into our strategy, 17 – Annual Report on Remuneration business model, people 26 Statement of the Chair of the and vision. Nomination Committee 28 Report of the Audit & Risk Committee Governance and Online 32 Report on Corporate Governance Financial Statements Digital, downloadable copies of the The Governance and Financial two reports are available online at: Financial Statements Statements provides an 38 Independent Auditor’s Report to in-depth analysis of the www.pzcussons.com the Members
    [Show full text]
  • PAM New Template
    United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates United Capital Weekly Pan African Monitor Equity Research|Market Indicators|News Updates Market WTD Return YTD Return Valuation Dividend Equities Index Level Cap ($bn) (Local) (Local) P/E P/B Yield BRVM: BRVM 10* 300 6.8 -3.0% 12.2% 24.5x 3.8x 0.8% Egypt: EGX 30 7,173 60.1 0.0% -19.6% 17.0x 1.2x 3.3% Ghana : GSE Composite 2,164 2.5 0.7% -4.3% na 1.5x 0.9% Kenya: Nairobi All Share 150 20.0 -1.6% -8.1% 14.4x 2.3x 4.2% Mauritius : SEM DEX 1,959 7.6 -0.3% -5.5% 15.9x 1.0x na Morocco : CFG 25 20,240 49.9 -1.0% 0.0% na na na Nigeria:Nigeria All Share 29,878 51.4 -2.7% -13.8% 9.5x 1.4x 4.4% South Africa: JSE All Share 49,028 459.9 -3.5% -1.5% 21.1x 2.1x 3.7% Tunisia: Tunis Index 5,547 10.0 -0.4% 9.0% 29.1x 2.7x na Zimbabwe: Industrial 136 3.3 -3.9% -16.6% 11.1x 0.8x 3.2% Frontier M arkets 543 -- -2.8% -11.3% 10.2x 1.4x 4.1% Emerging M arkets 830 -- -3.9% -13.2% 12.1x 1.3x 3.1% Movement of the major equities indices across Africa Movements in the Global Indices Vs Africa Nigeria South Africa 1.4 Ghana Kenya 1.2 BRVM FM 1.2 EM 1.0 1.0 0.8 MSCI World S&P 500 0.8 FTSE 100 MSCI Africa 0.6 0.6 Aug -14 Oct -14 Dec -14 Feb -15 Aug-14 Oct-14 Dec-14 Feb-15 Currencies (Vs USD) Spot Rate WTD Return MTD Return YTD Return 6M Forward12M Forward Egypt EGP:Pound 7.8 0.2% 0.0% -8.5% 9.23 10.1 Ghana GHS:Cedi 4.2 -4.2% -10.4% -23.4% 4.68 5.1 Kenya KES: Shilling 103.4 -1.1% -1.0% -12.4% 109.75 114.0 M auritius M UR: Rupee 35.5 -0.1% -0.1% -10.5% 35.63 35.9 M orocco M AD: Dirham
    [Show full text]
  • 13Databank Balanced Fund Annual Report
    DATABANK 20 BALANCED FUND 13 ANNUAL REPORT 2 ANNUAL REPORT 2013 Databank Balanced Fund Limited AUDITED FULL YEAR REPORT FOR THE PERIOD ENDED DECEMBER 31, 2013 DATABANK BALANCED FUND LTD 2013 Annual Report 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. Contents 06 Notice of Annual General Meeting 07 Chairman’s Statements to Shareholders 10 Performance Summary 11 Portfolio at a Glance 12 Interview with Fund Manager 14 Report of the Directors 15 Report of the Auditors 17 Statement of Assets And Liabilities 18 Income and Distribution Accounts 19 Statement of Movement In Net Assets 20 Statement of Net Assets 22 Portfolio Summary 23 Financial Highlights 24 Notes to the Financial Statements 29 Custodian’s Report 30 Portfolio Valuation Report 32 Corporate Information 33 Directors’ and Officers’ Information 38 Proxy Form “Smart Investors, take risks. Wise Investors go for balance.” - Prof. Stephen Adei Notice of Annual General Meeting Notice is hereby given that the 6th Annual General Meeting of the shareholders of Databank Balanced Fund Limited will be held at the International Conference Centre, Accra, Ghana on Thursday the 14th of August 2014 at 11:00a.m. for the following purposes: 6 1. To consider the Directors’ Report and the Report of the Auditors for the year ended December 31, 2013. 2. To receive and adopt the Statement of Assets and Liabilities and Statement of Operations for the year ended December 31, 2013 3.
    [Show full text]