DOCSLIB.ORG

Weekly Market Watch Sic-Fsl Investment Research| Market Reviews|Ghana

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Weekly Market Watch Sic-Fsl Investment Research| Market Reviews|Ghana WEEKLY MARKET WATCH SIC-FSL INVESTMENT RESEARCH| MARKET REVIEWS|GHANA 9th January, 2014 SIC FINANCIAL SERVICES LIMITED|ADVISORY|FUND MANAGEMENT|STOCK BROKERAGE|INVESTMENT RESEARCH STOCK MARKET GSE MAINTAINS LEAD ROLE 2014 expectedly begun the year on a good-note as the INDICATORS WEEK OPEN WEEK END CHANGE Ghana Stock Exchange (GSE) carried its last year’s bullish sentiment into the New Year. Equities from the Market Capitalization (GH¢ 'million) 61,158.29 62,137.86 1.60% Banking, Consumer goods and Pharmaceutical sectors, rallied support for the week’s sterling performance. Market Capitalization (US$' million) 27,668.43 27,619.28 -0.18% Volume traded (shares) 660,906.00 3,348,617.00 406.67% The Ghana Stock Exchange closed the year as the best performing stock market on the African continent in Value Traded (GH¢) 982,386.87 4,707,744.14 379.21% dollar terms last year. It was however second to the Value Traded (US$) 444,438.50 2,092,516.73 370.82% Malawi Stock Exchange in terms of the local currency Table 1: Market Summary (Ghanaian Cedi). The Accra Bourse retuned 56.14% and 78.81% profit respectively to investors in dollar and INDEX ANALYSIS Cedi terms. The Malawi Stock Exchange on the other hand returned 56.08% and 108% growth to investors. INDICATORS Closing Week YTD Level Change CHANGE Key benchmark indices edged higher, as the GSE-CI recorded 45.66 points increase over its opening level of GSE Composite Index 2,190.86 2.13% 2.13% 2,145.20 points, to settle at a yield of 2.13%. The SIC- SIC-FSL Top 15 Index 3,709.80 7.35% 7.35% FSL Top 15 Index posted the highest returns on the market by closing at 3,709.80 points with a return of GSE Financial Stocks Index 1,853.09 3.72% 3.72% 7.35%, giving credence to liquid stocks. The GSE Table 2: Key Stock Market Indices Composite index also settled at 1,853.09 points to close at a gain of 3.72%. LIQUIDITY 8.00% Intense appetite for stocks accounted for the 3.4 million shares 7.00% that exchanged hands over the period and this was valued at 6.00% GH¢4.71 million. Cal Bank Limited (CAL) was the most traded equity, with a 70.6% contribution of the total shares traded last 5.00% week. Subsequently, CAL emerged the most valuable stock within 4.00% the week under consideration. 3.00% On the whole, twenty-three (23) out of the thirty-four listed 2.00% companies were active on the market as financial stocks were fully 1.00% active on the week, except the Trust Bank Limited (TBL) of 0.00% Gambia. 2-Jan-13 3-Jan-13 4-Jan-13 7-Jan-13 8-Jan-13 9-Jan-13 GSE YTD Change GSE-FSI YTD SIC-FSL 15 YTD Change Fig 1: Year-to-date returns MARKET MOVERS STOCK Wk Open Wk End Change % TICKER change ETI tops gainers list AYRTN 0.17 0.18 0.01 5.88% EBG 5.61 5.69 0.08 1.43% Ecobank Transnational Incorporated (ETI) saw its stock price jump up by 31.58% as investors repose confidence in the ETI 0.19 0.25 0.06 31.58% Banking stock by increasing their bets on the company’s stake. FML 6.62 6.63 0.01 0.15% Investors are very optimistic about the yet-to-be released full GCB 4.85 4.90 0.05 1.03% year financial statement of the company following the impressive earnings released in the third quarter of 2013. The SCB 14.94 14.99 0.05 0.33% expectant investors seem to have been the key drivers of the Table 3: Gainers for the week company’s share price on the stock market. ETI ended last week’s trading session as the best performing stock after closing at GH¢0.25 per share from a year-open price of GH¢0.19 per share last Thursday. STOCK Wk Open Wk End Change % TICKER change HFC 0.96 0.95 -0.01 -1.04% Investors bid up AYRTN’s share price despite…. TOTAL 5.06 5.03 -0.03 -0.59% The pharmaceutical company, Ayrton Drugs Manufacturing UNIL 18.31 18.10 -0.21 -1.15% Limited (AYRT N) saw its share price shot-up by 5.9% last UTB 0.45 0.44 -0.01 -2.22% Thursday regardless of the company’s fall in profit in 2013 Table 4: Laggards for the week over the comparative year in 2012. The company suffered a huge profit declined of 86%, after reporting a profit-after-tax of GH¢340,806 in 2013 from the GH¢2.48 million in 2012. The fall in profit can be attributed to the huge drop in other CAL, 70.60% income and high administrative expenses incurred last year. The share price of Ayrton settled at GH¢0.18 from an opening price of GH¢0.17 per share. ETI, 9.80% Profit-taking drags UTB down Others, 7.47% Contrary to market sentiment, shareholders of UT Bank (UTB) EBG, 5.15% sold some of their holdings to take-out some margins on their UTB, 2.24% GCB, 4.75% investment. Fig 2: Top 5 most liquid equities with respect to volume traded This gave bidders the power to beat-down the company’s market value by 2.22% last week, as the stock closed trading at GH¢0.44 per share. Stock Ticker Year Opening Closing Price @ YTD Gain/Loss (%) Price(GH¢) 9/01/2014 (GH¢) African Champion Industries Ltd. ACI 0.06 0.06 0.00% AngloGold Ashanti Ltd. AGA 37.00 37.00 0.00% Aluworks Limited ALW 0.05 0.05 0.00% Ayrton Drug Manufacturing Ltd. AYRTN 0.17 0.18 5.88% Benso Oil Palm Plantation BOPP 3.21 3.21 0.00% Cal Bank Ltd CAL 0.97 0.98 0.00% Clydestone (Ghana) Ltd. CLYD 0.04 0.04 0.00% Camelot Ghana Ltd. CMLT 0.16 0.16 0.00% Cocoa Processing Co. Ltd. CPC 0.02 0.02 0.00% Ecobank Ghana Ltd. EBG 5.61 5.60 1.43% Enterprise Group Limited EGL 1.88 1.88 0.00% Ecobank Transnational Inc. ETI 0.19 0.18 31.58% Fan Milk Ltd. FML 6.62 6.60 0.15% Ghana Commercial Bank Ltd. GCB 4.85 4.90 1.03% Guinness Ghana Breweries Ltd. GGBL 6.20 6.11 0.00% Ghana Oil Company Limited GOIL 0.89 0.89 0.00% Golden Star Resources Ltd. GSR 2.75 2.75 0.00% Golden Web Ltd. GWEB 0.04 0.04 0.00% HFC Bank (Ghana) Ltd. HFC 0.96 0.96 -1.04% Mechanical Lloyd Co. Ltd. MLC 0.38 0.38 0.00% Pioneer Kitchenware Ltd. PKL 0.06 0.06 0.00% Produce Buying Company Ltd. PBC 0.17 0.17 0.00% PZ Cussons Ghana Ltd. PZ 0.79 0.79 0.00% Standard Chartered Bank (GH) Ltd.* SCB 14.94 14.92 0.33% SIC Insurance Company Ltd. SIC 0.39 0.39 0.00% Starwin Products Ltd. SPL 0.04 0.03 0.00% Societe Generale Ghana Limited SOGEGH 0.75 0.75 0.00% Sam Woode Ltd. SWL 0.03 0.03 0.00% Trust Bank Ltd. (The Gambia) TBL 0.35 0.35 0.00% Total Petroleum Ghana Ltd. TOTAL 5.06 5.02 -0.59% Transaction Solutions (Ghana) Ltd. TRANSOL 0.03 0.03 0.00% Tullow Oil Plc TLW 34.98 34.98 0.00% Unilever Ghana Ltd. UNIL 18.31 18.29 -1.15% UT Bank UTB 0.45 0.44 -2.22% AngloGold Ashanti Depository Shares AADS 0.52 0.52 0.00% Standard Chartered Bank Preference shares SCB PREF 0.52 0.52 0.00% NewGold Exchange Traded Fund GLD 26.13 26.13 0.00% CEDI STARTS THE YEAR ON A POOR-NOTE CURRENCY MARKET The Ghanaian Cedi has still not recovered from its declining trend as economic factors underpinned its performance in the EXCHANGE RATES BUYING SELLING YTD wake of the year. The Cedi posted losses against the US CHANGE Dollar, Pound Sterling and the Euro last week. USDGHS 2.2485 2.2510 4.08%▼ The effect of increased importation in last year yuletide celebration appears to be the major cause of the Cedi’s early GBPGHS 3.7022 3.7072 3.70%▼ falls in this New Year. EURGHS 3.0601 3.0630 2.52%▼ Also, news on the decline in Ghana’s foreign direct investments (FDI) added to the woes of the local currency last week. Table 6: Inter-bank indicative rates According to data from Ghana Investment Promotion Center (GIPC), the country’s FDI for the first nine months in 2013 ▲ year-to-date appreciation shrunk to US$3.24 billion from US$4.38 billion recorded for ▼ year-to-date depreciation the same period in 2012. This represented a decline of 26%. The Cedi as a result slipped by 1.31% in its composite value Investors repose confidence in Dollar on the inter-bank market. Investors increased their betting in the Dollar last week despite reports that the Bank of Ghana (BoG) plans to raise about 4.50% GH¢12.7 billion through debt instrument within the first half of this year. 4.00% 3.50% The Central Bank’s calendar has outlined a third seven year bond 3.00% in May to raise about GH¢300 million, one five-year bond in March and three-year bonds in February, April and June this 2.50% year.
Load more

Recommended publications
  • Market Review
    Market Review February 2017 The month of February was dominated by a highly volatile foreign Market in Brief exchange market resulting from news of a worse-than-expected • • • • • • 2016 budget deficit. The deficit stood at 10.3 per cent of gross domestic product against a target of 5.3 per cent. Policy Rate 25.5% Forex and Money Markets • • • The Ghana cedi recorded a month-on-month depreciation of 4.6 Inflation per cent against the US dollar in the Interbank market, having 13.3% opened the month at 4.2711 per US dollar and closed at 4.4786, (January Y/Y) extending the year’s depreciation to 6.2 per cent. In the money • • • market, yield on 91-day bill remained at 15.94 per cent at close of the month whereas yield on 182-day bill rose marginally to 17.10 Interest Rate per cent from 16.99 per cent in January. 16.3827% (91-day bill) Interbank Exchange Rate (February 2017) • • • Current Previous Change (%) USD/GHS 4.4786 4.2711 -4.60% GBP/GHS 5.5745 5.3488 -4.00% Cedi Performance EUR/GHS 4.7530 4.6073 -3.10% -6.2% Ghana Government Treasury Securities (YTD Return) Current Previous Change (bps) 91-Day T-Bill 15.9438% 15.9376% +1bps GSE Composite Index 182-Day T-Bill 16.9927% 17.0978% -11bps +9.8% (YTD Return) Equities • • • The stock market remained optimistic in February. The benchmark GSE Composite Index gained 78.13 points (representing 4.4 per cent) month-on-month to close February at 1,854.53 points, www.pentassets.com 050-153-0246 extending year-to-date return to 9.8 per cent.
    [Show full text]
  • Quarterly Financial Markets Report
    Quarterly Financial Markets Report Second Quarter 2016 Global Economic Highlights Highlighted by UK’s vote to leave the EU, weak demand, high unemployment levels, financial frailties and geopolitical risks, the global economic environment continued to be plagued by weakened growth prospects in the last three months. The late June U.K. referendum to leave the European Union sent shock waves across the globe, leaving global financial markets in turmoil. The equity markets fell sharply and the British Pound plunged 8.4% and 12.5% against the U.S. Dollar and Japanese Yen, respectively. The value of the British Pound against the US Dollar was at its lowest in the past 31 years. Reassurance on support from the central bank saw the economy enjoying some reprieve as the financial markets rebounded partially in fragments. With manufacturing growth stalling over the past year and construction figures weakening markedly in June, U.K. growth continued to be driven primarily by the services sector. The rate of Consumer Price Inflation (CPI) remained low at around 0.3% partly due to relatively subdued global demand growth. Both Standard & Poor’s, and Fitch on the back of the foregoing downgraded U.K’s credit ratings. With a lift from the European Central Bank’s stimulus cut, low energy prices and a rebound in consumer spending, figures from the 19-nation bloc were impressive before the Brexit, with GDP rising by 0.6% in Q1 2016 despite a backdrop of the global market turmoil at the start of the year. However, questions about the EU’s stability and the potential for an economic downturn after Britain’s surprise exit from the EU dominated the centre stage in the Eurozone at the end of the second quarter.
    [Show full text]
  • Market Review
    Market Review January 2017 Forex and Money Markets Market in Brief • • • • • • The economy continued to show signs of recovery during the month of January. Prices of government securities generally increased with Policy Rate yield on weekly 91-day bill easing to 15.94%, from 16.43% in 25.5% December. (Prices increase when yields fall). This development was • • • supported by the gradual decline of consumer inflation from a peak of 19.2% in March 2016 to a 29-month low of 15.4% in December. Inflation The cedi depreciated by about 1.7% in January to close at 4.2711 per 15.4% US Dollar in the interbank market. (December 2016, Y/Y) • • • Interbank Exchange Rate (January 2017) Current Previous Change (%) Interest Rate USD/GHS 4.2711 4.2002 -1.7% 15.94% p.a. GBP/GHS 5.3488 5.1964 -2.8% (91-day bill) EUR/GHS 4.6073 4.4367 -3.7% • • • Ghana Government Treasury Securities Current Previous Change(bps) Cedi Performance 91-Day T-Bill 15.94% 16.43% -49bps -1.7% (USDGHS YTD Return) 182-Day T-Bill 17.10% 17.64% -54bps • • • 1-Yr Note 19.50% 21.00% -150bps GSE Composite Index Equities +5.2% (YTD Return) The stock market was optimistic in the first month of 2017. The GSE Composite Index (GSE:CI) gained 5.2% to close [the month] at • • • 1,776.40 points, powered by the financial services sector. Market capitalization rose 2.6% to 54.05 billion cedis. Overall, the market recorded 11 gainers and 4 losers during the month.
    [Show full text]
  • Proposed Merger of Dannex Limited, Ayrton Drug Manufacturing Limited
    Circular to Shareholders of Ayrton Drug Manufacturing Limited, Starwin Products Limited and Dannex Limited | 1 Proposed Merger of Dannex Limited, Ayrton Drug Manufacturing Limited and Starwin Products Limited Pursuant to a Scheme of Amalgamation (Under Sections 231 to 235 of the Ghana Companies Act, 1963 (Act 179), as amended) Financial Advisor Sponsoring Broker Legal Advisors Reporting Accountant Circular to Shareholders of Ayrton Drug Manufacturing Limited, Starwin Products Limited and Dannex Limited | 2 Contents ............................................................................................................................................................................ 1 IMPORTANT INFORMATION AND DISCLAIMERS ......................................................................................... 7 Introduction ....................................................................................................................................................... 7 Legal Basis for the Scheme of Amalgamation of Dannex, Ayrton and Starwin ......................................... 7 Declaration of Interest by Advisors ................................................................................................................ 8 Directors Responsibly Statement ................................................................................................................... 9 CORPORATE INFORMATION ON DANNEX LIMITED .................................................................................. 12 CORPORATE INFORMATION ON
    [Show full text]
  • Weekly Stock Market Report
    MARKET REPORTS Weekly Capital Market Recap: January 03, 2020 Stock Market Highlights Open Closing Indicator Previous Current Chg (%) Equity Price Price Gain/Loss GSE-CI 2,257.15 2,258.68 0.07% • The benchmark index rose by 0.07% this week GOIL Company Limited 1.70 1.74 2.35% due to gains in GOIL Company Limited to close YTD (GSE-CI) 0.07% at 2,258.68 with a 0.07% year-to-date return GSE-FI 2,019.65 2,019.65 0.00% while market capitalization increased by 0.03% YTD (GSE-FI) 0.00% to settle at GH¢56.81 billion. Mkt Cap (GHC) 56,791.28 56,806.95 0.03% • The GSE Financial Index recorded no gains or Volume 304,490 losses this week, closing at the year open of Value (GHC) 209,136 2,019.65. Top Trades by Value GHC • There were no losses this week. MTNGH 154,737 Activity Levels Picks Up TOTAL 32,400 SCB 5,336 • Trading activity started the week on a positive note as 304,490 shares valued at GH¢209,136 changed hands. Index YTD Performance (%) - 2020 • MTN Ghana dominated trades by value, 0.08 accounting for 73.99% of total value traded. 0.07 Outlook • We expect trading activity to rise next week as 0.06 investors come back from the holiday break. 0.05 Ayrton Drugs Manufacturing Limited (AYRTN) and Starwin Products Limited (SPL) 0.04 Dannex Plc has announced its Merger with Ayrton 0.03 Drugs Manufacturing Limited and Starwin Products Limited and the approval by the Ghana Stock 0.02 Exchange of the listing of the merged company, Dannex Ayrton Starwin PLC on its official list.
    [Show full text]
  • SEC Newsletter 2016 Third Edittion
    “ENSURING INVESTOR PROTECTION” SECURITIES AND EXCHANGESEC COMMISSION GHANA QUARTERLY NEWS Vol. #6 Issue 3 July - Sept. 2016 Public Advice 3 Ds of Capital Market News• Don’t lie Members of the general public are advised to use the • Disclose fully Commission’s Toll Free Line 080010065 or Main Line • Deal fairly 030768970-2 to contact the Commission on any issue they may have relating to the securities market and Difference between Derivative investments, including: Contract and Security. • Seeking general information about the Derivatives can be used in financial risk management to securities market and products. efficiently hedge and /or manage financial risk. A derivative contract is a contract that derives its value • Seeking information about licensed capital from an underlying security. Derivatives have a finite, market operators. predefined life, a predefined reference rate or price and a predefined notional amount. • Reporting persons suspected to be operating in the securities market without a license. Securities (i.e., stocks and bonds) are issued to raise capi- tal in order to support projects that will earn a return • Reporting fraudulent investment schemes greater than the cost of those securities. (e.g. ponzi schemes). Derivatives on the other hand are not issued to raise capi- • Reporting fraudulent activities of capital tal and are considered zero-sum game. This means that in market operators. a derivative contract, the losses from one side of the transaction will equal the other side’s gain. Securities are • Making complaints against capital market considered non-zero-sum games. Written by Frank B Donkor. operators. Commodity Spot Markets: Parliament passes As the Ghana prepare for its first Commodity Exchange in the days ahead, it is of imperative to know some of the Security Industry Bill major risk involved in commodity spot transactions.
    [Show full text]
  • 2016 Annual Report
    Securities & Exchange Commission 2016 ANNUAL REPORT 1 Annual Report 2016 Securities & Exchange Commission THE COMMISSION Vision To be an internationally recognized securities market regulator promoting efficient capital market in Ghana and ensuring investor protection. Mission To promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected through the proactive implementation of the securities laws. This involves ongoing supervision and regulation of the Ghanaian securities market, education of market operators, policy makers as well as investors on their respective rights and obligations. Objectives • Enhancement of capital market infrastructure and strengthening the capacity of market institutions and intermediaries. • Providing the legal and regulatory framework for market and product innovation. • Promotion of public awareness, investor rights and corporate education. • Establishment of an overall robust, supportive, legal and regulatory framework that conforms to international best practices. 2 Annual Report 2016 Securities & Exchange Commission TABLE OF Contents Chairman’s Statement 4 Report of the Acting Director-General 9 Corporate Governance Report 14 Profile of Commissioners 18 Management Committee 22 Audit & Risk Management Department 27 Broker-Dealers & Advisors Department 41 Fund Management Department 43 Exchange & Markets Department 46 Issuers Department 48 Policy, Research & Information Technology Department 53 Legal &
    [Show full text]
  • The Viability of Pharmaceutical Manufacturing in Ghana to Address Priority Endemic Diseases in the West Africa Sub-Region 2007
    Trade Programme Division Economic Development and Employment Division Agriculture, Fisheries and Food TRADE MATTERS Trade Related § Aspects of Intellectual Property Rights TRIPS The viability of pharmaceutical manufacturing in Ghana to address priority endemic diseases in the West Africa sub-region 2007 Publisher: Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH Dag-Hammarskjöld-Weg 1-5 65760 Eschborn Internet: http://www.gtz.de Trade Programme Sectoral Project Trade Policy, Trade and Investment Promotion Sectoral Project Agricultural Trade T +49 61 96 79-0 Internet: http://www.gtz.de/trade Contact persons: Regine Qualmann, Thomas Michel Author: Jonathan Harper – GFA Martha Gyansa-Lutterodt – Ghana National Drugs Programme Disclaimer: This study has been commissioned by BMZ and GTZ, Germany. The views expressed in this study are those of the authors only and should not be attributed to BMZ and GTZ. TABLE OF CONTENTS ACRONYMS 1 EXECUTIVE SUMMARY 3 1 INTRODUCTION 5 1.1 Report Purpose 5 1.2 Report in the Context of GTZ Support (and other donor initiatives that address the same area) 5 1.3 Methodology for the Ghana Pharmaceutical Sector Assessment 6 1.4 Issues Examined 7 2 GHANA PROFILE 8 2.1 Demographics 8 2.2 Economic and Political Overview of the ECOWAS / West Africa Sub- Region 9 3 THE PRIORITY ENDEMIC DISEASE SITUATION IN GHANA AND RELEVANT DRUG TREATMENT PROTOCOLS 11 3.1 HIV/AIDS 11 3.2 Malaria 13 3.3 Tuberculosis 15 3.4 Neglected Tropical Diseases 17 4 INTELLECTUAL PROPERTY RIGHTS: TRIPS, COMPULSORY AND VOLUNTARY LICENSING
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 28th January, 2016 ACCRA BOURSE PICKS UP STOCK MARKET The excitement on the Ghana Stock Exchange (GSE) was better INDICATORS WEEK OPEN WEEK END CHANGE last week, as appetite in the Insurance, Banking and pharmaceutical sectors improved. Shares of SIC Insurance Market Capitalization 56,741.36 56,975.36 0.41% Company Limited (SIC), Ecobank Transnational Incorporated (GH¢'million) Market Capitalization (ETI) and Ayrton Drugs Manufacturing Limited (AYRTN) 14,874.01 14,872.00 -0.01% (US$'million) supported last week’s upward performance. Volume traded (shares) 5,591,140.00 2,041,376.00 -63.49% The GSE Composite Index (GSE-CI) which tracks the Value Traded (GH¢) 10,627,615.23 8,505,745.34 -19.97% performance of the broader market went up to 2,006.29 points, representing a year-to-date gain 0.38% up from the previous Value Traded (US$) 2,785,890.54 2,220,212.56 -20.31% week’s level of 0.19%. Similarly, the GSE Financial Stocks Index Table 1: Market Summary (GSE-FSI) improved its year-to-date gain to 0.77% from the previous week’s 0.20%. The SIC-FSL Top-15 liquid Index also INDEX ANALYSIS closed at an annual loss of -1.27% better than the -2.83% INDICATORS Closing Week YTD recorded in the week before Level Change CHANGE The value of listed companies on the GSE also appreciated by GSE Composite Index 2,006.29 0.38% 0.57% 0.41% to GH¢56.98 billion, whereas an equivalent dollar value dropped marginally to settle at USD14.87 billion.
    [Show full text]
  • Members' Profile
    MEMBERS’ PROFILE The Leading Voice of the private sector MEMBERS’ PROFILE The Leading Voice of the private sector Members’ Profile | 3 1 DANPONG HEALTHCARE LTD 67 Nungua Link, Spintex Road, Baatsona, Accra-Ghana COMPANY PROFILE What has grown to become the Danpong Group of Companies started as Danpong Pharmacy (GH) Ltd in September 1989, when Dr. Yaw Adu Gyamfi (Dr. Danpong) formed his initial pharmacy supply company. He launched his first pharmacy shop at Nungua in 1991 with only eight workers, toiling from 7am to 11pm – and often after hours – to build a community pharmacy that was loved by the people of Nungua. In October 1999, Dr Gyamfi expanded his business and set up a bigger pharmacy, a 15-bed clinic, and a modern medical lab at Baatsona, on Spintex Dr. Yaw Adu Gyamfi Road. CEO Through hard work, the sale of quality drugs and high health standards, the Danpong Group became widely known, with loyal customers coming from the nearby community and even further afield, with many referrals from various clinics and hospitals in Ghana. In 2005, Dr Gyamfi also started Danadams Pharmaceuticals Ltd, which focused on manufacturing and selling antiretroviral agents for HIV treatment, and anti-malarial medications. 4 | Members’ Profile Throughout its existence, the Danpong Group has As a company, we are committed to a vision of been committed to promoting good health. In the raising the standard of healthcare in Ghana, where past few years, the company has organized various our services are motivated by quality, affordability, health campaigns and medical screenings for the accessibility, and excellence in all we do.
    [Show full text]
  • University of Education, Winneba Impact of International Financial Reporting Standard (Ifrs) Adoption on the Financial Performan
    University of Education,Winneba http://ir.uew.edu.gh UNIVERSITY OF EDUCATION, WINNEBA IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION ON THE FINANCIAL PERFORMANCE OF AN ORGANISATION: A CASE OF GUINNESS GHANA BREWERIES DANIEL AKWASI ASUBOAH 2019 i University of Education,Winneba http://ir.uew.edu.gh UNIVERSITY OF EDUCATION, WINNEBA IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION ON THE FINANCIAL PERFORMANCE OF AN ORGANISATION (A CASE OF GUINNESS GHANA BREWERIES) DANIEL AKWASI ASUBOAH 7171320011 A Project Report in the Department of Accounting Studies Education, Faculty of Business Education, Submitted to the School of Graduate Studies in partial fulfilment of the requirements for the award degree of Master of Business Administration (Accounting) in the University of Education, Winneba JUNE, 2019 ii University of Education,Winneba http://ir.uew.edu.gh DECLARATION STUDENT’S DECLARATION I, DANIEL AKWASI ASUBOAH, declare that this project report, with the exception of quotations and references contained in published works which have all been identified and duly acknowledged, is entirely my own original work, and it has not been submitted, either in part or whole, for another degree elsewhere. SIGNATURE:……………………………. DATE:……………………………………. SUPERVISOR’S DECLARATION I hereby declare that the preparation and presentation of this work was supervised in accordance with the guidelines for supervision of project report as laid down by the University of Education, Winneba. SUPERVISOR’S NAME: DR. JOSEPH MBAWUNI SIGNATURE :………………………… DATE:…………………………………. iii University of Education,Winneba http://ir.uew.edu.gh DEDICATION This work is dedicated to my wonderful parents Mr. George Opoku, Madam Yaa Addai and Madam Akua Asantewaah. Finally to my spiritual counselor Apostle Israel Frimpong for all his prayers and support, God richly bless them all.
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT RESEARCH| MARKET REVIEWS|GHANA 5th March, 2014 SIC FINANCIAL SERVICES LIMITED|ADVISORY|FUND MANAGEMENT|STOCK BROKERAGE|INVESTMENT RESEARCH STOCK MARKET ACCRA BOURSE REVERSES TREND Appreciations in the insurance, bank, consumer goods and INDICATORS WEEK OPEN WEEK END CHANGE petroleum sectors last week proved sufficient to reverse last month’s declining performance of the Ghanaian Stock Market Capitalization (GH¢ 'million) 59,286.99 58,450.11 -1.41% Exchange (GSE). Market Capitalization (US$' million) 23,548.08 23,118.34 -1.82% Volume traded (shares) 931,734.00 2,717,115.00 191.62% Key performance indicators pointed north, following the advantage gainers had in magnitude over laggards. The Value Traded (GH¢) 2,752,403.38 6,061,845.67 120.24% GSE Composite index increased to 2,420.62 points, from Value Traded (US$) 1,093,221.34 2,397,597.46 119.31% the previous week’s level of 2,416.96 points, representing Table 1: Market Summary a year-to-date change of 12.84%. The SIC-FSL Top 15 Index (SIC-FSL T-15) which tracks the performance of the INDEX ANALYSIS top 15 liquid equities also went up by 0.51% on the back of price appreciations in Ecobank Transnational INDICATORS Closing Week YTD Incorporated (ETI), Fan Milk Limited (FML), SIC Insurance Level Change CHANGE Company Limited (SIC) and Total Petroleum Ghana Limited (TOTAL). GSE Composite Index 2,420.62 0.15% 12.84% SIC-FSL Top 15 Index 3,937.61 0.51% 13.61% However, the Financial Stocks Index (FSI) slipped by 0.47% to close at an annual yield of 20.52% over the GSE Financial Stocks Index 2,153.28 -0.47% 20.52% week.
    [Show full text]