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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 .................................................................................................................................................... -
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. -
PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT and CONSOLIDATED FINANCIAL STATEMENT for the YEAR
PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 GOIL has released its Annual Report and Consolidated Financial Statements for the year ended December 31, 2018 as per the attached. Issued in Accra, this 9th day of April, 2019 - E N D – att’d. Distribution: 1. All LDMs 2. General Public 3. Company Secretary, GOIL 4. MBG Registrars, (Registrars for GOIL shares) 5. Custodians 6. Central Securities Depository 7. Securities and Exchange Commission 8. GSE Council Members 9. GSE Notice Board For enquiries, contact: Head Listing, GSE on 0302 669908, 669914, 669935 *GA GHANA OIL COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 GHANA OIL COMPANY LIMITED ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 CONTENTS PAGE COMPANY INFORMATION 1 REPORT OF THE DIRECTORS 2 - 3 REPORT OF THE AUDITOR 4 - 7 STATEMENT OF COMPREHENSIVE INCOME 8 STATEMENT OF FINANCIAL POSITION 9 STATEMENT OF CHANGES IN EQUITY 10 STATEMENT OF CASH FLOWS 11 GENERAL INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 12 - 26 OTHER NOTES TO THE FINANCIAL STATEMENTS 27 - 40 GHANA OIL COMPANY LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2018 BOARD OF DIRECTORS: Hon. Peter Kwamena Bartels - Chairman Mr. Patrick Akpe K. Akorli - Group CEO/MD Mr. Thomas Kofi Manu - Member Hon. Kwame Osei-Prempeh - Member Mr. Beauclerc Ato Williams - Member Mrs. Beatrix Agyeman Prempeh - Member Mr. Robert Owusu Amankwah - Member Mrs. Rhoderline Baafour-Gyimah - Member Mr. Stephen Abu Tengan - Member SECRETARY: Nana Ama Kusi-Appouh AUDITOR: PKF Chartered Accountants Farrar Avenue P.O. -
16 Annual Report
47th Annual Report and Financial Statements 30 SEPTEMBER 2016 2 - 47th annual report & financial statement AUDITORS AND REGISTERED OFFICE Auditors KPMG (ICAG/F/2014/038) Chartered Accountants 13 Yiyiwa Drive, Abelenkpe Post Office Box 242 Accra. Registered Office Cocoa House 41 Kwame Nkrumah Avenue Post Office Box GP 933 Accra Tel. 233 -302 – 661752/678972/661782/683300 Fax: 233 -302- 667104/665076 E-mail: [email protected] Website: www.cocobod.gh 2 - 47th annual report & financial statement I - 47th annual report & financial statement TABLE OF CONTENTS Auditors i Registered Office i Table of Contents ii Highlights iii Board of Directors 2015/16 iv Heads of Subsidiaries and Divisions 2015/16 iv Chairman’s Statement v Review of Business Operations 1 1. Producer Price 1 2. Cocoa Purchases Performance and Licensed Buying Companies 1 3. Coffee and Sheanut Purchases/Exports 2 4. Performance of Divisions and Subsidiaries 4 A. Quality Control Company 4 a. Selective Grading of cocoa 4 b. Grading and Sealing 5 i. Cocoa 5 ii. Composition of Bean-size Categories 5 iii. Other Produce Inspected 5 c. Check Sampling 5 d. Disinfestation Activities 5 1. Insect Control Operations 5 2. Shipment Inspection and Treatment 5 B. Cocoa Marketing Company (Gh.) Ltd. 6 a. Shipments and Processing 6 i. Cocoa Beans 6 ii. Cocoa Products 6 C. Seed Production Division 6 a. Hybrid Seed Pods 7 b. Cocoa Seedlings 7 47th annual report & financial statement - II Table of contents cont. D. Cocoa Health & Extension Division 7 a. Field Operations 7 b. CODAPEC & Hi-Tech 8 E Cocoa Research Institute of Ghana 9 TABLE OF a. -
Good Energy Contents Contents
ANNUAL REPORT AND 2014 FINANCIAL STATEMENTS Good energy contents contents 02 Company Information 03 Notice of 46th Annual General Meeting 04 Resolutions to be passed at the Annual General Meeting 05 Profile of New Directors to be Elected 06 Board of Directors 07 Address by Chairman 10 Management Team 11 Report of the Directors on The Financial Statements 13 Corporate Governance 14 Disclosure Requirements 16 Independent Auditor's Report 18 Statement of Comprehensive Income 19 Statement of Financial Position 20 Statement of Changes in Equity 21 Statement of Cash Flow 22 Notes to The Financial Statements 43 Proxy Form GOIL Annual Report & Financial Statements 2014 Company Information Notice of 46th Annual General Meeting BOARD OF DIRECTORS Prof. William A. Asomaning – Chairman NOTICE IS HEREBY GIVEN that the 46th Annual General Meeting of the Shareholders of Ghana Oil Mr. Patrick Akpe Kwame Akorli – Managing Director Company Limited will be held at the Auditorium, College of Physicians and Surgeons, Ridge, Accra on Hon. Nii Laryea Afotey-Agbo – Member Thursday, 30th April, 2015 at 11:00 am for the transaction of the following business: Nana Esuman Kwesi Yankah – Member Mr. Eugene Akoto-Bamfo – Member Mr. Chris A-Ackummey – Member AGENDA Mad. Faustina Nelson – Member Mr. Thomas Kofi Manu – Member ORDINARY BUSINESS Hon. Kojo Bonsu – Member 1. To receive and consider the reports of the Directors and the Auditors and the Financial Statements of the Company for the year ended December 31, 2014. 2. To declare a dividend for the year ended December 31, 2014. SECRETARY Mr. Stephen Y. Gyaben 3. To elect Directors to replace retiring Directors. -
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. -
2012-Edition-GC100-Directory.Pdf
2012 2012 DIRECTORY DIRECTORY NAME OF COMPANY BUSINESS CATEGORY LOCATION ADDRESS TELEPHONE FAX/E-MAIL/WEBSITE CONTACT PERSON TITLE 7 Dr. Amilcar Cabral Road, Accra (233-302) 770189/90/91 “(233-302) 770187 1 Abosso GoldFields Limited Mining Institution Airport Residential Area P. O. Box KA 30742 www.goldfields.co.za” Alfred Baku Managing Director Accra Banking Services [email protected] Head, Corporate 2 Acces Bank (Ghana) (Commercial & Merchant) “Starlets ‘91 Road “P. O. Box GP 353 Osu- Accra” (233-302) 684860 / 742699 www.accessbankplc.com/gh Matilda Asante-Aseidu Communications (233-302) 2688960 3 Accra Brewery Manufacturing - Beverages Opp. Ohene Djan Staduim” P. O. Box GP351 (233-302) 688851-6 [email protected] Gregory Metcalf Managing Director www.sabmiller.com (233-302) 685176 4 Activa International Insurance Company Non-Banking-Insurance Graphic Road, Adabraka PMB KA 85 (233-32) 686352 / 672145 [email protected] Limited www.group-activa.com “P. O. Box 35 Banking Service-Rural & 3rd Floor Heritage Tower, 6th Ave. West (233-322) 420926 / 90099 Lucy Opoku-Arthur Ag General Manager 5 Adansi Rural Bank Limited Community Banking Ridge, Accra Fomena-Adansi” Banking Services-Rural & 6 Adonten Community Bank Limited Community Banking Head Office: Fomena - Adansi P.O.Box 140 3420-24109/027-895636/027-7609343 3420-26780 [email protected] Mr.Francis Mensah Senior Manager Banking Services-Rural & 7 Ahantaman Rural Bank Limited Community Banking New Tafo, Akyem, Eastern Region P. O. Box 41, Ahanta (233-312) 23431 / 21016 (233-312)29116 David Bampoe General Manager Banking Services-Rural & 8 Amanano Rural Bank Limited Community Banking Agona Ahanta,Western Region P. -
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. -
Ghana National Petroleum Corporation List of Registered Service Companies with Permit
GHANA NATIONAL PETROLEUM CORPORATION LIST OF REGISTERED SERVICE COMPANIES WITH PERMIT OWNERSHIP START DATE OF EXPIRY DATE OF 1st Renewal COUNT SERIAL NO. NAME OF COMPANY ADDRESS CONTACT NUMBER RANGE OF SERVICES PROPOSED STRUCTURE PERMIT PERMIT (expiry date) Industrial area Extension road, Ronfort Provision of 3rd party labour (On/Offshore), Office/warehouse Ghanaian co. with more Foundation Int., Takoradi Tel: 0243-431805 rental, full fabrication facilities, marine engineering, repairs and than 50% Ghanaian 1 001108 Seaweld Engineering Ltd. P. O. Box 574 Tema. Email: [email protected] maintenance, Tank cleaning, procurement, handling of waste. ownership 1-Sep-08 31-Aug-09 28-Dec-10 Thokey House, Comm4, Opposite SEGECO Tel: 022-205557 Logistics, Labour supply, Catering, Marine supply vessels, Car rental, Ghanaian co. with more Flats. Fax:022-205558 Pipe yard/Warehouse, Shipping agency, clearing & forwarding Crude oil than 50% Ghanaian 2 002108 Menergy (Ghana) Limited P. O. Box CO2932, Tema Email: [email protected] brokerage&lifting ownership 1-Sep-08 31-Aug-09 31-Aug-10 Tel: 022-302474, 022-302291 Plot A/34/4, Steel works Road, Heavy Fax:022302474 Ghanaian co. with more Industrial Area, Tema. Email:[email protected] / Importation of Chesterton Products, Maintenance of Chesterton's plants, than 50% Ghanaian 3 003108 Gulf Engineering Services Ltd P. O. Box CO 1642, Tema [email protected] machinery and equipment. ownership 1-Sep-08 31-Aug-09 Logistical services related to import and export of oilfield equipment, principally handling of sea and airfreight, transportation of materials, Ghanaian co. with more Commercial Warehouse Road, Main warehousing, storage, ship agency services, meet and greet, aircraft than 50% Foreign 4 004108 SDV Ghana Limited Harbour Area, P. -
Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 8th January, 2015 STOCK MARKET ACCRA BOURSE MAKES PROMISING START INDICATORS WEEK OPEN WEEK END CHANGE The year 2014 has begun living up to expectations as bullish runs in equities from the petroleum, finance and consumer Market Capitalization (GH¢ goods sectors saw the annual returns of the broader market 'million) 64,352.42 64,229.12 -0.19% Market Capitalization (US$' inch up to 0.42% last Thursday. Though, most equities gave million) 20,109.50 20,014.06 -0.47% up their opening prices, rise in the market value of Ghana Oil Petroleum Company Limited (GOIL), Societe Generale Ghana Volume traded (shares) 783,118.00 573,274.00 -26.80% Table 1: Market Summary Limited (GOIL) and Fan Milk Limited (FML) were enough to close the week’s activities on a positive note. Key benchmark indices closed the week better despite slight volatilities during inter-day trading. The GSE Composite INDEX ANALYSIS index closed at a year-to-date return of 0.42% whiles the GSE Financial Stocks Index settled at 0.67% returns. INDICATORS Closing Week YTD Level Change CHANGE Total market capitalization of the Ghana Stock Exchange was GH¢64.23 billion, an equivalent to USD20.00 billion. GSE Composite Index 2,270.57 0.42% 0.42% GSE Financial Stocks Index 2,258.77 0.67% 0.67% Table 2: Key Stock Market Indices LIQUIDITY The absence of block trades over the period saw liquidity comparatively down last week. All in all, an approximate figure of 573,274 shares exchanged hands within the first trading week of the year, and was also valued about GH¢2.48 million. -
Ghana Oil & Gas 2012
Ghana Oil & Gas 2012 Economy • Exploration • Oil • Natural Gas • Challenges • Services Global Business Reports Industry Explorations CREDITS EDITORIAL AND MANAGEMENT TEAM Senior Journalist: Angela Harmantas [email protected] Journalist: Tom Hurst [email protected] Project Coordinator: Pavlina Pavlova [email protected] General Manager: Agostina Da Cunha [email protected] Regional Manager: Sharon Saylor [email protected] Graphic Designer: Gonzalo Da Cunha [email protected] Editor: Barnaby Fletcher For more information about GBR, please email [email protected]. For updated industry news from our on-the-ground teams around the world, please follow us on Twitter: @GBReports. THANK YOU GBR would like to thank the following associations for their help in the research of this project: Ministry of Energy www.energymin.gov.gh Ghana Energy Commission www.energycom.gov.gh Ghanaian National Chamber of Commerce & Industry www.ghanachamber.org Ghana Investment Promotion Centre (GIPC) www.gipcghana.com Petroleum Commission We would also like to sincerely thank all the companies that took the time to give their insights on the market, with a special mention to George Aboagye, CEO, Ghana Investment Promotion Centre (GIPC), for his written contribution to this book, as well as to Leslie Asamoa, Consultant to the Finland-Ghana Chamber of Commerce (FINGHCC) for his assistant. Industry Explorations Global Business Reports // BRAZIL CHEMICALS 2012 72 Global Business Reports Industry Explorations INTRODUCTION LETTER Dear readers, Simply put, Ghanaians truly value their reputation as one of the African con- Akwaaba. tinent’s most stable, investor-friendly countries, and take great pride in main- A simple word, meaning “welcome” in taining it as such. -
Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 15th January, 2015 STOCK MARKET PROFIT-TAKING SLOWS DOWN MARKET PERFORMANCE INDICATORS WEEK OPEN WEEK END CHANGE Despite, the excitement that characterized market activities last week, performance of the bourse dipped on the back of Market Capitalization profit-taking by shareholders. Shares of Ecobank (GH¢'million) 64,229.12 63,654.84 -0.89% Market Capitalization Transnational Incorporated (ETI), Cocoa Processing Company (US$'million) 20,014.06 19,779.64 -1.17% (CPC), UT Bank (UTB), GCB Bank (GCB), Ecobank Ghana Limited (EBG) and SIC Insurance Company Limited (SIC) were Volume traded (shares) 573,274.00 4,233,537.00 638.48% responsible for last week’s sluggish performance. Value Traded (GH¢) 2,482,296.35 2,251,183.89 -9.31% In effect, benchmark indices turned southward, as the yield on Value Traded (US$) 773,493.81 699,516.47 -9.56% the GSE-Composite Index dipped by 1.02% to settle at an Table 1: Market Summary annual drop of 1.44%. Similarly, the GSE Financial Stock INDEX ANALYSIS Index (GSE-FSI) which tracks the performance of financial stocks fell by 0.99% to close at a drop of 1.66% from INDICATORS Closing Week YTD beginning of year to-date. Level Change CHANGE The value of all listed companies (market capitalization) also GSE Composite Index 2,228.48 -1.85% 0.42% went down by 0.89% to settle at GH¢63.65 billion from the GSE Financial Stocks Index 2,206.33 -2.32% 0.67% previous GH¢64.23 billion, which is is attributable to the Table 2: Key Stock Market Indices marginal depreciations of the local currency during the period under review.