DOCSLIB.ORG

20% 11.6% 13.3% +49.3%

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

MONTHLY MARKET REPORT – NOVEMBER 2017 Fund Management Investment Advisory Services Pension Management DOING IT RIGHT! INFO: +233 (0) 50 1453564 Market Report - November 2017 by Pent Assets Research Foreign Exchange Market of the month’s target of 4.4 billion cedis, compared to the previous month’s issue of 97 Increased demand for foreign currencies, percent of 4.3 billion cedis target. The 91-day particularly by importers, during November bill constituted the highest share of issued FAST FACTS exerted a considerably high pressure on the securities with 77 percent. Ghana cedi. The currency lost 0.8 percent m/m against the US dollar, 2.8 percent against the Equities Market British Pound and 3.1 percent against the The stock market was bullish in November. 20% Euro. Overall, the performance of the cedi in The benchmark GSE Composite Index gained Monetary Policy Rate 2017 as at close of November stood at 4.8 160.19 points [6.8 percent] to close the month percent depreciation, 12.9 percent at 2521.67 points, yielding a year-to-date depreciation and 15.6 percent depreciation return of 49.3 percent. Market capitalization versus the US dollar, British Pound and the rose 0.8 percent to 58.50 billion cedis. 11.6% Euro, respectively. See the table below. Consumer Inflation Interbank Foreign Exchange Nov-2017 Month Chg. (%) YTD Chg. (%) USD/GHS 4.4122 -0.8% -4.8% GBP/GHS 5.9638 -2.8% -12.9% EUR/GHS 5.2572 -3.1% -15.6% 13.3% negative (-) refers to "depreciation" 91-Day T-Bill Yield Government Securities Movement of yields on government of Ghana short-term treasury securities were generally +49.3% mixed. The 91-day bill gained 10 basis points Overall, the market recorded 8 gainers and 10 YTD Return – GSE Composite Index (bps) to close the month at 13.34 percent per losers during the month. ADB, SCB and UNIL annum, yielding a year-to-date decline of 309 were the top gainers with 47.3 percent, 22.4 bps whereas the 182-day bill lost 20 bps to percent and 20.8 percent m/m gains, respectively. MLC, ETI and SIC were the top 13.86 percent per annum. Yield on 1-year note -4.8% remained flat at 15.00 percent. See the table losers with 33.3 percent, 11.1 percent and 10.0 USD/GHS YTD Performance percent losses, respectively. See the table below. Treasury Securities below. Month Chg. YTD Chg. Top Winners (November 2017) Nov-2017 (bps) (bps) Price Gain % Chg. +20.3% 91-Day T-Bill 13.34% 10 -309 Agricultural Development Bank 5.64 1.81 47.3% Pent RISave Annualized Yield Bill 13.86% -20 -378 Standard Chartered Bank Gh. Ltd. 24.00 4.40 22.4% 1-Yr Note 15.00% 0 -600 Unilever Ghana Ltd. 12.80 2.20 20.8% Losers (November 2017) FOR MORE INFORMATION Overall, demand for treasury securities Price Loss % Chg. weakened during the month. The government Mechanical Lloyd Co. Ltd. 0.06 -0.03 -33.3% James Adjei Barimah (MBA, MA, BSc.) Ecobank Transnational Inc. 0.16 -0.02 -11.1% Research Analyst | Mobile: 020 671 4756 issued 74 percent (i.e. approx. 3.3 billion cedis) SIC Insurance Company Ltd. 0.09 -0.01 -10.0% Email: [email protected] MONTHLY MARKET REPORT – NOVEMBER 2017 2 Annex: Equities Share Closing Price (GHS) Closing Price (GHS) Month/Month Year-to-Date Return ISIN Name Code November 30 October 31 Return (%) (November 30) GH0000000615 AngloGold Ashanti Depository Shares AADS 0.48 0.48 0.00% -7.69% GHEABGO43772 Access Bank Ghana PLC ACCESS 4 3.91 2.30% -2.44% GH0000000193 African Champion Ltd ACI 0.01 0.01 0.00% 0.00% GHEADB043726 Agricultural Development Bank ADB 5.64 3.83 47.26% 47.26% GH0000000607 AngloGold Ashanti Ltd. AGA 37 37 0.00% 0.00% GH0000000037 Aluworks Ltd. ALW 0.16 0.16 0.00% 14.29% GH000000000672 Ayrton Drug Manufacturing Ltd. AYRTN 0.1 0.1 0.00% -16.67% GH000000000581 Benso Oil Palm Plantation BOPP 6.05 6 0.83% 190.87% GH000000000649 Cal Bank Ltd CAL 1.05 1.05 0.00% 40.00% GH0000000573 Clydestone (Ghana) Ltd. CLYD 0.03 0.03 0.00% 0.00% GH0000000227 Camelot Ghana Ltd. CMLT 0.11 0.11 0.00% -8.33% GH0000000540 Cocoa Processing Co. Ltd. CPC 0.02 0.02 0.00% 0.00% GH0000000680 Ecobank Ghana Ltd. EGH 7.55 7.59 -0.53% 17.97% GH0000001001 Enterprise Group Ltd. EGL 3.83 3.96 -3.28% 59.58% TG0000000132 Ecobank Transnational Inc. ETI 0.16 0.18 -11.11% 60.00% GH0000000078 Fan Milk Ltd. FML 18 19.39 -7.17% 61.58% GH0000000094 GCB Bank Ltd. GCB 4.5 4.21 6.89% 26.40% GH0000000102 Guinness Ghana Breweries Ltd. GGBL 2.06 1.75 17.71% 26.38% ZAE000060067 NewGold GLD 38.8 38.8 0.00% 0.00% GH0000000722 Ghana Oil Company Ltd. GOIL 2.67 2.5 6.80% 142.73% GH0000000748 Golden Star Resources Ltd. GSR 1.9 1.9 0.00% -2.56% GH0000000631 Golden Web Ltd GWEB 0.01 0.01 0.00% 0.00% GH0000000110 HFC Bank (Ghana) Ltd. HFC 1.39 1.39 0.00% 85.33% GH0000001233 Hords Ltd HORDS 0.1 0.1 0.00% 0.00% GH0000001258 Intravenous Infusions Ltd. IIL 0.09 0.09 0.00% 0.00% GH0000000118 Mega African Capital Ltd MAC 5.98 6 -0.33% -0.33% GH0000000136 Mechanical Lloyd Co. Ltd. MLC 0.06 0.09 -33.33% -60.00% GH0000001217 Meridian Marshalls Holding Company MMH 0.11 0.11 0.00% 0.00% GH0000000169 PBC Ltd. PBC 0.06 0.06 0.00% 0.00% GH0000000151 Pioneer Kitchenware Ltd. PKL 0.05 0.05 0.00% 0.00% GH0000000177 PZ Cussons Ghana Ltd. PZC 0.2 0.2 0.00% -9.09% GH0000001183 Samba Foods Ltd. SAMBA 0.65 0.65 0.00% -9.72% GH0000000185 Standard Chartered Bank Gh. Ltd. SCB 24 19.6 22.45% 97.04% GH0000000664 Standard Chartered Bank Pref. Shares SCB PREF 1.2 1.2 0.00% 60.00% GH0000000730 SIC Insurance Company Ltd. SIC 0.09 0.1 -10.00% -25.00% GH0000000201 Societe Generale Ghana Ltd. SOGEGH 0.75 0.76 -1.32% 20.97% GH0000000623 Starwin Products Ltd. SPL 0.03 0.03 0.00% 0.00% GH0000000516 Sam Woode Ltd. SWL 0.05 0.05 0.00% 25.00% GH0000000532 Trust Bank Gambia Ltd TBL 0.35 0.35 0.00% 34.62% GH0000001050 Tullow Oil Plc TLW 17.2 17.3 -0.58% -36.01% GH0000000144 Total Petroleum Ghana Ltd. TOTAL 3.5 3.65 -4.11% 76.77% GH0000000706 Transaction Solutions (Ghana) Ltd. TRANSOL 0.03 0.03 0.00% 0.00% GH0000000219 Unilever Ghana Ltd. UNIL 12.8 10.6 20.75% 50.41% Sources: Bank of Ghana, Ghana Stock Exchange, Ghana Statistical Service and Doobia. Disclaimer: This report is for general information purposes only and is not intended as a recommendation or an offer or solicitation for the purchase or sale of any security. Any person considering an investment should consider the appropriateness of the investment having regard to their objectives, financial situation, or needs, and should seek independent advice on the suitability or otherwise of a particular investment. .
Recommended publications
  • Clydestone Group Annual Report and Consolidated Financial Statements

    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.
  • 2017 Annual Report and Financial Statements

    2017 Annual Report and Financial Statements

    2017 ANNUAL REPORT AND FINANCIAL STATEMENTS 2017 ANNUAL REPORT AND FINANCIAL STATEMENTS SAS FORTUNE FUND LIMITED 3 SAS FORTUNE FUND LIMITED CORPORATE INFORMATION The Manager: SAS Investment Management Ltd. (SAS-IM) 14th Floor WTCA Building, Indep. Avenue, Accra Tel: +233-302-661770/2/008/880 +233-302-661900 Fax: +233-302-663999 E-mail: [email protected] Website: www.sasghana.com Directors of the Fund: Maxwell Logan (Chairman) Togbe Afede XIV Apiigy Afenu (Removed on 6th July 2017) Nana Soglo Alloh (Removed on 6th July 2017) Paul Hammond The Custodian: Standard Chartered Securities Services Head Office P. O. Box 768 Accra Independent Auditors: Nexia Debrah & Co. (Chartered Accountants) BCB Legacy House # 1 Nii Amugi Avenue East Adabraka, Accra P. O. Box CT 1552 Cantonments, Accra Solicitors: R. S. Agbenoto and Associates 4th Floor Total House 25 Liberia Road Secretary: Accra Nominees Cedar House No. 13 Samora Machel Road Asylum Down, Accra 4 CONTENTS Corporate Information 4 Chairman’s Report 8-9 Fund Manager’s Report 10-15 Report of the Directors 16-17 Report of the Auditors 18-21 Statement of Investment Assets 22-23 Statement of Comprehensive Income 24 Statement of Financial Position 25 Statement of Cash Flows 26 Portfolio Summary 28 SAS Notes to the Financial Statements 29-37 FORTUNE FUND REPORT Report of the Custodian 38-40 Information on Directors 41 AND FINANCIAL STATEMENTS 5 SAS FORTUNE FUND LIMITED NOTICE OF MEETING NOTICE is hereby given that the 13th Annual General Meeting of the Members of the SAS Fortune Fund will be held on Thursday July 26, 2018 at the British Council Hall, Liberia Road, Accra at 12.30 p.m.
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana

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

    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 20th October, 2016 STOCK MARKET ACCRA BOURSE SWINGS BACK Increased bearish sentiment saw major performance INDICATORS WEEK OPEN WEEK END CHANGE indicators on the Ghana Stock Exchange (GSE) swung back last week, following a drop in the shares of blue-chip stocks. Market Capitalization (GH¢'million) 52,780.97 52,542.24 -0.45% Key among these stocks include the shares of Standard Market Capitalization Chartered Bank Limited (SCB, Total Petroleum Ghana Limited (US$'million) 13,299.81 13,254.52 -0.34% (TOTAL), Guinness Ghana Breweries Limited (GGBL) and Volume traded (shares) 348,651.00 1,445,517.00 314.60% GCB Bank Limited (GCB). Value Traded (GH¢) 454,858.25 371,669.73 -18.29% In the end, the yield on the GSE-Composite Index, the GSE Value Traded (US$) 114,615.73 93,758.92 -18.20% Financial Stocks Index (GSE-FSI) and the SIC-FSL Top 15 Table 1: Market Summary liquid Index (T-15 Index) slipped from their previous week losses of 11.25%, 13.08% and 20.52% each to settle at INDEX ANALYSIS 11.98%, 13.79% and 22.18% respectively. INDICATORS Closing Week YTD Level Change CHANGE Total market capitalization of the GSE also dropped from the previous week’s figure of GH¢52.78 billion to GH¢52.54 GSE Composite Index 1,755.90 -0.83% -11.98% billion, whilst an equivalent dollar value also dipped from the previous week’s USD 13.30 billion to USD13.25 billion SIC-FSL Top 15 Index 2,887.49 -2.09% -22.18% last Thursday.
  • Market Report

    Market Report

    Market Report December 2017-Full Year MARKET HIGHLIGHTS GSE STOCK INDICES/CAPITALIZATION DEC 2017 YTD CHANGE DEC 2016 YTD CHANGE GSE COMPOSITE INDEX (GSE-CI) 2,579.72 52.73% 1,689.09 -15.33% GSE FINANCIAL STOCK INDEX (GSE-FSI) 2,310.58 49.51% 1,545.41 -19.93% MARKET CAPITALIZATION (GH¢ M) 58,803.96 11.48% 52,690.99 -7.75% DOMESTIC CAPITALIZATION (GH¢ M) 16,244.34 45.23% 10,877.03 -2.75% MARKET TURNOVER - EQUITIES DEC 2017 DEC 2016 VOLUME TRADED 7,013,135 129,056,489 VALUE TRADED (GH¢) 15,250,389.24 8,829,193.14 NUMBER OF TRANSACTIONS 1,002 1,300 TRADING DAYS 18 19 NUMBER OF TRADED SYMBOLS 26 27 MARKET DAILY AVERAGES - EQUITIES DEC 2017 DEC 2016 AVERAGE VOLUME TRADED 389,619 6,792,447 AVERAGE VALUE TRADED (GH¢) 847,243.85 464,694.38 AVERAGE NUMBER OF TRANSACTIONS 56 68 MARKET TURNOVER - EQUITIES JAN TO DEC 2017 JAN TO DEC 2016 VOLUME TRADED 322,725,768 252,833,427 VALUE TRADED (GH¢) 518,381,473.32 242,114,791.53 NUMBER OF TRANSACTIONS 20,755 20,685 TRADING DAYS 247 249 NUMBER OF TRADED SYMBOLS 40 45 MARKET TURNOVER - FIXED INCOME (DEBT) SECURITIES IN GH¢ MILLIONS DEC 2017 DEC 2016 CORPORATE (GH¢ M) - GOG NOTES AND BONDS (GH¢ M) 3,529.73 - MARKET TURNOVER - FIXED INCOME (DEBT) SECURITIES IN GH¢ MILLIONS JAN-DEC 2017 JAN-DEC 2016 CORPORATE (GH¢ M) 990.16 2.84 GOG NOTES AND BONDS (GH¢ M) 27,723.53 12,510.74 LISTINGS DEC 2017 DEC 2016 LISTED COMPANIES (MAIN MARKET AND GAX) 40 41 LISTED EQUITIES (MAIN MARKET) ORDINARY SHARES 36 37 DEPOSITORY SHARES 1 1 PREFERENCE SHARES 1 1 EXCHANGE TRADED FUNDS 1 1 EQUITIES ON GHANA ALTERNATIVE MARKET (GAX)
  • Ssnit Investments Series

    Ssnit Investments Series

    SSNIT INVESTMENTS SERIES SECOND EDITION INTRODUCTION This edition of the SSNIT Investments Series focuses on the Listed Equities Portfolio, one of the three sub-asset classes of the Equities Portfolio. Listed equity refers to ownership interests in companies whose shares are traded publicly on a Stock Market. The Trust currently has share interests in 23 out of the 37 companies listed on the Ghana Stock Exchange (GSE), with a total value of GH¢1.8 billion as at June 2017. A portion of the Trust’s shares in Tullow Oil Plc is also listed on the London Stock Exchange (LSE). The composition of the Trust’s Listed Equities Portfolio, also referred to as the SSNIT Stock Market Portfolio (SSMP), is shown in Table 1. Table 1: SSNIT Listed Equity Holdings # Company Ticker Shareholding (%) 1 Anglogold Ashanti Ltd. AGA 0.02% 2 Aluworks Limited ALW 62.62% 3 Ayrton Drug Man. Ltd. AYRTN 18.00% 4 Benso Oil Palm Plantation BOPP 4.31% 5 CAL Bank Limited CAL 33.18% 6 Cocoa Processing Co. Ltd. CPC 10.14% 7 Ecobank Ghana Ltd. EGH 16.21% 8 Enterprise Group Ltd EGL 6.22% 9 Ecobank Transnational Inc. ETI 3.86% 10 Fan Milk Limited FML 1.59% 11 GCB Bank GCB 29.89% 12 Guinness Gh. Breweries Ltd. GGBL 7.57% 13 Ghana Oil Co. Ltd. GOIL 25.00% 14 Golden Web Ltd. GWEB 20.78% 15 HFC Bank Ltd. HFC 26.09% 16 Produce Buying Co. Ltd. PBC 38.10% 17 Standard Chartered Bank SCB 14.55% 18 SIC Insurance Ltd.
  • Third Quarter 2019

    Third Quarter 2019

    MARKET OUTLOOK Q3 2019 MARKET REVIEW AND Q4 2019 OUTLOOK MARKET REPORTS Q3 2019 Macro Recap Economic Activity Marginally Lower GDP Year-on-Year Change (%) Global economic growth remained largely subdued due to trade tensions, 9.0 8.5 8.4 brexit and geopolitical issues. These led to a growing appetite in fixed 8.0 7.4 income securities, pushing debt to negative yields. According to the IMF, 6.8 6.7 global growth is forecast at 3% in 2019, picking up to 3.4% in 2020. 7.0 6 5.4 5.7 Domestically, growth has remained positive. Ghana’s provisional Real Gross 6.0 5 Domestic Product (GDP) in volume terms was estimated to have increased 5.0 4.3 to 5.7% in Q2 2019. When seasonally adjusted, Real GDP was 1.4% in Q2 4.0 2019; down from 1.6% in Q1 2019. The main sub-sectors driving growth in 3.0 the April to June 2019 GDP were Information & Communication, Mining & 2.0 Quarrying, Health & Social Work and Real Estate. 1.0 There was a weakness in economic activity in July 2019. The Composite of 0.0 Economic Activity recorded an annual real decline from 4.3% in July 2018 to 2018_Q2* 2018_Q3* 2018_Q4* 2019_Q1* 2019_Q2* 2.1% in July 2019. The key drivers of economic activity during the period were private sector credit expansion, contributions to SSNIT by the private *Provisional Oil GDP Non-Oil GDP sector, port activity, exports, and domestic VAT. Confidence surveys by the BoG show that on a y-o-y basis, business and 2 consumer confidence declined in Aug-19.
  • Ecobank Full Year Review

    Ecobank Full Year Review

    Analysts Weekly Markets Update Wilfred Agyei Kofi Busia Kyei Rudolf Cofie Tel: +233(0)302 251137 Website: www.umbcapital.com Our Opinion: SELL FEATURE FOR THE WEEK Ecobank’s full year profit declines by 21.56% Return on Equity (DuPont) Performance on the Stock Market 40.00% 37.18% Ecobank Ghana started 2017 at GHS6.40 and appreciated to GHS7.60 (as at 35.00% 34.19% December 2017), translating to a gain of 18.75%, reflecting positive sentiments 30.00% towards the banking giant. The 18.75% gain is better compared to the -8.70% 25.00% 24.87% and -7.76% recorded the same period a year ago and in 2015 respectively. 20.00% It has posted a 52-Week-High of GHS8.05, and a 52-Week Low of GHS6.40, 15.00% Wilfred Agyei with a PE Ratio of 8.74x, with an average price of GHS7.24 over the past 200 10.00% [email protected] days. 5.00% Trading activity has been brisk; a total volume of 3,395,200 shares of the bank 0.00% 2015 2016 2017 exchanged positions during 2017, this is higher than the 1,268,288 shares traded during 2016. Total value of shares traded amounted to GHS22,799,190 significantly higher than the GHS8,607,580 recorded in 2016. Return on Equity fell from 34% to 25% due to the sharp decline in the Net Profit Margin from 37% to 29%. Common Size Analysis FINANCIAL STATEMENT SUMMARY Proportion of Interest income 2017 2016 2015 100.00% INCOME STATEMENT GHS 000 GHS 000 GHS 000 81.92% Interest Income 885,483 878,914 790,961 80.00% Net Profit 255,384 325,594 327,523 64.36% 66.00% 60.00% BALANCE SHEET 41.41% Total Assets 9,098,692 8,025,510 6,587,487
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana

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

    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 7th December, 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 GSE STARTS ON POOR NOTE The Ghana Stock Exchange (GSE) started the festive month on INDICATORS WEEK OPEN WEEK END CHANGE a poor note despite strong numerical strength of gainers over Market Capitalization laggards. Out of the seven (7) price movers, four (4) equities (GH¢'million) 58,503.37 58,219.42 -0.49% were ticked-up with the rest dipping. Shares of Access Bank Market Capitalization (US$'million) 13,259.46 13,198.09 -0.46% Limited (ACCESS), Ecobank Transnational Incorporated (ETI) and Ghana Oil Company Limited (GOIL) were the most Volume traded (shares) 5,019,353.00 2,297,271.00 -54.23% affected. Value Traded (GH¢) 13,765,756.99 2,664,838.94 -80.64% The yield on the GSE Composite Index (GSE-CI) dropped from Value Traded (US$) 3,119,930.42 604,107.49 -80.64% 2,521.67 points to 2,508.53 points, resulting in year-to-date Table 1: Market Summary gain 48.51%. Similarly, the GSE Financial Stocks Index (GSE- CI) and the SIC-FSL Top 15 Index (SIC-FSL T-15) closed at INDEX ANALYSIS year-to-date returns of 43.15% and 50.42% respectively INDICATORS CLOSING WEEK YTD lower than 44.19% and 52.42% recorded in the previous LEVEL CHANGE CHANGE week. GSE Composite Index 2,508.53 -0.52% 48.51% Total market capitalization dropped from the previous week’s SIC-FSL Top 15 Index 3,922.78 -1.31% 50.42% figure of GH¢58.50 billion to GH¢58.22 billion last Thursday.
  • Databank Weekly Market Watch

    Databank Weekly Market Watch

    March 3, 2017 GSE MARKET STATISTICS SUMMARY Weekly Stock Market Review SCB Tops Gainers Chart for 3rd Consecutive Week: The bulls maintained their Current Previous % Change hold on the equities market this week, supported by price gains in 7 counters. Databank Stock Index 24,460.95 24,329.82 0.54 The Ghana Stock Exchange’s Composite Index (GSE-CI) increased by 11.09 points GSE-CI Level 1,868.19 1,857.10 0.60 w/w to ~1,868 points, while the Databank Stock Index advanced by 131.13 points Market Cap (GH¢ m) 49,147.28 52,310.92 -6.05 w/w to ~24,461 points. The year to date returns of the GSE-CI and the Databank YTD Return DSI 9.53% 8.94% Stock Index thus increased to 10.60% and 9.53% respectively. YTD Return GSE-CI 10.60% 9.95% Market activity was vibrant this week. A block trade in Guinness Ghana Weekly Volume Traded (Shares) 3,567,878 921,507 287.18 Breweries pushed up the volume of shares traded by ~% w/w to ~3.57 million Weekly Turnover (GH¢) 4,603,367 4,555,231 1.06 shares, with a value of ~GH¢4.60 million. Out of the 25 counters that traded this Avg. Weekly Volume Traded (Shares) 878,352 861,281 1.98 week, Guinness Ghana Breweries emerged the most active counter, accounting Avg. Weekly Value Traded (GH¢) 1,268,601 1,246,575 1.77 for 56% of aggregate trade volumes. No. of Counters Traded 25 23 The market breath of the Ghana Stock Exchange was positive this week, with 7 No.
  • Has Gse Played Its Role in the Economic Development of Ghana?

    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.
  • Clydestone Group Annual Report

    Clydestone Group Annual Report

    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.
  • Quarterly Financial Markets Report

    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.