DOCSLIB.ORG

Donors, Dollars and Development

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Donors, Dollars and Development Roskilde University Donor, dollars, and development insights into the impacts of Danida's private sector development programme in Ghana Kragelund, Peter Publication date: 2005 Citation for published version (APA): Kragelund, P. (2005). Donor, dollars, and development: insights into the impacts of Danida's private sector development programme in Ghana. Roskilde Universitet. General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain. • You may freely distribute the URL identifying the publication in the public portal. Take down policy If you believe that this document breaches copyright please contact [email protected] providing details, and we will remove access to the work immediately and investigate your claim. Download date: 03. Oct. 2021 Donor, Dollars, and Development Insights into the Impacts of Danida’s Private Sector Development Programme in Ghana PhD dissertation by Peter Kragelund International Development Studies Roskilde University Acknowledgements The journey of writing a PhD thesis has sometimes seemed long and cumbersome, but it has mostly been filled with satisfaction and joy, not least during periods of fieldwork in Ghana, which were filled with daily encounters with remarkable people. However, things started in Denmark while I was employed at the Centre of African Studies, University of Copenhagen, when my attention was diverted away from Latin America to Sub-Saharan Africa. Several internationally well- established researchers passed by this small centre in the heart of Copenhagen, and affiliations with international networks gave me the possibility to attend several conferences. Life at the Centre was interesting, but I longed for a life involving more theoretical and empirical reflection and was therefore happy to acquire the privilege of beginning the process of writing a PhD thesis some four years ago. This thesis is the result of a generous grant from the Centre for Development Research (now Danish Institute for International Studies) and International Development Studies, Roskilde University Centre. Moreover, the Research Council for Development Research provided financial support for one period of fieldwork in Ghana. I express my gratitude to all of them. However, I would never have been able to finalise this study without support from several people. Therefore, I would like to begin by thanking everybody who helped me along the way. In Ghana, I would first like to express my sincere gratitude to all the people I interviewed in various Ghanaian small enterprises, public and private institutions and the donor community. Without them, this thesis would not have existed. Furthermore, I would in particular like to thank Elsebeth Tarp, Stella Damoah and Carsten Bondersholdt of the Royal Danish Embassy, Accra, for their hospitality; Happy Dide of the School of Administration, University of Ghana, Legon, for her kindness and readiness to help in all matters; fellow PhD researcher Bedman Narteh for good companionship and fruitful discussions; Dr Samuel Buame and Dr Seth Buatsi and other researchers at the School of Administration, University of Ghana, Legon, who took great interest in discussing the role of the private sector in Ghana with me; Charles Owusu, who gave me great insights into the real world of Ghanaian management; Mary Coffie of Denmark House, for keeping me company during long hours of writing up interviews; Jan Petersen, a crazy Swede, who introduced me to Accra’s nightlife; and Pernille Bengtsen and Mikkel Schmidt-Hansen for letting me stay in their home in Accra when other options were lacking. Many people made an effort to instruct me during the course of this project. Two people, of course, come first to my mind, namely my two supervisors, Steen Folke and Laurids Lauridsen, who have patiently pushed me when necessary, repeatedly pointed my too great interest in pre-colonial history out to me, and iii always provided me with new insights and timely criticism. I also thank Christian Lund and Fiona Wilson, the prime movers of the PhD seminars at the Graduate School of International Development Studies, who time and again have emphasised the importance of roadmaps and of not letting anyone (else) in the driving seat, as well as the difference between one’s own understanding of a subject and how this subject is communicated to the reader (even though I am not sure that I in fact did maintain this distinction throughout the thesis). In addition, I would like to thank fellow PhD researcher Ivan Nygaard for his always pleasant comments and advice for improvements to my draft chapters; Peter Gibbon for his constructive management of the research group on the ‘Political economy of globalisation’, which gave me great insights into the research process as such; and John Kuada and Olav Jull Sørensen, of Aalborg University, for including me in their research activities in Ghana. In the greater part of the process, however, I have been unaided, but definitely not lonely. Colleagues from the Danish Institute of International Studies and International Development Studies, Roskilde University, made sure that everyday life was pleasant in both institutions. Finally, I could not have done this without the support of my family, Jeanette, Sebastian and Selma, who were tolerant when I was away physically and mentally, while at the same time insisting that I diverted my attention away from my work from time to time and thus put the whole process into perspective. iv Abbreviations AFRC Armed Forces Revolutionary Council AGI Association of Ghana Industries AID Aid Impact: Development Interventions and Societal Processes APDF African Project Development Facility BS Business System BSPS Business Sector Programme Support BSSP Business Sector Support Programme B-t-B Business-to-Business CIBA Confederation of Indigenous Business Associations CIDA Canadian International Development Agency CPP Conventions Peoples Party DAC Development Assistance Committee Dda Dutch development agency Dfid Department for International Development DI Confederation of Danish Industries DIC Divesture Implementation Committee DIPO Danish Import Promotion Office DKK Danish Krone EIA Environmental Impact Assessment EIB European Investment Bank ERP Economic Recovery Programme ESAF Enhanced Structural Adjustment Facility FDI Foreign Direct Investment FSC Forest Stewardship Council GDP Gross Domestic Product GIHOC Ghana Industrial Holding Corporation GIPC Ghana Investment Promotion Centre GNCCI Ghana National Chamber of Commerce and Industry GPRS Ghana Poverty Reduction Strategy GTZ Deutsche Gesellschaft für Technische Zusammenarbeit GVC Global Value Chain HIPC Highly Indebted Poor Countries HVR Danish Federation of Small- and Medium-sized Enterprises IBE International Business Environment IC Investment capabilities v IFC International Finance Corporation IFU Investment Fund for Developing Countries IMF International Monetary Fund IPR Intellectual Property Rights ISO International Organization for Standardization KfU Danish Centre for Technology Transfer LC Linkage capabilities LDC Least Developed Countries LFA Logical Framework Approach MCP Mixed Credit Programme MDG Millennium Development Goals MOTI Ministry of Trade, Industry and Special Presidential Initiatives NDC National Democratic Congress NLC National Liberation Council NPP New Patriotic Party NRP National Redemption Party NUGS National Union of Ghanaian Students ODA Official Development Assistance OEM Original Equipment Manufacture PC Production capabilities PEF Private Enterprise Foundation PFP Partnership Facility Programme PNDC Provisional National Defence Council PNP Peoples National Party PP Progress Party PPP Public Private Partnerships PRGF Poverty Reduction and Growth Facility PRSP Poverty Reduction Strategy Paper PSD Private Sector Development PSDP Private Sector Development Programme PSI President’s Special Initiatives R&D Research and Development SIA Social Impact Assessment SMC Supreme Military Council SOE State-owned enterprise SSA Sub-Saharan Africa vi TAI Technology Achievement Index TFP Total Factor Productivity U.A.C. United Africa Company UNCDF United Nations Capital Development Fund UNDP United Nations Development Programme USAID US Agency for International Development vii Contents: 1. Development aid to the private sector in developing countries................. 8 1.1 Development aid to the private sector..................................................... 9 1.1.1 Financing development: the role of the private sector............................................ 10 1.1.2 The changing role of the private sector in development aid ................................... 12 1.1.3 Danish development aid to the private sector ......................................................... 16 1.2 Available information regarding the PSDP in Ghana ........................... 20 1.2.1 ‘Reasonably successful…but showing limited concern for broader development aspects’: evaluation-based knowledge regarding the PSDP ...................................................... 21 1.2.2 PSDP collaborations as an example of strategic
Load more

Recommended publications
  • 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.
    [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]
  • 2015 Annual Report
    Securiries and Exchange Commission 2015 ANNUAL REPORT 1 Securiries and Exchange 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 Securiries and Exchange Commission Contents Chairman’s Statement 4 Report of The Director-General 8 Corporate Governance Report 14 Profile of Commissioners 18 Operational Review 24 Broker- Dealers & Advisors Department 32 Funds Management Industry 35 Exchanges and Markets Department 37 Issuers Department 39 Policy, Research and Information Technology Department 45 Legal and Enforcement Department 49 Human Resources & Administration Department 51 Economic Review 53 Capital Market Review 59 Industry Analysis 71 Collective Investment Scheme Sector 75 Financial Statements 78 Commissioners’ Responsibility Statement 79 Independent Auditor’s Report 80 Statement of Operations 82 Statement of Financial Position 83 Statement of Cash Flow 84 Notes to the Financial Statements 85 Register of Licensees 2014/2015 96 Useful contacts 134 3 Securiries and Exchange Commission Chairman’s Statement Introduction as the Centre of capital raising and investment in the sub- region of West-Africa.
    [Show full text]
  • Daily Market Recap
    MARKET REPORTS Daily Stock Market Recap: April 28, 2021 Market Highlights Indicator Previous Current Chg (%) Open Closing GSE-CI 2,342.14 2,436.62 4.03% Company Price ¢ Price ¢ Gain/Loss • Gains in MTNGH (+8.33%) and TOTAL YTD (GSE-CI) 20.63% 25.50% Scancom PLC 0.96 1.04 8.33% (+1.56%) pushed the GSE Composite Index to a GSE-FI 1,864.04 1,864.04 0.00% Total Petroleum Ghana 3.20 3.25 1.56% new year high of 2,436.62 with a 25.50% year- YTD (GSE-FI) 4.56% 4.56% to-date return while market capitalization Mkt Cap (GH¢ M) 58,506.48 59,495.31 1.69% increased by 1.69% to close at GH¢59.50 billion. Volume 282,718 1,002,641 254.64% • The GSE Financial Index was flat for the third Value (GH¢) 421,149 1,438,514 241.57% straight session, closing at 1,864.04 with a 4.56% year-to-date return. Top Trades by Value GH¢ MTNGH 840,421 Activity Levels Increased TOTAL 282,019 • A total of 1,002,641 shares valued at GCB 222,741 GH¢1,438,514 changed hands compared to 282,718 shares valued at GH¢421,149 at the last session. Index YTD Performance (%) as at 28th April 2021 • MTNGH dominated trading activity, accounting for 58.42% of total value traded. 30 Outlook 25 • We expect the market to pick up as demand for bargain stocks increase. 20 Camelot Ghana (CMLT) The 22nd Annual General Meeting of the 15 shareholders of Camelot Ghana Ltd will be held virtually and streamed live on Tuesday, 25th May, 2021 at 10:00 a.m.
    [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]
  • WEEKLY MARKET REVIEW 25 June 2018
    DATABANK RESEARCH WEEKLY MARKET REVIEW 25 June 2018 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Weekly Market Update Databank Stock Index 36,989.82 37,829.75 -2.22% The equities market ended the week with reducing year to date GSE-CI Level 2,918.27 2,989.68 -2.39% returns of 13.12% for the GSE’s Composite Index and 12.49% for Market Cap (GH¢ m) 58,718.96 62,501.44 -6.05% the Databank Stock Index. YTD Return DSI 12.49% 15.04% YTD Return GSE-CI 13.12% 15.89% The gainers this week were ACCESS (+17.65% GH¢4.00), ETI Weekly Volume Traded (Shares) 7,111,051 3,728,037 90.75% (+5.00%, 21Gp) and GOIL (+1.27% GH¢4.00). Weekly Turnover (GH¢) 10,906,829 1,946,907 460.21% The laggards were CAL (-2.40% GH¢1.22), EGH (-11.76% Avg. Daily Volume Traded 878,468 854,409 2.82% (Shares) GH¢9.00), GCB (-0.39% GH¢5.15), SCB (-0.66% GH¢27.15), TLW Avg. Daily Value Traded (GH¢) 3,788,144 3,859,240 -1.84% (-15.00% GH¢14.56), SOGEGH (-17.58%, GH¢1.36) and Total (- No. of Counters Traded 20 20 1.23%, GH¢4.00). No. of Gainers 3 5 A total of ~7.11 million shares valued at ~GH¢10.9 million were No. of Laggards 7 11 traded on the Ghana Stock Exchange this week. Outlook KEY ECONOMIC INDICATORS Fixed Income Market Current Previous Change We anticipate lackluster activity on the Ghana Stock Exchange 91-Day Treasury Bill 13.34% 13.30% +4bps next week with a price gain in Unilever Ghana.
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 9th June, 2016 STOCK MARKET GSE TRIMS DOWN LOSSES Activities on the Ghana Stock Exchange (GSE) were more INDICATORS WEEK OPEN WEEK END CHANGE exciting than the previous week’s session, following the superior advantage gainers had over laggards in both Market Capitalization magnitude and numbers last week. Shares of Ecobank (GH¢'million) 54,221.06 54,261.10 0.07% Market Capitalization Ghana Limited (EGH), Cal Bank Limited (CAL), GCB Bank (US$'million) 14,119.52 14,024.22 -0.67% Limited (GCB) and Fan Milk Limited (FML) went up to trim- down the market losses by 0.42% last Thursday. Volume traded (shares) 1,420,412.00 315,034.00 -77.82% Value Traded (GH¢) 1,778,198.31 122,942.09 -93.09% The key benchmark index; GSE Composite Index (GSE CI) flipped up to 1,759.13 points from 1,751.79 points, Value Traded (US$) 463,054.39 31,775.37 -93.14% resulting in an improved year-to-date loss of 11.82%. Table 1: Market Summary Similarly, the GSE Financial Stocks Index (GSE-FSI) and the INDEX ANALYSIS SIC-FSL Top 15 Index (SIC-FSL T-15) also saw 0.52% and 0.30% rise in their respective levels, accounting for their INDICATORS Closing Week YTD improved losses of 14.24% and 18.18% respectively. Level Change CHANGE On the whole, total market capitalization rose slightly by GSE Composite Index 1,759.13 0.42% -11.82% 0.07%, settling at GH¢54.26 billion from the previous SIC-FSL Top 15 Index 3,035.77 0.37% -18.18% week’s figure of GH¢54.22 billion.
    [Show full text]
  • Rankings Rankings
    2011 Ghana Club 100 2011 Ghana Club 100 Rankings Rankings Ranking Company Name Weighted 2011 2011 Rank on 2008 2011 Turnover 3-yr. Cpd Rank on 2010 2011 2011 2011 2009 2010 2010 2010 2008 2009 2009 2009 3-yr Avg Rank Rank Turnover (GH¢) Turnover Turnover (GH¢) Growth Growth Owners’ Fund Owners’ Fund Net Profit ROE Owners’ Fund Owners’ Fund Net Profit ROE Owners’ Fund Owners’ Fund Net Profit ROE ROE on ROE (GH¢) Rate (GH¢) (GH¢) (GH¢) (GH¢) (GH¢) (GH¢) (GH¢) (GH¢) (GH¢) Produce Buying Company 1 4.45 1 1,301,776,645.00 2 245,478,455.00 1,301,776,645.00 73.42% 5 23,624,595.00 47,373,503.00 27,654,926.00 77.903% 11,316,143.00 23,624,595.00 14,112,542.00 80.780% 7,353,415.00 11,316,143.00 5,193,545.00 55.637% 0.714 6 Limited rLG Communication 2 12.3 2 52,902,119.00 34 983,433.00 52,902,119.00 272.51% 1 (2,775,216.00) 9,816,767.00 2,592,013.00 73.621% 1,450,420.00 (2,775,216.00) (1,876,798.00) 283.334% 1,305,172.00 1,450,420.00 (714,934.00) -51.890% 1.017 5 Company Limited Enterprise Life Assurance 3 16.3 3 64,658,401.00 31 16,953,510.00 64,658,401.00 55.54% 12 17,385,799.00 25,939,529.00 14,053,730.00 64.875% 10,296,224.00 17,385,799.00 9,589,575.00 69.284% 8,358,476.00 10,296,224.00 2,937,748.00 31.496% 0.552 8 Company Limited 4 Abosso Goldfields Limited 17.25 4 514,614,000.00 5 154,713,000.00 514,614,000.00 48.68% 18 199,099,000.00 338,415,000.00 55.756% 160,258,000.00 199,099,000.00 65,646,000.00 36.535% 102,862,000.00 160,258,000.00 10,924,000.00 8.303% 0.335 27 149,849,000.00 Ghana Home Loans 5 22.75 5 11,650,113.00 63 2,506,610.00 11,650,113.00
    [Show full text]
  • Report of the Directors to the Members of Camelot Ghana Limited for the Year Ended 31 December 2018
    CONTENTS Notice Of Annual General Meeting 01 02 Board of Directors 03 Chairmans Statement 06 Report of Directors 07 Independent Auditors Report 09 Consolidated Statement Of Comprehensive Income 12 Consolidated Statement Of Changes In Equity 13 Consolidated Statement Of Financial Position 15 Consolidated Statement Of Cash Flow 16 Extracts Notes To The Consolidated Financial Statements 17 Notes To The Co nso lidated Financial Statements 26 Five Year Financial Summary 41 Shareholding Structure 42 Proxy Form 43 2018 ANNUAL GENERAL MEETING BOOKLET NOTICE OF ANNUAL GENERAL MEETING FOR THE YEAR ENDED 31 DECEMBER 2018 NOTICE IS HEREBY GIVEN that the 20th Annual General Meeting of CAMELOT GHANA LIMITED will be held in the King of Kings Hall of Christ the King Parish (opposite Jubilee House), on Wednesday 29th May 2019 at 10 am prompt. AGENDA 1. To receive and adopt the Financial Statements of the Company for the period ended 31st December 2018 together with the reports of the Directors and Auditors thereon. 2. To re-elect Directors retiring by rotation. 3. To fix the remuneration of Directors. 4. To authorise the Directors to fix the remuneration of the Auditors. DATED THIS 27th DAY OF MARCH 2019 BY ORDER OF THE BOARD R.B. CONSULT SECRETARY NOTE: A member of the Company entitled to attend and vote is entitled to appoint a proxy to attend and vote instead of him/her. A proxy need not be a member of the Company. A form of proxy must be completed and deposited at the office of the Registrars, Universal Merchant Bank, Registrar’s Department, Adabraka Branch, next to Adabraka Police Station, P.O.
    [Show full text]
  • 2019 – Quarter 3
    ENSURING INVESTOR PROTECTION SEC OFFICIALNEWS NEWSLETTER OF SECURITIES & EXCHANGE COMMISSION 3RD QUARTER (JUL. - SEPT.) 2019 Growth and Emerging Markets Committee Revocation of Licenses of Fund Management Companies Highlights Of The Growth & Emerging Markets Committee And Public Conference 3rd Quarter Market Summary Analysis & Highlights Key Market Statistics Infractions, Penalties and Complaints Received in the Third Quarter of 2019. “Spend each day trying to be a little wiser than you were when you woke up ” - Charlie Munger SECURITIES & EXCHANGE COMMISSION SEC NEWS 2019 TABLE OF CONTENTS 02 NOTICE TO THE PUBLIC Public Advice Public Notice 31 INTERNATIONAL UPDATES The Growth and Emerging Markets Committee and Public Conference was held in St. Petersburg, Russia on 19th and 20th September 2019. 33 KNOWLEDGE BANK In this edition which is the concluding part of the series on Collective Investment Schemes, we take a recap of, what is a mutual fund and unit trust. 35 ENFORCEMENTS Infractions, Penalties and Complaints Received during the Second Quarter of 2019 37 FACTS & FIGURES - Assets under Management (3rd Quarter 2019) - Offers and Other Approvals - Capital Market Statistics and Analysis 40 MARKET SUMMARY ANALYSIS & HIGHLIGHTS At the end of third quarter (Q3) 2019, the Ghana Stock Exchange Composite index, the GSE-CI closed at 2,204.79 points from 2,394.82 points recorded at the end of second quarter 2019. This represents a -14.28% year-to-date (YTD) change compared to -6.90% YTD as at the end of second quarter (Q2) 2019 EDITORIAL TEAM 1. Dr Jacob Aidoo 5. Mrs Naomi Simpson 2. Mr Emmanuel Ashong-Katai 6.
    [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]
  • List of Companies in Ghana Club 100 - 2016 (Awarded in 2017)
    LIST OF COMPANIES IN GHANA CLUB 100 - 2016 (AWARDED IN 2017) 1. Newmont Golden Ridge Limited 2. Scancom Limited (MTN Ghana) 3. Ghana Oil Company Limited (GOIL) 4. Gold Fields Ghana Limited 5. Vivo Energy Ghana Limited 6. Unibank Ghana Limited 7. Multipro Private Limited 8. Nordea Capital Limited 9. Justmoh Construction Limited 10. Total Petroleum Ghana Limited 11. Newmont Ghana Gold Limited 12. Ecobank Ghana Limited 13. McOttley Capital Limited 14. Barclays Bank Ghana Limited 15. Fan Milk Ghana Limited 16. Glico Healthcare Limited 17. Asa Savings and Loans Limited 18. Fidelity Bank Ghana Limited 19. Toyota Ghana Company Limited 20. Ghana Community Network Services Limited 21. Enterprise Life Assurance Company Limited 22. Unilever Ghana Limited 23. DHL Ghana Limited 24. Enterprise Trustees Limited 25. Zenith Bank Ghana Limited 26. Certification, Inspection and Training Limited 27. Sefwiman Rural Bank Limited Downloaded from websiteghana.com 28. Fiaseman Rural Bank Limited 29. Stanbic Bank Ghana Limited 30. Amenfiman Ghana Limited 31. Dalex Finance Company Limited 32. Atwima Kwanwoma Rural Bank Limited 33. Guaranty Trust Bank Ghana Limited 34. Melcom Ghana Limited 35. Otuasekan Rural Bank Limited 36. McDan Shipping Company Limited 37. South Akim Rural Bank Limited 38. DCI Microfinance Limited 39. SIC Life Company Limited 40. Ghana Home Loans 41. First Atlantic Bank Limited 42. Enterprise Life Insurance Company Limited 43. Tropical Cable and Conductor Limited 44. uniCredit Ghana Limited 45. Societe Generale Ghana Limited 46. Bond Savings and Loans Limited 47. Star Assurance Company Limited 48. B 5 Plus Limited 49. Ahantaman Rural Bank Limited 50. Akim Bosome Rural Bank Limited 51.
    [Show full text]