Market Watch

Today’s market session saw activity across 07 tickers.

Total trade volume and value was 48,249 and GHS 65,406.85 (~USD 11,374.00) respectively.

There was 1 gainer and 1 loser today. CAL Bank Plc. was the only gainer with a 1.33% rise to close at GHS 0.76 per share.

SCB was the only loser today with a 3.13% drop to close at GHS 15.50 per share.

The highest volume and value of shares traded today was 32,500 of CAL valued at GHS 24,615.00 (~USD 4,280.45).

Stock Tickers

Indices

The GSE-CI (decreased by 5.89) and the GSE-FSI (decreased by 10.87) closed at 1,866.90 and 1,728.38 respectively.

YTD of the GSE-CI and GSE-FSI are recorded at -17.29% and -14.42% respectively.

Global corporate insolvency increased exponentially – BoG

Elsie Addo Awadzi, Second Deputy Governor of the Bank of Ghana, has noted that corporate insolvencies around the world have increased exponentially due to the coronavirus pandemic. She explained that major businesses, and multinationals in some cases, have all been hardly hit. Speaking at a forum themed “MSME Manufacturing Capabilities, Responding to COVID-19 and Opportunities Beyond,” she said : “ Over the years, micro, small and medium-sized enterprises (MSMEs) have played and continue to play a critical role in Ghana’s socio-economic development by producing critical goods and services, creating jobs, and helping to reduce poverty and promote economic growth. It is estimated that MSMEs represent about 85 percent of Ghana’s private sector and contribute about 70 percent of annual GDP.

(https://www.ghanaweb.com/GhanaHomePage/business/Global-corporate-insolvency-increased-exponentially-BoG-992926)

COCOBOD, financial partners celebrate first US$200m disbursement of loan

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of US$200million from a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, followed online by hundreds of observers across the globe. In attendance were COCOBOD and government representatives and participating lenders – which included development finance institutions African Development Bank; Japan International Cooperation Agency (JICA); Development Bank of Southern Africa; and Cassa Depositi e Prestiti Spa. Commercial lenders were represented by Credit Suisse AG, and the Industrial and Commercial Bank of China, London Branch. The US$600million syndicated loan agreement was signed in November last year at the Africa Investment Forum in Johannesburg. JICA and the African Development Bank agreed to provide US$3.5billion in joint financing under the fourth phase of the Enhanced Private Sector Assistance for Africa Initiative.

(https://www.ghanaweb.com/GhanaHomePage/business/COCOBOD-financial-partners-celebrate-first-US-200m-disbursement-of-loan-992755)

Currency Update

The local unit closed at 5.2918/5.2970 against the US Dollar on the interbank market.

Average Open: 5.6577

Average Close: 5.6579

Day % Ch GHS/USD: -0.18%

1-Month %Ch GHS/USD: -0.88%

3-Month %Ch GHS/USD: -4.06%

YTD Cedi Depreciation Against USD: -2.37%

52 Week Range: 5.2515– 5.6679