May 24, 2024

The Eye Of Africa

Ghana’s cocoa syndicated loan to reduce by a staggering $400 million dollars

3 min read

Ecobank Ghana has announced Joana Mensah as the acting Managing Director. She replaces Dan Sackey, who was at the helm from 2016 to August 15, 2023, when he officially retired from the bank. Ms Mensah is expected to remain in this role until a substantive person is named later. Ecobank Ghana is yet to announce the timeline for this process, and the identities of any contenders for the position of substantive MD. Until this appointment, Joana was the Country Chief Risk Officer of Ecobank Ghana, responsible for managing the enterprise-wide risk functions across the Bank since May 2019.

🚩Governor of the Bank of Ghana, Dr Ernest Addison has hinted that the size for this year’s Cocoa Syndicated Loan will reduce to about $800 million, which is a decline to the earlier figure of $1.2 billion. He explained that this forms part of debt sustainability measures contained in the IMF programme to restore macroeconomic conditions across the cocoa value chain. Speaking at a joint IMF-Finance Ministry press briefing in Accra on October 6, 2023, Dr Addison confirmed that the cocoa regulator [COCOBOD] will still receive the syndicated loan facility for this year.

INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 11.2531 Sell 11.2643
GB£GH¢ Buy 13.8266 Sell 13.8427
CHFGH¢ Buy 12.4508 Sell 12.4631
AUD$GH¢ Buy 7.2355 Sell 7.2453
CAD$GH¢ Buy 8.2839 Sell 8.2925
JP¥GH¢ Buy 0.0757 Sell 0.0758
NZDGH¢ Buy 6.7986 Sell 6.8079
ZARGH¢ Buy 0.5917 Sell 0.5923
EU€GH¢ Buy 11.9494 Sell 11.9623
CHN¥GH¢ Buy 1.5436 Sell 1.5437
GH¢CFA Buy 54.8354 Sell 54.8946
GH¢NG₦ Buy 67.6570 Sell 68.0825

CRYPTOCURRENCY MARKET
Bitcoin $27,107.43 🔻1.79%
Ethereum $1,557.46 🔻1.82%
Binance Coin $206.14 🔻0.84%
Ripple $0.4888 🔻1.85%
Solana $22.15 🔻0.14%
Cardano $0.2472 🔻2.06%
Dogecoin $0.05903 🔻0.01%

💵Bloomberg USDGHS Cross Rate – *11.7650* (YTD -🔺️13.30%)

💰STANBIC BANKFOREX RATES💵
US$GH¢ Buy 11.3500 Sell 11.7500
GB£GH¢ Buy 13.7664 Sell 14.3620
EU€GH¢ Buy 11.9039 Sell 12.4104
CH¥GH¢ Buy 1.5514 Sell 1.6195

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
ACCESS ➡️Gh¢3.40 🔼+9.68%

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
No losers for today

〽Inflation rate in Ghana ➡️40.10%

🏦Ghana Reference Rate ➡️ 31.09%

✳Policy Rate in Ghana ➡️ 30.00%

¶ TREASURY RATES💸
91 – Day Discount Rate 27.2088% Interest Rate 29.1947%
182 – Day Discount Rate 27.0010% Interest Rate 31.2152%
364 – Day Discount Rate 24.8206% Interest Rate 33.0152%

🛢Petroleum Products – Average Price
🏗Petrol – Gh¢13.49/ltr (YTD 🔺️+8.79%)
🛢Diesel – Gh¢13.95/ltr (YTD 🔼-4.45%)
⛽LPG – Gh¢12.45/kg (YTD-🔺️+35.33%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 33,739.30+134.65
+0.40%
*S&P 500 🏦 4,358.24+22.58
+0.52%
*Nasdaq Index📲💻 13,562.84+78.60
+0.58%
* NYSE Composite Index 15,450.23+132.15
+0.86%
*London FTSE 7,628.21+136.00
+1.82%
*Germany DAX 15,423.52+295.41
+1.95%
*Japan NIKKEI 225 31,746.53+751.86
+2.43%
*Tokyo TOPIX Index 2,312.19+48.11
+2.12%
*Hong Kong HANG SENG 17,664.73+147.33 +0.84%
*Shanghai Shenzhen 300 3,657.13-27.60
-0.75%
*S&P/ASX 200 Index 7,040.64+70.48
+1.01%
*Bloomsberg EU 500 291.24+5.72
+2.00%
*France CAC All-Tradable 5,320.02+103.76
+1.99%
*Dubai DFM General Index 4,051.12-4.92
-0.12%
*MOEX Russia Index 3,177.03+3.01
+0.09%
*FTSE/JSE South Africa 68,119.06+2,151.71
+3.26%
*Nairobi SE 20 Share 1,496.14+5.16
+0.12%
*Nigeria SE Main 66,984.63-116.70
-0.17%
*BBG EMEA World Index 199.02+4.30
+2.22%
*GSE Composite Index 3,141.66 +4.80 +0.15%
*GSE Financial Index 1,947.07 +9.06 +0.47%

GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,141.66 🔼+28.55%
*GSE Financial Index 1,947.07 🔻-5.14%

🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡️Gh¢18.63 🔼+143.53%
TOTAL ➡️Gh¢9.00 🔼+125.00%
UNIL ➡️Gh¢8.10 🔼+108.76%
GGBL ➡️Gh¢3.40 🔼+65.85%
MTNGH ➡️Gh¢1.40 🔼+59.09%

🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
CAL ➡️Gh¢0.50 🔻-23.08%
EGL ➡️Gh¢2.41 🔻-24.69%
ACCESS ➡️Gh¢3.40 🔻-15.21%
SIC ➡️Gh¢0.24 🔻-22.58%
EGH ➡️Gh¢5.30 🔻-20.18%

COMMODITIES MARKET
*Brent Crude USD/barrel⛽ 87.90 +0.25 +0.29%
*Natural Gas 🏭 USD/millon BTUS 3.43 +0.05 +1.36%
*Gold 👑 USD/troy ounce 1,872.30 -3.00 -0.16%
*Silver 💍 USD/troy ounce 21.97 +0.02 +0.08%
*Corn 🌽 USd/bushel 486.00 +0.50 +0.10%
*Cocoa 🍫 USD/metric ton 3,474.00 +39.00 +1.14%
*Coffee ☕ USd/pound 146.35 -2.40 -1.61%
*Sugar🎂 USd/pound 25.93 +0.26 +1.01%
Rubber USd/100kg 140.90 -0.20 -0.14%

Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Ghana News Agency.

Leave a Reply