BUSINESS NEWS IN GHANA AND BEYOND

Ghana’s banking landscape witnessed notable shifts in 2022, marked by substantial increases in registered internet and mobile banking customers. According to the Bank of Ghana’s Payment Systems Oversight Annual Report 2022, internet banking customers surged by 16.40%, reaching 1,129,387 from 970,435 in 2021. Concurrently, mobile banking customers exhibited a robust growth of 15.38%, increasing from 5.85 million to 6.75 million during the same period. This surge in customer registrations was not merely quantitative; it also translated into a pronounced surge in transaction values. The report reveals that the value of internet banking transactions skyrocketed by an impressive 43.03%, reaching GH¢80.43 billion in 2022, a stark contrast to the GH¢56.23 billion recorded in the previous year. Similarly, mobile banking transactions witnessed a substantial uptick, with a growth rate of 47.34%, culminating in a transaction value of GH¢38.47 billion in 2022, up from GH¢26.11 billion in 2021.

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🚩The Forestry Commission, under the auspices of the Ministry of Lands and Natural Resources, has signed Emission Reductions Payment Agreement (ERPA) with Emergent Forest Finance Accelerator Incorporated (Emergent), a US-based non-profit organisation that serves as the convenor and coordinator of the Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition. The agreement will see Ghana receiving payment of up to US$50 million for emission reductions of up to five million tonnes of carbon dioxide equivalent, at a unit price of Ten Dollars (US$10.00) per tonne of carbon dioxide equivalent. The Agreement, which was signed on Friday, 1st December, 2023, on the sidelines of the twenty-eighth session of the Conference of Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC), made Ghana the first country, globally, to sign ERPA under the LEAF Coalition for the supply of high-integrity jurisdictional REDD+ emission reductions and removals credit.

INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 11.6188 Sell 11.6304
GB£GH¢ Buy 14.6652 Sell 14.6811
CHFGH¢ Buy 13.3066 Sell 13.3186
AUD$GH¢ Buy 7.6919 Sell 7.7017
CAD$GH¢ Buy 8.5807 Sell 8.5889
JP¥GH¢ Buy 0.0790 Sell 0.0791
NZDGH¢ Buy 7.1669 Sell 7.1761
ZARGH¢ Buy 0.6171 Sell 0.6175
EU€GH¢ Buy 12.5709 Sell 12.5823
CHN¥GH¢ Buy 1.6286 Sell 1.6293
GH¢CFA Buy 52.1333 Sell 52.1806
GH¢NG₦ Buy 74.7897 Sell 74.8413

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CRYPTOCURRENCY MARKET
Bitcoin $41,899.29 🔼1.24%
Ethereum $2,233.47 🔼0.48%
Binance Coin $232.45 🔼1.53%
Ripple $0.6207 🔼1.80%
Solana $60.42 🔼6.81%
Cardano $0.4049 🔼0.49%
Dogecoin $0.08992 🔼0.25%

💵Bloomberg USDGHS Cross Rate – *12.0000* (YTD -🔺️15.00%)

💰STANBIC BANKFOREX RATES💵
US$GH¢ Buy 11.8000 Sell 12.1000
GB£GH¢ Buy 14.9530 Sell 15.3392
EU€GH¢ Buy 12.8231 Sell 13.1612
CH¥GH¢ Buy 1.6488 Sell 1.7051

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
No gainers for today

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
EGH ➡️Gh¢6.30 🔻-10.00%

〽Inflation rate in Ghana ➡️35.20%

🏦Ghana Reference Rate ➡️ 32.00%

✳Policy Rate in Ghana ➡️ 30.00%

¶ TREASURY RATES💸
91 – Day Discount Rate 27.5331% Interest Rate 29.5684%
182 – Day Discount Rate 27.4105% Interest Rate 31.7638%
364 – Day Discount Rate 25.0625% Interest Rate 33.4445%

🛢Petroleum Products – Average Price
🏗Petrol – Gh¢12.80/ltr (YTD 🔺️+3.23%)
🛢Diesel – Gh¢13.30/ltr (YTD 🔼-8.90%)
⛽LPG – Gh¢12.90/kg (YTD-🔺️+40.22%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 36,204.44 -41.06 -0.11%
*S&P 500 🏦 4,569.78 -24.85 -0.54%
*Nasdaq Index📲💻 14,185.50 -119.53 -0.84%
* NYSE Composite Index 16,232.81 -30.94 -0.19%
*London FTSE 7,512.96 -16.39 -0.22%
*Germany DAX 16,646.05 -184.25 -1.09%
*Japan NIKKEI 225 33,231.27 -200.24 -0.60%
*Tokyo TOPIX Index 2,362.65 -19.87 -0.83%
*Hong Kong HANG SENG 16,646.05 -184.25 -1.09%
*Shanghai Shenzhen 300 3,460.14 -22.74 -0.65%
*S&P/ASX 200 Index 7,124.65 +51.48 +0.73%
*Bloomsberg EU 500 299.40 -0.18 -0.06%
*France CAC All-Tradable 5,435.91 -20.66 -0.38%
*Dubai DFM General Index 3,987.75 -4.61 -0.12%
*MOEX Russia Index 3,114.41 -27.88 -0.89%
*FTSE/JSE South Africa 69,908.25 +107.67 +0.15%
*Nairobi SE 20 Share 1,498.58 +4.13 +0.28%
*Nigeria SE Main 70,946.81 -473.06 -0.66%
*BBG EMEA World Index 206.49 -1.03 -0.50%
*GSE Composite Index 3,149.46 -20.77 -0.66%
*GSE Financial Index 1,957.77 -39.18 -1.96%

GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,149.46 🔼+28.87%
*GSE Financial Index 1,957.77 🔻-4.62%

🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡️Gh¢19.93 🔼+160.52%
TOTAL➡️Gh¢ 9.00 🔼+125.00%
UNIL Gh¢8.11 🔼+109.02%
GGBL ➡️Gh¢3.40 🔼+65.85%
MTNGH ➡️Gh¢1.40 🔼+59.09%

🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
EGL ➡️Gh¢2.41 🔻-24.69%
SIC ➡️Gh¢0.24 🔻-22.58%
CAL ➡️Gh¢0.51 🔻-21.54%
GOIL ➡️Gh¢1.45 🔻-15.70%
ACCESS ➡️Gh¢3.40 🔻-15.21%

COMMODITIES MARKET
*Brent Crude USD/barrel⛽78.88 -1.98 -2.45%
*Natural Gas 🏭 USD/millon BTUS 2.81 +0.01 +0.43%
*Gold 👑 USD/troy ounce 2,089.70 +32.50 +1.58%
*Silver 💍 USD/troy ounce 25.86 +0.20 +0.77%
*Corn 🌽 USd/bushel 484.75 +2.00 +0.41%
*Cocoa 🍫 USD/metric ton 4,201.00 -76.00 -1.78%
*Coffee ☕ USd/pound 184.35 -0.35 -0.19%
*Sugar🎂 USd/pound 25.09 -0.95 -3.65%
Rubber USd/100kg 144.80 -2.60 -1.76%

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