Bank of Ghana maintains policy rate at 13.5%

Bank of Ghana has maintained the benchmark monetary policy rate at 13.5% on the back of upside risks to inflation from the introduction of new taxes, higher pump fuel prices and potential upward adjustments in utility tariffs. These factors have contributed to slowdown consumer and business confidence during the first half of the year, and the authorities are expected to introduce initiatives that can lift consumer and business confidence during... Read more

GSE educates pension fund managers on maximizing stock market returns

The Ghana Stock Exchange (the Exchange or the GSE), in collaboration with the National Pensions Regulatory Authority (NPRA) and the Securities and Exchange Commission (SEC), has held a workshop for players in the pensions industry to discuss investment opportunities on the Exchange’s markets. The workshop shared the current impressive performance of the Exchange and the opportunities, especially in the Exchange’s equities markets, that abound for knowledgeable and patient investors like...

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Inflation goes up ahead of MPC meeting next week

Inflation has rose by 30bps to 7.8% in June 2021 from 7.5% in the previous month as the influence of a favorable base effect dwindles.  This was largely driven by food inflation, which went up for the first time in six months to 7.3% in June 2021 from 5.4% in the previous month. In addition, recent increments in pump fuel prices and subsequent upward adjustments in transportation fares resulted in... Read more

Enterprise Group agrees deal to acquire Acacia Health Insurance

Enterprise Group PLC has entered into an agreement to fully acquire Acacia Health Insurance Limited. The transaction is subject to regulatory approval. Acacia has been in existence since 2013 and is a major private health insurance service provider. Speaking about the transaction, Keli Gadzekpo, CEO of Enterprise Group, said ’we are very excited about this transaction which has been a significant part of our strategy for some time. With the... Read more

ETI successfully raises $350mn tier 2 sustainable notes

Ecobank Transnational Incorporated (ETI), the Lomé based parent company of the Ecobank Group, is pleased to announce that it has successfully raised US$350 million Tier 2 Sustainability Notes. This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa. This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on... Read more

ETI to Raise $300mn via Issuance of Tier 2 Notes

Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading Pan-African banking group with banking operations in 33 countries hereby notifies the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (the “Stock Exchanges”) that it is seeking to raise US$300 Million from the international debt capital markets through the issuance of Tier 2 qualifying Sustainability Notes pursuant to the United States... Read more

Ghana Stock Exchange signs MOU with Stanford Seed

The Ghana Stock Exchange has signed a Memorandum of Understanding (MOU) with the Stanford Seed Transformation Network Ghana (STN). This in line with its strategy to groom and prepare the next pool of companies to list on the Exchange.   STN Ghana is a network of graduates of the Stanford Seed Transformation Program, an initiative of the Stanford Graduate School of Business, which seeks to introduce value enhancing activities for...

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BoG cuts benchmark policy rate for the 1st time in 14-months

The Bank of Ghana has cut its benchmark monetary policy rate for the first time in more than 1-year by 100bps to 13.5%. The decision was driven by the recent slowdown in inflation to a 13-month low of 8.5% in April 2021 on the back of “lower food prices and base drift effects, a tight monetary policy stance and stable exchange rate conditions”. It was further reinforced by the...

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Stock market ends week on a positive note

The benchmark index advanced by 4.75 points (+0.20%) due to upward price movements in several stocks to close the week at 2,421.11 with a year-to-date return of 24.70% while the market capitalization inched up by 0.08% to close at GH¢59.33 billion. The GSE Financial Index increased by 4.31 points (+0.23%) to close at 1,902.90 with a year-to-date return of 6.74% while the SAS Manufacturing Index moved up 10.68 points (+0.74%)... Read more

Stock market index drops on profit-taking in MTN and CAL

The GSE Composite Index tumbled by 158.98 points (-6.17%) due to two stocks to close the week at 2,416.36 with a year-to-date return of 24.45% while the market capitalization decreased by 2.81% to close at GH¢59.28 billion. The GSE Financial Index advanced by 9.32 points (+0.49%) due to gains in GCB Bank (+5.05%) to close at 1,898.59 with a year-to-date return of 6.50% despite downward price movement in CAL Bank... Read more