SEC warns investors against Wiseling Online Investment Company

The Securities and Exchange Commission (SEC) has warned the investing public to desist from dealing with Wiseling Online Investment Company, which has not been licensed to undertake capital market activity.  According to SEC, “The General Public is hereby put on notice that WISELING ONLINE INVESTMENT COMPANY, a Finnish-based company operating in Ghana has not been licensed by the Securities and Exchange Commission (SEC) to carry out any Capital Market activity...

Read more

MTN Ghana investors make capital gains

The GSE Composite Index advanced by 11.14 points (+0.51%) on the back of MTN Ghana (+1.27%) to close the week at 2,177.43 with a year-to-date return of 12.15%. The market capitalization increased by +0.2% to settle at GH¢56.91 billion. However, Cal Bank (-1.23%) moderated the GSE Financial Index by -3.72 points (-0.06%) to close at 1,873.31 with a year-to-date return of 5.08%. The SAS Manufacturing Index remained unchanged at 1,619.23...

Read more

DIGICUT unveils its turnaround strategy

DIGICUT has taken a number of positive steps to turnaround its operations including the appointment of new team leader, take steps to access locked up IPO proceeds by end of Q1-2021 and reorganisation of its Board of Directors. Leadership A new management team, led by Manish Padhiar (profile below), was brought in January 2021 to replace William Kofi Iden. The team is working on a plan to revamp and restart...

Read more

DIGICUT yet to access 50% of IPO proceeds after nearly 3 years

DIGICUT has announced that the collapse of GN Savings and Loans has locked up nearly 50% of the proceeds from its IPO. The funds were placed with the GN Savings and Loans, which faced challenges that resulted in the revocation of its licence by the central bank. Please the narration by the company below. Digicut Production and Advertising PLC (Digicut) is a full-service advertising agency and public relations consultancy. It...

Read more

Market rallies as 4 stocks make money for investors

Successive weekly appreciations continued as the benchmark index advanced by 111.27 points (+5.41%) on the back of four counters to close the week at 2,166.29 with a year-to-date return of 11.57%. The market capitalization increased by +2.57% to settle at GH¢56.79 billion. Cal Bank (+5.19%), GCB Bank (+2.27%) and Societe Generale (+1.39%) pushed the GSE Financial Index upward by 10.18 points (+0.55%) to close at 1,874.40 with a 5.14% year-to-date... Read more

ETI - Ecobank Nigeria’s USD300mn bond oversubscribed

Ecobank Nigeria, a wholly owned subsidiary of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, announced that it has successfully priced its USD 300 million bond issuance maturing in February 2026, with settlement of the bond to take place on 16 February 2021. The fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London...

Read more

Hervé Assah joins the Board of Ecobank Transnational Inc.

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, announces the co-option to its Board of Directors of Hervé S. Assah, as Independent Non-Executive Director from the CEMAC Region. Hervé S. Assah is a national of Congo Brazzaville with almost four decades’ experience as a senior executive in various fields, including investment and financial advisory, global trade development, public private partnerships in emerging markets, regional development and business strategy...

Read more

Bullish Sentiments Continue while Trades Advance

Last week’s bullish performance continued as the benchmark index advanced by 27.89 points (+1.38%) on the back of four counters to close this week at 2,055.02 with a 5.84% year-to-date return while the market capitalization increased by +0.52% to settle at GH¢55.62 billion. Cal Bank (+2.67%) and Enterprise Group (+1.43%) pushed the GSE Financial Index upward by 2.77 points (+0.15%) to close at 1,864.22 with a 4.57% year-to-date return. The...

Read more

Ecobank Nigeria to issue USD300 million Eurobond

The most significant subsidiary of Ecobank Transnational Incorporated (ETI), Ecobank Nigeria, is set to issue a USD300 million Eurobond that would be listed and traded on the London Stock Exchange.  The proceeds from the transaction would be used to support the bank’s clients engaged in international trade in Africa. Please see the release below. Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading Pan-African banking group... Read more

Chy Mall is a ponzi scheme operating illegally - EOCO

The Economic and Organised Crime Office (EOCO) has described the activities of Chy Mall as a ponzi and pyramid scheme following investigations, and has warned the public to desist from dealing with the company. The company is also operating illegally given that it neither has a license from the Bank of Ghana nor the Securities and Exchange Commission of Ghana. Please see the release below. The Economic and Organised Crime...

Read more