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THE DAILY MARKET REPORT
October 23, 2014
Poor investor education affects capital market growth - SEC
Financial securities players happy with sector regulation
Cal bank custody services notice of relocation
Starwin turns to equity as loan cost surges
The Ghana Cedi stabilizes to the Dollar on the interbank
market
Poor investor education affects capital market growth - SEC
Investor interest in the capital market and investment instruments in general will grow if Ghanaians
are properly educated on the operations and benefits of that segment of the financial market to
their everyday life, the Director General (DG) of the Securities and Exchange Commission (SEC), Mr
Adu Anane Antwi, has observed. Investor education, he said, was a necessary ingredient to the
growth of the market hence the decision by SEC, which regulates capital market activities in the
country to actively educate the populace on the industry. “Investor education is not a mandatory
requirement of the SEC in Ghana,” Mr Antwi said, citing the mission statement of the commission.
“But we undertake it under the overall goal of investor protection. The SEC believes that investor
education is the right thing to do as it informed and educated investors as one of the key drivers to
the growth of the securities,” the DG said at the launch of this year’s Capital Markets Week in Accra.
THE DAILY MARKET REPORT
Daily Market Outlook
Treasury Securities Rates
Previous Yield
Current Yield %
%
Security
Change (%)
91 Day
25.71%
25.69%
0.10%
182 Day
26.42%
26.39%
0.10%
1yr Note
22.50%
22.50%
0.00%
2yr Fixed Note
23.00%
23.00%
0.00%
Currency
Buying
Selling
Midrate
Currency
USDGHS
3.1945
3.1969
3.1957
GBPGHS
5.1345
5.1390
5.13675
EURGHS
4.0461
4.0484
4.04725
GHSXOF
162.03
162.12
162.08
Gold Coast Fund Management Cedi Index
Previous Level
Current Level
Change
Year to Date
311.50
310.80
-0.71
43.30%
Commodities (Prices as at 9:00 GMT)
Current
Price
Previous
Price
Change
(%)
84.37
86.40
-2.35%
▼
Gold (USD/t oz)
1,241.29
1,246.92
-0.45%
▼
Cocoa (USD/MT)
3,113.00
3,110.00
0.10%
▲
Coffee (USD/lb)
191.10
199.60
-4.26%
Sugar (USD/lb)
16.45
16.57
-0.72%
Commodities
Oil Brent Crude
(USD/bbl)
Credits:
Bloomberg
Reuters
Graphic/GBN
Joy Business News
Gold Coast Fund Management Ltd Research
▼
▼
Financial securities players happy with sector regulation
Players in the financial securities market have commended the level of regulation and operational
frameworks put in by depository operators of the securities market in Ghana -- the Central
Securities Depository. The CSD is now a single depository after two depositories -- namely the
Central Securities Depository Ghana and the GSE Securities Depository Company -- merged in
January this year. The merger of the two has been accompanied by relevant legal framework to
safeguard operations of the market. William Sowah, Head, Investor Services, Transactional Products
and Services of Stanbic Bank Ghana Limited, in interview with the B&FT said Ghana’s securities
market has much of the requirements and regulatory framework serious investors look for in an
economy.
Cal bank custody services notice of relocation
CAL announces the relocation of CAL Bank Custody Services effective October 7, 2014 to its new
rd
office space on the 3 Floor in the CAL Bank Osu Branch Building on the Osu RE road lying about
opposite the Shell Filling Station. The move is in line with the bank’s strategy to offer the public
better services within a convenient environment as they develop their Head Office Building. CAL
Bank Custody Services can immediately be reached through the following telephone numbers: 0302
798334-37 and 026 3018235 whilst efforts are made to restore its previous contact numbers which
are 0302 661260 and 0302 661261 (Fax) in due course.They can be contacted for any further
enquires. Any inconvenience caused as a result of the relocation is deeply regretted.
Starwin turns to equity as loan cost surges
Starwin Products Limited (SPL), the pharmaceuticals maker, says the GH¢10million it is targetting to
raise from shareholders from now to November will be used to clear interest-bearing debts and
payables, cushion operating capital and invest in projects that will reposition it to tap opportunities
in the growing industry. The company this week began a renounceable rights issue, in which it has
offered a total of 333,359,264 new shares to shareholders at a unit price of GH¢0.03. Managing
Director of the company Mr. Kwasi Yirenkyi, speaking to journalists in Accra on the rationale for
seeking additional capital, said the decision forms part of an aggressive recapitalisation drive to
reverse the current situation wherein most of the company’s profits are used to service highinterest-bearing loans.
The Ghana Cedi stablises to the Dollar on the interbank market
The Cedi continued to stabilize to the US Dollar and also appreciated to the GB Pound, Euro and the
CFA on the interbank market today. The Ghana Cedi maintained its YTD decline to the Dollar at
47.84 percent. To the European currencies, the local currency registered a YTD depreciation of
43.84 percent and 35.53 percent to the Pound and Euro each as the Cedi gained 1.99 Pesewas and
2.15 Pesewas to each. The West African common currency also lost CFA 0.85 to the Cedi to peg a
YTD decline of 43.30 percent. The GCFM Cedi Index which measures the average performance of
the major trading currencies under review recorded an accumulated YTD depreciation of 43.30
percent. On the interbank market today, the Dollar continues to buy and sell at GHS 3.1945 and GHS
3.1969 respectively. The Pound trades at GHS 5.1345 and GHS 5.1390 and the Euro goes for GHS
4.0461 and GHS 4.0484. The CFA exchanges between CFA 162.03 and CFA 162.12.
Disclaimer: This is published solely for informational purposes. All expressions of opinion are subject to change without notice. The information is obtained from internal and
external sources which Gold Coast Fund Management (GC) considers reliable but GC has not independently verified such information and GC does not guarantee that it is accurate
or complete.