Finance Students & Associates-FINSA (UGBS)♨
                🇬🇭20th March, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡Ghana to reduce rice import by 50% in 2019—Ministry of Agriculture

The Ministry of Agriculture says plans are in place to reduce the importation of rice by at least 50 percent this year. This is to enhance the growth and consumption of local rice in Ghana. Currently, Ghana imports 331 million dollars of rice annually, development stakeholders have described as worrying. Speaking to Citi Business News Deputy Minister of Agriculture, George Oduro said measures such as the ‘planting for food and jobs’ as well as the newly introduced Irrigation land facility system should help reduce the importation of rice by half.

📡Suzuki, Toyota and CFAO announce joint venture to produce cars in Ghana

Officials from Suzuki Motor Corporation, Toyota Tsusho Corporation and CFAO have announced a joint venture to manufacture and distribute vehicles in Ghana. At a courtesy call on President Akufo-Addo, on Tuesday, March 19, 2019, at Jubilee House, Mr. Koyote Suzuki, General Manager for the Middle East and Africa of Suzuki Motor Corporation, told the President that with the company producing some 1.8 million vehicles in India alone, his mission is to find next India in the continent of Africa”. Suzuki, he said, has partnered with Toyota in Africa, and are currently working in some 26 countries.

📡Cedi struggles: We need to focus on structural problems – Nana Addo

President Nana Akufo-Addo has called for broadening of the discussions on the struggling cedi which he previously said has left him “extremely upset and anxious”. Speaking at a meeting with the leadership of the Ghana Bar Association, President Akufo-Addo said the focus should be turned to the structural problems of the economy. Our public discourse should also begin to focus on much more of the structural problems involved in our currency, he urged.

📡Energy Commission to sanction homeowners with improper wiring

The Energy Commission has warned it will sanction owners of buildings that are over 10 years that have not been inspected and rewired. The Commission has served notice it has begun the enforcement of the Electrical Wiring Regulations 2008 which was passed in 2012. The law requires that all buildings both commercial and private residents undergo inspection and rewiring every 10 years to protect occupants and prevent fire disasters. As part of enforcement of the Law, the Energy Commission says it has assigned inspectors across the country to check the status of commercial buildings especially hotels.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1929%                  14.7150%
182 - Da.          14.0833%                  15.1501%
364 - Day                                             18.1898%

Foreign News💤
⚖Shares in Inmarsat jump on fresh bid approach

Shares in Inmarsat Plc jumped 17 percent on Wednesday after the British satellite operator said it was in talks about a $3.3 billion cash offer from a private equity-led consortium, opening up the possibility of a bidding war. The consortium, which initially included UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board (CPPIB), was later also joined by Ontario Teachers' Pension Plan Board. As it stands the proposal remains under discussion.

⚖UK Prime Minister Theresa May requests three-month delay to Brexit

U.K. Prime Minister Theresa May formally requested a short delay to Brexit on Wednesday, 1,000 days after the U.K. narrowly voted to leave the European Union. The request, in a letter to EU leaders, seeks to put Britain's departure on hold until June 30. Sterling slipped nearly 1 percent to trade at $1.3156 at around 1 p.m. London time. Under current law, the U.K. is set to leave the EU — with or without a deal — at 11 p.m. London time on March 29. Any delay would need to be accepted by all 27 other member states.

⚖Saudi Arabia is giving its capital a $23 billion makeover

Saudi Arabia will be pumping $23 billion into a massive beautification project for its capital Riyadh, its government has announced. The plan, which will incorporate green space, recreational areas and more than 1,000 art installations, seeks to improve quality of life for the capital's 5 million residents and prepare the country for the opening up of its tourism sector. The project will also open up private investment opportunities to the tune of $15 billion, the government said Tuesday. The project will include 84 miles of cycling track and a park that's quadruple the size of Central Park. Work will begin in the second-half of this year and will be completed between 2023 and 2030. The development is set to create 70,000 jobs, according to state news agency SPA.

|Daily Interbank FX Rates|
Currency         Pairs Code    Buying  Selling
U.S Dollar            USDGHS 5.2373     5.2426
Pound Sterling        GBPGHS 6.9436     6.9527
Swiss Franc            CHFGHS    5.2385     5.2422
Canadian Dollar     CADGHS 3.9486     3.9513
Euro                     EURGHS 5.9449     5.9476
Chinese Reminbi     CNYGHS 0.7804     0.7811

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com 
www.wikipedia.com
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Term of the day📚
🤔 Capital
Capital is a term for financial assets, such as funds held in deposit accounts, as well as for tangible factors of production, i.e. manufacturing equipment. Additionally, capital includes facilities, including buildings used to produce and store manufactured goods. Materials used and consumed as part of the manufacturing process do not qualify as capital.

🤔 What are the types of capital?

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📍Compiled & edited by:     
Agnes Boatemaa Appiadu
Philip Elike Gagah