Finance Students & Associates-FINSA (UGBS)♨
                🇬🇭25th March, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡Private sector credit growth expected to rebound – BoG Survey

Private sector credit growth is expected to rebound from the first quarter of 2019, following a tightening stance by commercial banks on loans to enterprises during the last two months of 2018, according to Bank of Ghana’s financial sector report for January 2019. The survey projects an easing of banks’ credit stance over the first quarter of 2019, in line with their enhanced capital levels following the completion of the recapitalization exercise to a minimum of GH¢400 million at the turn of the year.

📡SEC assures investors of vibrant asset management industry

The Securities and Exchange Commission (SEC) has assured the investing public that it has put measures in place to ensure a vibrant asset management industry. This follows the circulation of rumours among the public predicting the collapse of some licensed asset management firms, which have created uncertainty and fear amongst investors, causing some panic withdrawals from managed fund schemes.

📡Banks are ready to take advantage of Payment Systems and Services Bill

The Absa Group Limited, formally Barclays Africa Group Limited is confident the passage of the Payment Systems and Services Bill into Law will urge banks to grow in the country. The Payment Systems and Services Bill which was passed into law is expected to promote innovation in the design of new secure electronic money products and payment services, and also engender competition in the electronic money business. In an interview with Citi Business News on the impact of the passage of the Bill into Law on Barclays Ghana’s operations, Absa Regional Operations Chief Executive, Peter Matlare said they are confident of taking advantage of the law.

📡Using short term measures to support cedi not sustainable—Banking Consultant

The local currency, the Ghana Cedi experienced its strongest performance against the US Dollar in the past three months after gaining 8 pesewas to end Friday March 22, 2019, selling at GHC 5.16 on the interbank foreign exchange market. Historically, the Ghanaian Cedi reached an all-time high of 5.60 against the dollar at some forex bureaus in March 2019 and a record low of 0.90 in July of 2007. Government and some analysts have expressed optimism the cedi will appreciate further. While admitting that the current steps being taken by government are positive, Banking Consultant Dr. Richmond Attuahene however stated that the strengthening of the Cedi can only be sustained when long term measures are used to develop the structural needs of the economy.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1953%                  14.7176%
182 - Day         14.0914%                  15.1595%

Foreign News💤
⚖Brazil overtakes China in consumer sentiment, according to Credit Suisse survey

Brazil has just overtaken China in terms of consumer sentiment, as the world's second-largest economy slows down and spending intention on big ticket items decline, according to a Credit Suisse  survey released Monday. Speaking to CNBC at the Credit Suisse Asian Investment Conference in Hong Kong on Monday, Eugene Klerk, the bank's managing director of global thematic research said China showed weaker readings in spending intentions compared to Brazil and India. The Credit Suisse Emerging Consumer survey, released at the conference, found that China now sits at third place in terms of overall consumer sentiment, with India and Brazil at first and second place respectively.

⚖Tencent's Biggest Investor Naspers to Spin Off Web Holdings

Naspers Ltd., the biggest investor of Chinese tech giant Tencent Holdings Ltd., is spinning off its main internet businesses in Amsterdam in a push to boost its value. The South African company will list a business that includes its 31 percent stake in Tencent, worth about $133 billion, as well as holdings in Russian internet platform Mail.Ru, German food delivery business Delivery Hero and Indian e-commerce startup Swiggy on Euronext Amsterdam.

⚖South Africa's Mboweni Questions Need to Hold Onto All State Assets

South African Finance Minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances. Mboweni, a former central bank governor who took office in October, has repeatedly questioned the logic of holding onto loss-making state companies, raising the ire of the labor union allies of the ruling African National Congress that oppose privatization. Mboweni said that the country should look toward merging its state-owned airlines to remove the need for duplicate boards and chief executives officers and could sell the explosives unit of state arms company Denel SOC Ltd. to AECI Ltd., a privately owned explosives company.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS      5.0778    5.0829
Pound Sterling   GBPGHS       6.7113    6.7201
Swiss Franc         CHFGHS       5.1095    5.1142
Canadian Dollar CADGHS      3.7874    3.7913
Euro                      EURGHS       5.7327    5.7373
Chinese Reminbi CNYGHS      0.7557    0.7564

🌀|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📚
🤔Consumer Sentiment
Consumer sentiment is a statistical measurement and economic indicator of the overall health of the economy as determined by consumer opinion. Consumer sentiment takes into account an individual's feelings toward his or her current financial health, the health of the economy in the short term and the prospects for longer-term economic growth.

🤔 Why is consumer sentiment important?
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📍Compiled & edited by:     
Agnes Boatemaa Appiadu
Philip Elike Gagah