Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭28th March, 2019
                ⏰6:00pm


BUSINESS SPACE📈
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📡 Standardization issues affecting Continental Free Trade Area - Carlos Ahenkorah

Deputy Trade and Industry Minister, Carlos Ahenkorah has cautioned that the implementation of the African Continental Free Trade Area (ACFTA) could be derailed if the issue of standardization of goods and services are not addressed in all countries. He has called on stakeholders in the ECOWAS region as well as the rest of the continent to adhere to the outlined standards for goods and services to facilitate a speedy implementation of the African Continental Free Trade Area. He however acknowledged that some progress was being made on the standardization front.

📡 Parliament slashes GNPC 2019 budget by $80m

Parliament had slashed the Ghana National Petroleum Corporation' (GNPC's) 2019 expenditure budget by $80m according to Adam Mutawakilu, a Ranking Member of the Parliamentary Select Committee. He said that there was no justification for some of the projects captured in the 2019 budget of the GNPC. According to the committee, the GNPC must prove beyond every reasonable doubt what the funds are going to be used for. They (the committee) have scrutinized every project and they will be going on the field to check and ask all the relevant questions. The GNPC in a sharp response refuted claims that it is overspending.

📡 Nana Addo preaches fiscal discipline ahead of exit from IMF programme

President Nana Akufo-Addo has assured that his administration will continue to maintain fiscal discipline in the aftermath of the exit of the International Monetary Fund (IMF) programme on April 2. The Executive Board of the IMF just approved the final disbursement of about US$185.2m to Ghana. The 3 year arrangement was approved on April 3, 2015 and was aimed at restoring debt sustainability and macroeconomic stability in the country. Akufo-Addo stressed that discipline in the management of public finances has to be the basic element for building the economy, so that's the lesson that the latest bailout program from the IMF should impress upon everyone.

|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💤
⚖ Huawei's equipment poses 'significant' security risks, UK says

The U.K. government warned on Thursday that Huawei's telecommunications equipment raises significant security issues and it is posing a possible setback to the Chinese tech firm as it looks to build out 5G networks. In a report evaluating Huawei's security risks, British officials stopped short of calling for a ban on Huawei's 5G telecommunications equipment. But the assessment cited underlying defects in the company's software engineering and cyber security processes, citing significantly increased risk to U.K. operators.

⚖ Daimler and Geely Holding team up to develop electric cars

Auto giants Daimler and Geely Holdings have announced a new joint venture to further develop Smart electric vehicles. The firm's in their terms of agreement stated that "a new generation of Smart electric models" would be assembled at a purpose-built electric car factory in China. Global sales of the new cars are set to start in 2022. The joint venture builds on an agreement between Daimler Mobility Services and Geely Technology Group to work together on a ride-hailing service in China.

⚖ Coffee growers, future crops at risk amid low global prices - producers

Global coffee growers are being forced into poverty by low international prices for the crop, farmers' representatives said at an international conference, warning the future of the industry is at risk. Coffee future are near a 13-year bottom, trading as low as 93.45 cents per pound on Wednesday and that is far below the cost of production in most countries. The World Coffee Producers Forum said in a statement on Tuesday at Nairobi, where the International Coffee Organization is conducting a biannual meeting that New York market prices are allowing the impoverishment of producers.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0798    5.0850
Pound Sterling   GBPGHS       6.7169    6.7249
Swiss Franc         CHFGHS       5.1092    5.1128
Canadian Dollar CADGHS       3.7867    3.7902
Euro                      EURGHS       5.7182    5.7233
Chinese Reminbi CNYGHS      0.7549    0.7558

🌀|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📚
🤔 Market
A market is a place where two parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical like a retail outlet, where people meet face-to-face, or virtual like an online market, where there is no direct physical contact between buyers and sellers.

🤔 Can you name the types of markets there are?

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