Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭29th March, 2019
                ⏰6:00pm


BUSINESS SPACE📈
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📡 Govt seek $200m to ensure sustainable mining

Government is seeking to raise some $200m from donors for the implementation of the Multi-sectorial Mining Integration Project which seeks to ensure sustainable mining in the country. The World bank and the Australian government have already committed $30m and $500,000 respectively for the implementation of the project. The project was launched last year on the wake of illegal mining (galamsey) which destroyed several acres of land across the country. The project according to the Ministry of lands and and Natural Resources, contains strategies to help reclaim lands destroyed through illegal mining activities.

📡 Private sector participation needed in extension service delivery

Kennedy Osei Nyarko, Deputy Minister for Food and Agriculture has called for active private sector participation in extension service delivery. He says the ratio of extension officers to farmers is woefully inadequate and must be looked at critically. Statistics from the Ministry shows that the ratio of farmers to extension officers is currently 1:3000. He has called for more participation from the private sector as the ratio is woefully inadequate despite government's intervention by recruiting 2,700 officers to provide services across the country.

📡 $3bn Eurobond success signals investor confidence in Ghana

Finance Minister, Ken Ofori-Atta told parliament on Thursday that the success of the recent $3bn Eurobond issue confirms foreign investors' confidence in the economy. He said that the success of the $3bn Eurobond issue was significant because it has been recorded despite Ghana's exit from the IMF programme. He added that with about 20% over subscription in the latest Eurobond, the international investment community has confirmed that they feel safe to invest in Ghana.

|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 tops $100 billion revenue for first time despite political headwinds

Huawei's revenue grew 19.5 percent in 2018, surpassing $100 billion for the first time, despite continuing political headwinds from around the world. Sales came in at 721.2 billion yuan ($107.13 billion) last year. Net profit reached 59.3 billion yuan, higher by 25.1 percent compared to a year ago. The revenue growth was faster than that seen in 2017, but the net profit rise was slightly slower. Huawei's numbers are a bright spot for the firm, which has faced intense political pressure.

⚖H&M beats profit forecasts after it curbs discount

Swedish fashion retailer H&M reported a smaller than expected fall in first-quarter pretax profit on Friday as it sold more products at full price and saw an improvement in margins. Shares in the world's biggest apparel retailer after Zara-owner Inditex umped 13 percent after its results, to 160 Swedish crowns by 0809 GMT, as it said markdowns would continue to fall in the current quarter. The company has seen profits shrink and stocks pile up in recent years due to slowing footfall at its core-brand stores and as it has not been fast enough to react to demand swings.

⚖ Chinese shares surge more than 3 percent as trade talks in Beijing conclude

Shares in China surged on Friday as U.S.-China trade negotiations in Beijing this week concluded. By the market close, the Shanghai composite had jumped 3.2 percent to 3,090.76, while the Shenzhen component surged 3.77 percent to 9,906.86. The Shenzhen composite also added 3.38 percent to 1,695.14. The CSI300 index, which tracks the largest shares on the mainland, also saw major gains of 3.86 percent to finish at 3,872.34.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0798    5.0850
Pound Sterling   GBPGHS       6.6529    6.6698
Swiss Franc         CHFGHS       5.0993    5.1041
Canadian Dollar CADGHS       3.7890    3.7930
Euro                      EURGHS       5.7079    5.7126
Chinese Reminbi CNYGHS      0.7538    0.7548

🌀|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📚
🤔 Profit
Profit is a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity. Any profit that is gained goes to the business's owners, who may or may not decide to spend it on the business. Profit is calculated as total revenue less total expenses.

🤔 How is profit calculated?

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