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

BUSINESS SPACE📈
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📡 Interest rate on loan for KIA Terminal 3 project expensive - Kofi Adda

Ghana's Aviation Minister Joseph Kofi Adda has described the interest rate for the loan secured for the construction of the Terminal 3 at the Kotoka International Airport as too much. In 2015, Ghana Airports Company Limited (GACL) secured a US$250m loan for the construction of Terminal 3 at an interest rate of Libor plus 8.5% with the approval by a consortium of banks led by Ecobank Capital. It was the first private-sector investment made by the bank in Ghana's transport sector. Mr Adda said the expensive nature of the credit facility is negatively affecting the Ghana Airports Company Limited.

📡 Dubai Chamber to support textile, apparel Industry in Ghana

The Accra office has expressed its commitment to providing the guidance and assistance to members in the textiles and fashion industry that are keen to enter the Dubai market.The  Head of the Dubai Business chamber in Ghana, Cyril Darkwah, in a meeting said that Dubai has a $4 billion textile market which Ghanaian manufacturers can take advantage of since its a very high capital investment and returns are equally good.

📡 Jumia launches independence mega sales promotion

Jumia Ghana, the biggest online shopping platform in Ghana has launched mega sale promotional to commemorate Ghana's 62nd independence anniversary. Some products on sale have had their prices reduced by as much as 75% whilst customers can also get some items with prices slashed by half. The reason behind this according to Stephen Sawyer, Head of Growth at Jumia is that the company is committed and sensitive to their needs because for then affordability and convenience are two key value propositions that underpin every decision they take.

📡 BoG's decision to release more dollars to stabilize cedi good - Economist

Economist Dr. Lord Mensah has described the decision by the Bank of Ghana (BoG) to add a minimum of $800m to Ghana's reserves in an attempt to stabilize the Cedi against the dollar as a step in the right direction. The Cedi has weakened by 8.6% this year. This according to the Central Bank will increase Ghana's net international reserves to about $4bn, an amount that will boost confidence in the system Nd assist in stabilizing the local currency. Dr Lord Mensah said although the government must pay attention to investing in more long-term measures the move is by the BoG is needed in such a time when the Cedi is struggling against the dollar.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.00%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1868%                  14.7085%
182 - Day      14.0676%                  15.1320%
364 - Day         15.2749                     18.0287

Foreign News💤
⚖ Trump pushing for trade deal with China in hopes of boosting stock market ahead of 2020 bid

President Donald Trump is pushing hard to strike a trade deal with China with the hopes of lifting stock market prices further into his re-election bid, three sources briefed on talks told CNBC. The sources said Trump wants a rally as he gets set to run for a second term and has decided resolving the U.S. - China trade dispute can make that happen. He is increasingly concerned that the lack of trade agreement could knock down stocks.

⚖ Bugatti unveils the most expensive new car ever built

Bugatti, the French sports car brand that is now owned by German automaker Volkswagen (VW), has revealed the most expensive new car ever built. With a price tag of £16m ($19m), the Bugatti La Voiture Noire was publicly debuted at Geneva International Motor Show in Switzerland. Bugatti says the car is "more than a modern interpretation" of Jean Bugatti's Type 57SC Atlantic, of which only four were made. The new owner however hasn't been revealed but there are reports suggesting that former VW Group chairman Ferdinand Piech has added it to his collection of high-end cars.

⚖ France targets Google, Amazon and Facebook with 3% digital tax

The French government on Wednesday introduced a tax aimed at internet giants like Google, Amazon and Facebook, forging ahead with stricter regulation on big tech without broad-based support from the European Union. The tax would apply to companies that generate worldwide revenues on their digital services of at least £750m, with £25m From within France. Other countries including the U.K., Germany and Spain are also working on their own measures. France's Finance Minister Bruno Le Maire estimated the tax will raise roughly £500m per year.

⚖ Economists warns that China's growth could plummet to 2% in the next decade

According to Capital Economics' Chief Asia Economist Mark Williams, at a conference in Singapore, China's growth could drop sharply to 2% in the next decade. His firm says China has been a strong performer among emerging economies, even if it's growth has been slowing. But that's set to end. He added that the estimated 2% growth is a "long way" from the 5% to 6% expected by the International Monetary Find for the next decade. They pointed to a number of risks, as well as changing demographics in the world's second largest economy. 

|Daily Interbank FX Rates|
Currency               Pairs Code   Buying    Selling
U.S Dollar                USDGHS 5.1976    5.2028
Pound Sterling         GBPGHS 6.8239    6.8328
Swiss Franc           CHFGHS    5.1925    5.1984
Canadian Dollar      CADGHS 3.8981    3.9020
Euro                          EURGHS 5.8893    5.8944
Chinese Reminbi     CNYGHS 0.7758    0.7761

🌀|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📚
🤔 Economic Growth
Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation. Traditionally, aggregate economic growth is measured in terms of gross national product (GNP) or gross domestic product (GDP), although alternative metrics are sometimes used.

🤔 Can you tell why Economic growth occur
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📍Compiled & edited by:     
Lestie Oppong
Philip Elike Gagah