Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭12th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡 Allianz appoints new CEO to drive operations in Ghana

Allianz has appointed Gideon Ataraire as Chief Executive Officer of Allianz Life Ghana. He brings years of experience to the company and has proven record of taking Ghana to the next level. He was the head of Human Resources and General Services  at Allianz Nigeria. Allianz officially launched its life operations in Ghana in May 2018 with a promise to become the life insurance company of choice for Ghanaians. As new CEO, Gideon will bring to Allianz Life Insurance Ghana a wealth of experience in people management, building and managing start-ups as well as re-organization.

📡 Load shedding to minimize as Ghana Gas completes tie-in of gas pipelines

This follows the completion of the tie-in of gas pipelines connecting Takoradi and Tema in a bid to stabilize the production and supply of power. This should increase Ghana's power production by about 450 megawatts within the coming months. There has been power cuts in the country over the past two months which the Energy Ministry has attributed to various reasons. The disclosure by the Ghana Gas company limited came about 24 hours ahead of the scheduled date for completion of the tie-in process of gas pipelines from Takoradi to Tema.

📡 GIPC expresses disquiet over presentation of forged documents in business registration

The Ghana Investment Promotion Center (GIPC) has expressed disquiet about the increasing rate at which foreign entities present forged documents to business regulators in Ghana. They claim that if the situation is not addressed it can negatively impact Ghana's image in the eyes of potential investors. The Chief Operating Officer at GIPC, Carl Nelson advised potential foreign businesses to deal directly with regulatory agencies in their search for documentation instead of using middle men to avoid any problems.

📡 Imani Alert: Ghana discovers Africa's biggest oil deposit but may lose $2.7bn

On 14th February 2019, the Ministry of Finance in a press release sent from Oslo, Norway, confirmed Aker Energy ASA's "significant offshore resource base in Ghana and has committed to scale up new development in the Deepwater Tank Cape three points block (DWT/CT)." The statement also said the announcement "was biggest oil find in Africa, of 450-550 million barrels, with potential recoverable reserves of nearly one billion barrels." At today's Oil price of $65 per barrel, that field is worth at least $30bn.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.30%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1887%                  14.7105%
182 - Day         14.0566%                  15.1192%

Foreign News💤
⚖ De Beers Says the Diamond Market Is Getting Better

De Beers’ Chief Executive Officer said an improvement in diamond sales demonstrates that the poor demand for smaller stones that has plagued the company and its competitors in recent months is stabilizing. Bruce Cleaver, the CEO of the world’s biggest diamond company, said the poor demand for stones valued at less than $100 a carat has been due to a surfeit of supply, currency weakness in India and the difficulty faced by gem cutters in accessing financing. While the currency of India, which is the world’s biggest cutter and polisher of diamonds, has fallen 5.7 percent against the dollar over the last year, the rupee has arrested that decline, gaining 1.9 percent over the last three months.

⚖ South African MPC Remains Steadfast on CPI Target Midpoint

The South African Reserve Bank is steadfast that it wants to see inflation expectations anchored at the 4.5 percent midpoint of its target range, Governor Lesetja Kganyago said. While the central bank unexpectedly raised its key rate to 6.75 percent in November, its current policy stance remains accommodative with the benchmark rate still below neutral, Kganyago said in an interview on Thursday with Bloomberg Television in Washington.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0837    5.0887
Pound Sterling   GBPGHS       6.6459    6.6545
Swiss Franc         CHFGHS       5.0670    5.0716
Canadian Dollar CADGHS       3.8016    3.8039
Euro                      EURGHS       5.7292    5.7337
Chinese Reminbi CNYGHS      0.7566    0.7573

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com
www.wikipedia.com
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📌Announcement
   Subject: Opening of Nominations
⭕Pursuant to articles 6 and 13 of the FINSA constitution, notice is hereby given to the general student body in the Department of Finance that nominations for executive officers for the 2019/2020 academic year have been opened.
The available portfolios are:
▶President
▶Vice President
▶ Second Vice President (City campus only)
▶General Secretary
▶Financial Secretary
▶Organising Secretary

⭕Interested applicants should send a copy of their CV and application letter to finsa2018@gmail.com
⭕Applicants must be FINSA members and also meet the requirements of article 6(2).
⭕Deadline for submission is Friday April 19, 2019 11:59:59 GMT
To pick up a form contact...
Scholastica Atigni Akolgo
(General Secretary)
0207198090
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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu