Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭3rd April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡SEC increases capital requirement for capital market operators

The Securities and Exchange Commission (SEC) has indicated that it will increase the minimum capital requirement for companies operating within the Capital Market by end of year. The companies include Fund managers, mutual funds, unit trusts, broker dealers and custodians. Fund Managers for instance will have their present minimum capital of Ghc100,000 increased to Ghc2 million. The move is to help sanitize and strengthen the capital market.

📡COCOBOD denies using vegetable oil to control pests

The Quality Control Company Limited (QCC) of COCOBOD has dismissed claims that it used vegetable oil for pest control on some cocoa farms. There were media reports suggesting that the company has bought off-the-shelf vegetable oil at an overpriced cost compared to what is commonly found in local shops. But a statement issued by the Ghana COCOBOD which has supervisory role over the QCC said the assertions are untrue. The QCC maintained that it is cautious about the health of consumers hence will not jeopardize the system to reduce the quality of cocoa beans produced in Ghana.

📡GIPC leads business delegation to AIM 2019 in Dubai

The Ghana Investment Promotion Centre (GIPC) in collaboration with the Dubai Chamber of Commerce is organizing an investment promotion mission to the United Arab Emirates (UAE). Partnered by the Ghana Free Zones Authority (GFZA) and the Ghana Export Promotion Authority (GEPA) the mission is being held on the sidelines of the 9th Annual Investment Meeting (AIM 2019). The objective of the mission is to build on Ghana’s reputation as an attractive foreign direct Investment (FDI) friendly destination in West Africa.

📡ADB gets 146.6 million cedis from shareholders

ADB bank has raised an additional 146.6 million cedis from shareholders to shore up the bank’s capital level. The move also follows the bank’s renounceable rights issue that it embarked on in March. According to the statement released by ADB, the amount raised represents over sixty percent of the subscription offer. This adds up to the bank’s existing 425 million cedis capital. As a result, adb’s capital will stand at 571 million cedis when the process is completed.

|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💤
⚖Commerzbank to decide on April 9 on merger talks with Deutsche: WiWo

Commerzbank's executive board is due to decide whether to intensify merger talks with Deutsche Bank or back away from a deal, German business weekly Wirtschaftswoche said on Wednesday. The magazine said Commerzbank's management is scheduled to discuss how to proceed in the merger talks during its next regular session, Wirtschaftswoche added, citing company sources and an internal memo.

⚖Germany could enter a recession but this would actually be good for Europe, economist says

Germany could enter a recession by the fourth quarter of 2019, but this could prompt a key period in the continent's economic evolution that could ultimately benefit the region, according to one investment bank. Seen as the traditional growth engine of Europe, German politicians called for strict austerity measures in southern Europe after the euro zone debt crisis of 2011. But with the country now experiencing its own economic woes, Denmark's Saxo Bank believes that Berlin could kick start spending and investment and radically change Europe's economic environment.

⚖Clean energy and climate change are helping Big Oil, Goldman Sachs says

The push towards decarbonization is creating barriers to entry in the oil industry, making major oil players – known as "Big Oils" -- more profitable, Goldman Sachs' head of EMEA Natural Resources Research, told CNBC. "The decarbonization push, the push from the market to adapt to climate change, is tightening the financial conditions in the sector so much that the barriers to entry are being recreated and the market structure that was lost at the beginning of the 2000s is being reconsolidated.

⚖US and China are reportedly drawing closer to a final trade agreement

American and Chinese officials negotiating a trade deal have resolved most of the outstanding issues but are still haggling over how to implement and enforce such an agreement, the Financial Times reported late Tuesday.Both countries have yet to agree on a number of important issues.Beijing wants Washington to remove existing U.S. tariffs on Chinese goods and, for its part, the United States wants China to agree to terms of an enforcement mechanism ensuring it abides by the deal, the FT said.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0832    5.0882
Pound Sterling   GBPGHS       6.6356    6.6401
Swiss Franc         CHFGHS       5.0867    5.0913
Canadian Dollar CADGHS       3.8128    3.8166
Euro                      EURGHS       5.6908    5.6953
Chinese Reminbi CNYGHS      0.7560    0.7566

🌀|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📚
🤔 Takeover
A takeover occurs when one company makes a bid to assume control of or acquire another, often by purchasing a majority stake in the target firm. In the takeover process, the company making the bid is the acquirer while the company it wishes to take control of is called the target. Takeovers are typically initiated by a larger company for a smaller one. They can be voluntary, meaning they are the result of a mutual decision between the two companies. In other cases, they may be unwelcome, in which case the larger company goes after the target without its knowledge.

🤔Can you state some causes of a takeover?
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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu