Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭9th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡 Ghana risks losing top cocoa producer slot - Lecturer warns

The Dean of Students the Bunso University College of Agriculture and Environmental Studies, Dr. Francis Awotwe says Ghana is likely to lose its place as the top cocoa producer in Africa if government does not show more commitment to improving the sector. He said the continued use of mercury soaked lands for cocoa cultivation may affect Ghana's prestigious position on the world market. He added that majority of cocoa farmers are cutting down their cocoa plantations for rubber and palm tree, which according to the farmers are more productive and lucrative.

📡 Revised benchmark values: Importers access actual figures on goods

Calculation and payment of new benchmark values on imports have been made easier following the publication of detailed documents by the valuation agencies at Ghana's ports. This comes after Vice President Bawumia announced on April 3, 2019 cabinet's decision to slash the benchmark values by 50% for all imports and 30% for vehicles. The Ghana Revenue Authority (GRA) commenced its implementation subsequently with a directive to the valuation agencies to adjust their valuation figures following the announcement.

📡 Peasant farmers association welcomes Planting for Export Policy

The Peasant Farmers Association of Ghana has welcomed government's new Planting for Exports and Rural Development policy. The programme, according to the Agricultural Ministry is to increase the export volumes of six tree crops including rubber, coffee, cashew, coconut and palm oil. The Head of Programmes and Advocacy at the Ghana, Charles Nyaaba says the government must do well to make the plan succeed. He however wants the government to extend its new policy of planting for exports and rural development to other agricultural areas. He's optimistic there are farm produce that qualify for export with little push from government.

📡 BoG justifies introduction of upgraded cedi notes

The Bank of Ghana (BoG) says the introduction of the upgraded cedi note is a normal exercise it undertakes to fight counterfeiting of the currency. According to the bank, both old and new note will be used together until the old ones phase out. The last time such an exercise was done was in 2007 when all notes were redenominated. The two cedis and five cedis notes were also upgraded in 2010 and 2016 respectively.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.20%|

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

Foreign News💤
⚖Goldman Says for a Peek Into Oil's Future, Go Back to 1990s

The future of the oil market may resemble the past -- specifically the 1990s -- according to Goldman Sachs Group Inc. That’s when prices remained steadily in backwardation, a market structure where near-term futures are costlier than later contracts -- reflecting tight supplies in the present and ample barrels further out, analysts including Damien Courvalin wrote in a April 8 report. The phenomenon may persist as OPEC exits its current output cuts aimed at averting a global glut, adding supply back to the market in a move that would weigh on long-dated prices, Goldman said. That will maintain backwardation and lead U.S. shale drillers to limit activity, according to the bank.

⚖Foreigners Are Stocking Up Again on South African Bonds

Foreign investors increased their share of South African government bonds for the second time in February to 38.9 percent, according to National Treasury data, boosting inflows this year's to $867 million after a record sell-off in 2018 pushed non-resident holdings to the lowest in almost two years. Demand has been spurred by a more dovish Federal Reserve and relatively high yields. The debt has returned 7.1 percent this year in dollar terms, compared with the emerging-market average of 2.9 percent.

⚖London Housing Market Shows Early Signs of Life, UBS Says

UBS Group AG says there are tentative signs of life emerging in London’s Brexit-battered housing market, even if the overall picture remains pretty bleak. The bank’s London Residential Monitor showed the proportion of home listings where the price had been falling somewhat since its last report in January, to 36 percent from 39 percent. The average reduction where the price has been cut has also declined, supply has tightened since the turn of the year and discounts are narrowing in cheaper boroughs, the bank said.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0825    5.0875
Pound Sterling   GBPGHS       6.6301    6.6387
Swiss Franc         CHFGHS       5.0852    5.0898
Canadian Dollar CADGHS       3.8161    3.8199
Euro                      EURGHS       5.7235    5.7284
Chinese Reminbi CNYGHS      0.7568    0.7577

🌀|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📚
🤔 Coupon
A coupon is the annual interest rate paid on a bond, expressed as a percentage of the face value. It is also referred to as the "coupon rate," "coupon percent rate" and "nominal yield."

🤔 What is a coupon in terms of investment?

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