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Dangote Refinery plans a $14.3 billion expansion to double processing capacity to 1.4 million barrels per day by 2029 as it prepares for a major IPO.
MTN Ghana GSE trading reached GH¢126.32 million on September 7, accounting for more than 90% of the market’s total turnover.
The Bank of Ghana sold GH¢12.89 billion in 14 day bills at an annualised interest rate of about 10.50% as it continued managing liquidity in the financial system.
Ghana’s treasury bills oversubscription reached GH¢9.93 billion, with the 91 day bill attracting the highest demand as yields continued to decline.
The GSE closed lower on September 3 as 10 stocks declined, with MTN Ghana accounting for nearly 89 percent of total market turnover.
Nigeria’s naira has strengthened to its best official market level in more than two years, while Ghana’s cedi stability depends heavily on Bank of Ghana dollar supply.
Ghana Fixed Income Market turnover reached GH¢2.03 billion on September 2, driven by sell and buy back transactions, Treasury bills and DDEP bonds.
Ghana Stock Exchange turnover reached GH¢26.78 million on September 2, driven by MTN Ghana, which accounted for more than 90% of market value traded.
Finance Minister Cassiel Ato Forson has begun consultations ahead of Ghana’s US$10 billion New Economy programme, focused on production, investment and jobs.
GOIL has maintained petrol at GH¢15.43 and diesel at GH¢17.26 despite expectations of higher fuel prices in Ghana’s latest pricing window.
Finance and tax analyst Nelson Cudjoe Kuagbedzi projects Ghana inflation could rise to around 5% in August amid higher fuel prices and Middle East tensions.
Ghana Stock Exchange activity surged to GH¢25.86 million on September 1, with MTN Ghana accounting for 84.09% of total market value traded.