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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Financing agric sector alone not enough to grow it – GIRSAL CEO

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Kenya:Foreign dollar investors pump Sh1bn into NSE

bycitibusinessnews
June 16, 2016
in Africa, East Africa, Top Stories
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Foreign investors have scaled up their buying activity at the Nairobi Securities Exchange (NSE) over the past four weeks, pumping in a net of Sh1 billion as return for dollar investors goes up.

The hard currency return on the constituent stocks of the NSE FTSE 15 index over the past month stand at 1.44 per cent, which analysts said has spurred foreign investors to pump in capital into the market. Year to date, the return stands at 0.23 per cent.

International investors normally pick their portfolios based on the FTSE NSE indices, where the FTSE NSE Kenya 15 Index tracks the performance of the largest 15 stocks ranked by entire market capitalisation.

They trade heavily on the large cap counters of Vodafone majority-owned Safaricom, Diageo-owned East African Breweries Ltd (EABL), Equity Holdings and KCB Group.

The positive returns come as the shilling continues to enjoy stability against the dollar, at a time valuations in stocks have generally dropped. The foreign investors have been buying mainly the large blue chip counters which offer sufficient liquidity to support big deals.

“The buying activity is because the market is a bit discounted at the moment in terms of valuations, especially for those looking for medium term investments in the banking and manufacturing sectors,” said Sterling Capital analyst Eric Munywoki.

“Looking at the prevailing dollar returns, with the shilling stable and the indices slightly down, it would make it a good time for an investor to buy.”

For a dollar investor, a stronger shilling at the time of selling a stock relative to the time it was bought translates into an exchange gain when they convert their proceeds back to dollars, thus raising the returns from that particular investment.

Since the beginning of the year, the shilling has gained 1.1 per cent against the dollar, which has served to reassure investors who were concerned in the second half of last year—when exchange rate exhibited volatility forced the regulator to offer support by mopping up excess liquidity thus pushing up interest rates.

Most of the inflows over the past month have been on the Equity Holdings counter, which had a net inflow of Sh870 million over the period.

The counter’s price remains unchanged at Sh40. Safaricom has also attracted sizeable net inflows at Sh651 million, with investor interest rising after the firm announced a 19.6 per cent rise in net profit to Sh38.1 billion in the year to March 2016.

The telco has one of the highest returns on equity (ROE) in the market at 32.6 per cent, meaning that most of its profit goes to shareholders in dividends as it has already carried out most of the necessary capital investment required to generate income.

On the foreign outflow side, EABL has led the market at Sh713.5 million in the past one month, while KCB has also had a net outflow position of Sh256 million.

–

Credit: Business Daily

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Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

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