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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    NIB MD laments cost of borrowing for private sector

    Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

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

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

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    NIB MD laments cost of borrowing for private sector

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

  • TECHNOLOGY

    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

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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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

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Profit of banks on GSE up by 13%; but valuation of stocks down by 17%

byBobbie Osei
November 2, 2020
in Local Economy, Top Stories
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Despite registering strong profits across board for the first three quarters of 2020, listed banks on the Ghana Stock Exchange continue to see a drop in their valuation.

The Ghana Stock Exchange Composite Index (GSE-CI), which is primarily driven by financial and consumer stocks, has experienced losses for the past three years, with the current year to date loss for the entire index being about 18.6 percent, while the year to date loss for listed financial sector stocks is about 18.2 percent.

The trend has forced some investors to choose bonds over stocks.

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According to recently released unaudited results for many banks on the local bourse covering January to September 2020, they recorded an average increase in profit for the period under review of about 13 percent.

On the Ghana Stock Exchange however, institutions like GCB Bank, CAL Bank, Ecobank Ghana, SGSSB, and Access Bank, all saw their valuation for the same period under review, drop by an average of about 17 percent.

But according to the Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, investors are starting to take note of the impressive performance of the listed companies especially the financial sector stocks, and are returning to the equities market.

“We’ve started seeing demand pressure building up, and also the share prices of many of the companies have stabilized compared to the downward trend earlier in the year when the bargain hunters set in. So for the market, we are very confident going forward that we have bottomed out on the equities side.”

“Also the companies we realized were showing much better profits than we had anticipated, were especially in the banking, insurance, and telecommunications sector. So that has made them begin to look attractive again to investors and we see investors coming back unto the equities market,” she added.

Industry watchers blame COVID-19 for continuous uncertainty

For many industry watchers however, the pricing and valuation of the listed stocks does not reflect the strong fundamentals of the companies.

A key reason for the disparity is the uncertainty generated by the COVID-19 pandemic, forcing investors to turn to the fixed income market.

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Kwahu Summit to focus on Africa’s economic transformation under AfCFTA – APN

Ghana has the 4th cheapest average cost of internet in Africa – Statista

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

Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

E-Levy is an overhyped revenue generation measure – Seth Terkper

Leverage crises to improve fortunes of continent – Ofosu-Dorte

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