- CPC ended the week as the sole gainer on the GSE with a week-on-week gain of 50%, while FML and UNIL recorded price declines of -15.45% and -9.96% respectively. The GSE-CI shed 6.97 points to close at 1,840.07 points. With no price change in financial stocks, the GSE-FSI stayed flat at 1,687.40 points.
- The Government raised an amount of GHS 1,026.57m from last week’s 91, 182 and 364-Day Bills auction, thus missing its target of GHS 1,041.00m by 1.39%.
ECONOMIC SCOOP
Registrar-General to commences liquidation of collapsed Fund Management Companies
- The Registrar-General and Liquidator for the collapsed Fund Management Companies has started formal procedures to liquidate 20 out of 53 firms whose licenses had been revoked by the Securities and Exchange Commission (SEC) in November 2019.
- The liquidator has assured that payment to the customers in the first phase will commence before the end of September 2020.
Government of Ghana releases its Issuance Calendar for September to November 2020
- For the period, Government plans to issue a gross amount of GH¢22,727.87 million, of which GH¢19,677.65 million is to rollover maturities and the remaining GH¢3,050.22 million is fresh issuance to meet Government’s financing requirements
- Issuance of the 20-year bond as a shelf offering will be re-opened based on investors request and on market conditions
- Consistent with the Medium-Term Debt Management Strategy, government may announce tap-ins/reopening of other existing instruments depending on market conditions.
