- The two major indicies, GSE-CI and GSE-FSI recorded significant drops last week as the market closed with no gainers, helping deepen the impact of the losses on EGH and SOGEGH stocks.
- Government raised a total of GHS 1,924.00m at last week's auction, out of which GHS 1,155.92m was through 91, 182 and 364-Day Bills and the remaining GHS 768.08m raised through a 2-Year issuance.
ECONOMIC SCOOP
Gold production in Ghana in 2021 is expected to grow by about 9 percent, the biggest growth rate in years.
- This is expected to push the volume of gold produced in Ghana to 4.65 million ounces next year according to a report by Global market analysis outfit Fitch Solutions.
- The increase in gold production will help Ghana maintain its position as Africa’s largest gold producer in 2021, after surpassing South Africa in terms of gold production in 2019.
- According to Fitch Solutions, significant growth in Gold production in Ghana will be driven by the Phase 2 completion of AngloGold Ashanti’s Obuasi Project.
