- The impact of three gainers was outweighed by two laggards as the GSE-CI and GSE-FSI posted declines of 12.27 points and 21.51 points translating into year-to-date returns of -19.02% and -17.52% respectively at the close of trading last week.
- At last week’s auction, Government raised 93.62% of the target amount, the equivalent of GHS 860.40m out of the GHS 919.00m target amount. Book building is expected to start on Wednesday 16th September 2020 to raise funds (size yet to be determined) to refinance an upcoming September 2020 3-Year Bond maturity.
ECONOMIC SCOOP
Inflation drops to 10.50% for August 2020, the lowest in five months
- The 0.90% drop in inflation from 11.40% in July 2020 was mainly due to the drop in Food and Non-Alcoholic Beverages inflation rate from 13.70% in July to 11.40% in August.
- On the other hand, inflation for Non-Food items inched up to 9.90%, 0.20% above the rate in July.
- On a regional basis, the Volta Region posted the lowest rate of 4.70% while Greater Accra recorded the highest rate of 13.50%.
Registrar-General expected to announce payment plan for clients of twenty defunct Fund Management Companies
- As part of the liquidation process of 20 out of the 53 defunct Fund Management Companies which began last week, the Registrar-General is to release a payment plan for clients of these firms this week following a series of engagement that sought to clarify the validation of clients’ claims.
- The Registrar-General has assured customers of commencing the first phase of payments before the end of September 2020.
