Tag Archives: Ghana

Non-existent radicalists: panacea for our woes

The political theory of radicalism most often than not detonates the alteration process of social foundations.  This political principle is seen as a revolutionary means of altering the social structures and fundamentally changing the value systems.

 Is the absence of these radicals in recent times, a panacea for our woes as a country?

Ghana, as a country has reach an apogee, where the radical, vociferous and politically-awakened youth must counterpoise and reorient all stakeholders to create awareness, facilitate exchange of knowledge and best governance practices among political actors and governance processes.

This has a capacity to generate positive and sincere commitment from both public and private stakeholders to the contemporary issues, and trigger a shift of mindset from staunched ideological perspectives, as a competitive space to a genuine, collaborative and nationalistic space with the capacity to drive a holistic growth for Ghana.

Ghana is the land of our birth, and therefore the responsibility imposed on citizens by the 1992 Constitution to defend and uphold the integrity of Ghana must be of critical importance to every citizen!

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GSE snapshot: 2 losers and 2 gainers [Friday January 29, 2016]

GSE closes with 2 losers and 2 gainers on Friday January 29, 2016.

  • Volume Traded was 123,749.00
  • Market Capitalization was 56,963.50 million cedis
  • All Share Index was 2,004.12 pts
  • Index Change was 2.17 pts
  • Year-to-Date of 0.46%

At the end of Friday’s trading session, a total of 123,749 shares valued at GH¢48,848.63 were traded. Fourteen equities traded with two losers and two gainers. CAL and HFC lost two pesewas and five pesewas each to close at GH¢1.00 and GH¢1.05 per share respectively. On the other hand, BOPP and SIC gained three pesewas and one pesewa each to close at GH¢3.05 and GH¢0.19 per share respectively. As a result of this price change, the GSE Composite Index lost 2.17 points to close at 2004.12 representing a year-to-date gain of 0.46%.

Please remember the value of investments can go down as well as up and you may not get back the amount you initially invested. If you have any doubts about which investment product is right for you please contact your financial adviser.

GSE snapshot: 2 losers and 1 gainer [Tuesday January 26, 2016]

GSE closes with two (2) losers and one (1) gainer on Tuesday January 26, 2016.

  • Volume Traded was 253,929.00
  • Market Capitalization was 56,738.69 million cedis
  • All Share Index was 1,998.19 pts
  • Index Change was 1.64 pts
  • Year-to-Date of 0.16%

At the end of Tuesday’s trading session, a total of 253,929 shares valued at GH¢1,062,902.37 were traded. Thirteen equities traded with two losers and one gainer. SOGEGH gained one pesewa to close at GH¢0.83 per share.  Whilst PZC lost one pesewa to close at GH¢ 0.32 per share, and CAL also lost two pesewas to close at GH¢1.02 per share.

As a result of these price changes, the GSE Composite Index lost 1.64 points to close at 1,998.19 representing a year-to-date gain of 0.16%.

Please remember the value of investments can go down as well as up and you may not get back the amount you initially invested. If you have any doubts about which investment product is right for you please contact your financial adviser.

Ghana in the eyes of 2016: Can the fiscal discipline hold?

images.jpgGhana’s public resentment as has just started with Teachers and Nurses and the parent Organized Labour is expected to rise due to the poor performance of the economy, something that is expected to cost the current administration power at the 2016 elections.

The formal agreement of an assistance package with the IMF during 2015 will still continue to somehow help improve policymaking, but is not in itself an answer to all of Ghana’s current troubles. The government is expected to find it politically tricky to make the needed budgetary cuts to fiscal spending this year.

Also the expected adverse outlook for commodity prices as a result of world economic shakes will dent export performance, making 2016 a very tough year in perspective. Can we as a country withstand the tide? That’s a multi-million dollar question worth answering….

Sipping on my mix fruit juice at a coded location!

Ghana Armed Forces to hire ten deadly “Jihadists” to counter resident Gitmo Detainees: ‘A satirical Piece’

Syria-assad-al-nusra_8-1-2013_111874_l.jpgFollowing the two Gitmo terrorists’ transfers made to Ghana on Wednesday 6, January 2016  by the United State government, the military high command of Ghana is taking steps to recruit ten of the deadliest Jihadists from around the world to counter the latest intelligence pick up on the danger these duo pose to the security of Ghana.

Having contacted Iraq, Afghanistan, Syria, Yemen and Saudi Arabia, the Ghana Armed Forces is not too impressed about the efficacy of the current candidates. The military command therefore intends to do a worldwide search for ten of the most deadliest Jihadist to train the Ghana Military on some of the current and novel strategies to counter terrorism in Ghana.

Meanwhile, the president of Ghana His Excellency John Dramani Mahama is scheduled to take some precautionary training from the two deadliest Guantanamo detainees sent to Ghana at the Shai Hills training grounds somewhere next week. The first lady having heard the information is so angry at the President for being selfish by recommending the precautionary training for only himself and not for his entire family.

Information indicate that the first lady is currently in a crunch meeting with Mahmud Umar Muhammad Bin Atef, an admitted member of the Taliban who fought for Osama bin Laden as well as Khalid Muhammad Salih Al-Dhuby, an Al Qaeda loyalist to broker a deal to included her and her entire children in the precautionary training.

Information has it that, the Mahama-led government will in due course announce to the good people of Ghana, that as a matter of urgency  all citizens must start personal training in anti-terrorism to  avert any future unexpected difficulties since the government is so broke to pay for such training on a mass scale. Marshal art, Kunfung, Kick-boxing and Rambo style among others are recommended by the government, since these alternatives are known to be apt for counter terrorism.

Ghana’s New Year bond “oversubscribed”?

Bonds is a necessary monetary policy initiative that create inflows to support the budgetary allocations of governments. In the case of Ghana’s New Year bond, the proceeds will be used in restructuring GOG debt as well as for maturity settlement.

The government of Ghana on 7th January targeted a whopping 500 million cedis in its first bond for the year 2016. The unfortunate outcome, even though not surprising is the failure on the part of government to obtain the expected 500 million cedis, regardless of the fact that the Bank of Ghana; a statutory institution and regulator, mandated to issue such bonds on behalf of government did due diligence and issued the bond on pro rata, at a 24.75% yield. This puts the yield of the latest New Year bond slightly ahead of the three-year October bond which had a yield of 24.5%.  Government is expected to receive a whopping 4.75 billion cedis as proceeds from the bond this January representing 15.4% of expected borrowings for the first half of 2016.

The outcome of this New Year bond is a reflection of the economic woes of the country currently. Effective January 1, 2016, the Country witnessed the implementation of the new Income Tax Act, 2015 (Act 896), which mandates banks to withhold tax on investment. This tax having been assented to on 1st September 2015, radically replaces the Internal Revenue Act, 2000, (Act 592) and any other laws to the extent that they are inconsistent with the provisions of the Act. It further sorts to also amend Section 84(3) of the Banking Act, 2004 (Act 673).

The new Income tax law sky rocketed a lot of key monetary indices. Popularly among them were the new regulations of GRA, which require that all banks and financial institutions withhold a 1% tax on interests earned on investment accounts.

Apart from interest earned by individuals on their investments with resident financial institutions, interests earned by individuals on Government of Ghana (GoG) bonds or Mutual Funds are also be taxed.

It is very important to note that, the implementation of the Income Tax Law, coupled with the tight financial system currently witnessing, in my opinion played an important role in the slightly low subscription of the New Year bond.

This trend is expected to affect the expected 30.4 billion cedis the government intends to raise through notes, bonds and treasury bills at the end of the second quarter.

From an investor point of view, the yield of 24.75% is good considering the duration and timing of the bond. Interested investors can trade the listed bond on the Ghana Stock Exchange for secondary market trading both at the floor of the Exchange or do same over the counter.

Please remember the value of investments can go down as well as up and you may not get back the amount you initially invested. If you have any doubts about which investment product is right for you please contact your financial adviser.

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