Ghana 2021 Q1 Financial Update
Tesah Capital Limited’s Research examines major themes in financial markets, performance and statistics of the stock and bond market in Ghana in this quarterly market update.Key Insights• Performance of key economic variable.• General performance of the fixed income and equity market. Click here to download the full report.
On Ghana’s 2021 budget and a looming debt crisis
The highlights of the budget presented to parliament on Friday 12th March 2021 were the size of Ghana’s debt to GDP ratio and the introduction of new taxes and levies. The provisional debt stock as at end-December 2020 which stood at nominal figure of GH¢291,614 million, representing 76.1% of GDP is the largest since 2000. […]
Recent Trends in Portfolio Flows– Should Local Investors be Concerned?
Data from the Central Securities Depository (CSD) indicated a strong resumption of capital flows into the capital markets throughout the fourth quarter of 2020 (see Fig. 1 below). Some analysts attributed the strong capital inflows to increased optimism about Ghana’s economic growth, amid easing trade tensions between the United States and China. Some analysts have […]
Performance of Selected African Stock Markets In 2020
The year 2020 started out on a good note for most African stock markets, with opportunities and investment prospects catching the attention of both local and foreign investors. The outbreak of the COVID-19 pandemic, however, resulted in a reduction in market activities and various indexes turned red by close of year 2020. Selling pressures intensified […]
Bank of Ghana is Deservedly the Best Central Bank in the World for 2020
A central bank is an institution responsible for formulating monetary policy to achieve price stability and help manage economic fluctuations. In the wake of the economic downturn of the Covid-19 pandemic, central banks globally responded with unprecedented monetary accommodation to mitigate the impact of the pandemic shock on households and businesses. The Financial Stability Board […]
Central bank independence: Why does It matter?
In our earlier article on the concept of central bank independence, we explained what it was and how it is measured. In this article, we explore why central bank independence matters. We also explore arguments put forth against central bank independence. Central Bank Independence is important because researchers have found that the more independent a […]
The concept of central bank independence
On 1st August 1957, Ghana’s central bank, the Bank of Ghana, opened its doors for operations following its establishment on 4th March 1957 under the Bank of Ghana Ordinance No. 34, 1957. Prior to that, the West African Currency Board (WACB) had been established by the British in 1912 to issue and redeem currencies for […]
Banks in Ghana Rankings for Q3’2020
Overview The bank rankings were based on the financial statements released by the banks for the first nine (9) months of 2020. The rankings focused on twenty-one (21) banks out of the 23 commercial banks in Ghana, as the financials of OmniBSIC and Prudential were unavailable at the time of the analysis. The rankings emanated […]
Need for Securitization of Loans Sitting on the Balance Sheets of Banks in Ghana
Introduction In this article, I discuss the concept of asset securitization. Of course, a whole book can be written on this topic. What I do here, is to focus on the key elements and provide a summary that I hope will deepen understanding in this area. Securitization is a seasoned tool for raising funding and […]
Performance of Selected African Stock Markets in 2020
The year 2020 started out on a good note for most African stock markets, with opportunities and investment prospects catching the attention of both local and foreign investors. The outbreak of the COVID-19 pandemic, however, resulted in a reduction in market activities and various indexes turned red by close of year 2020. Selling pressures intensified […]
