DEVELOPMENT OF THE GHANA STOCK EXCHANGE WEEK 13-08-18 TO 17-08-18

IN THE LAST WEEK THE GHANA STOCK EXCHANGE – BOTH THE CONPOSITE AS WELL AS THE FINANCIAL – HAD A POSITIVE DEVELOPMENT.

ALTHOUGH FAR AWAY FROM THE AROUND 3,500 WITHIN THE LAST 52 WEEKS (SEE BLOOMBERG GSE), THE COMPOSITE STABILIZES AROUND 2,800 AND THE FINANCE AROUND 2,600 – WHICH IS A GOOD SIGN, BECAUSE IT SHOWS SOME CONSIDENCE IN THE ECONOMICAL POLICIES OF THE CURRENT GOVERNMENT. IT IS, HOWEVER, INTERESTING TO NOTE THAT DESPITE ALL THE PROBLEMS OF THE BANKING SECTOR IN GHANA, THE FINANCIAL SECTOR HAD THIS WEEK EVEN A HIGHER INCREASE THAN THE COMPOSITE.

OUTLOOK:

IT CAN BE EXPECTED THAT IN THE COMING WEEK BOTH  – THE COMPOSITE AS WELL AS THE FINANCIAL – WILL STABILIZE FURTHER, AS WE ARE AWAITING THE START OF TRADING IN MTN GHANA SHARES AT THE BEGINNING OF SEPTEMBER.

A FURTHER COMMENT ON THE BOG REVOKING BANK LICENSES

INTERESTING ARGUMENTS COME ACROSS THE MEDIA WHEN IT COMES TO THE DECISION OF (BOG). FOR SOME PEOPLE, THE BOG IS WEAK (WHICH SHOULD OBVIOUSLY BE SHOWN BY ITS DECISION TO REVOKE THE LICENSES), AND NEEDS REFORMS, OTHERS DO NOT ONLY WANT THE DIRECTORS OF THE BANK INVOLVED TO BE INVESTIGATED, BUT ALSO OFFICIALS OF THE BOG. WHAT IS GOING ON THERE?

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