Heritage Securities Limited

Heritage Securities Limited

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Gideon Quist
Gideon Quist
With an investment firm that puts Investor satisfaction and prompt response to customer needs, Heritage Investment Ltd. is the place to turn to, for all you short to medium and long term investment needs and advisory services.

#HeritageSecuritiesLtd.
#InvestmentBankingSimplified

HERITAGE SECURITIES is an investment banking and fund management firm. We provide financial advisory and fund management services.

Operating as usual

04/07/2018
30/05/2018

#InvestToday #InvestWithHeritage

14/05/2018

#ThinkForward #StartNow

02/05/2018

"All our dreams can come true if we have the courage to pursue them." - Walt Disney
#YouCan #InvestToday

01/05/2018

Your #HardWork makes the difference.
#MayDay #InvestToday

23/04/2018

HSL MARKET SUMMARY REPORT

Market Summary Report as at April 20, 2018
#StartSomething #InvestToday

19/04/2018

Open a #WBA with a minimum of GHC 100.
#InvestWithHeritage #InvestToday #StartNow

18/04/2018

#StartNow #InvestToday

13/04/2018

Investment Banking Simplified...
#MustKnow #InvestWithHeritage

12/04/2018

"Don't wait. The time will never be just right." - Napoleon Hill
#InvestToday

11/04/2018

#InvestWithHeritage #InvestTip

10/04/2018

Investment Banking Simplified...
#I_Am_Heritage #InvestToday

16/03/2018

Share your 2018 dream with us?
#FridayFuntime

15/03/2018

HSL MARKET SUMMARY REPORT
Thursday, 15/03/2018
TERM OF THE DAY

Par Value
Par value is the face value of a bond. It is the principal amount that the lender (investor) is lending to the borrower (issuer). Let's assume Company ABC issues GHC1,000,000 in bonds to the public. It may do so by issuing 1,000 bonds, each with a GHC1,000 par value. When each bond matures, the borrower will pay back the par value of GHC1,000 to the lender.
ECONOMIC INDICATORS
BoG Policy Lending Rate
20.00%
GDP Growth Rate (Q3 2017)
9.30%
Inflation Rate (Feb. 2017)
10.60%
Banks Average Base Rate (Jan. 2018)
25.60%
Banks Average Interest Rate (Jan. 2018)
10.40%
USD/GHS
4.4181
GBP/GHS
6.1697
EUR/GHS
5.4669

Government seeks parliamentary approval for bond issuance
The government is seeking approval from Parliament for the issuance of bonds to refinance maturing external bonds and expensive domestic cedi-denominated debts. It is requesting Parliament for the issuance of the 2018 sovereign bond and the global depository note to use $1.50 billion to refinance maturing external bonds, including the 2022 and 2023 Eurobonds. It is also requesting for approval to use GH¢500 million to refinance expensive domestic cedi-denominated debts. The government again wants the House to give it approval to use $1 billion to finance the 2018 budget.
GOG TREASURY SECURITIES
91 - Day Interest Rate
13.35%
182 - Day Interest Rate
13.88%
1 Year Fixed Note
15.00%
2 Year Fixed Note
16.50%
5 Year Bond
16.50%

Review application over $60m NIB judgment debt case dismissed
The Supreme Court has dismissed a review application seeking to overturn its own decision dismissing a 60 million dollar judgment debt the High Court ordered the National Investment Bank (NIB) to pay Dominion Corporate Trustees Limited in 2013. According to the panel of seven justices of the Supreme Court, the review suit filed by Dominion Corporate Trustees failed to meet the conditions of review. The Supreme Court in June last year overturned a $60 million judgment debt entered against NIB by the High Court in February 2013. This was after NIB appealed the decision of High Court and which was later upheld by the Court of Appeal in October 2015.
GHANA STOCK EXCHANGE UPDATE
As at March 14, 2018
Top Five Gainers
Open Price
Current Price
YTD Return

GHS
GHS
%
SIC Insurance
0.10
0.38
280.00
Societe Generale
0.82
2.02
146.34
PZ Cussons
0.20
0.33
65.00
Ghana Oil Company
2.69
4.08
51.67
Ecobank Ghana
7.60
11.15
46.71

MTN to list on GSE by June 2018 – MTN Group
In fulfillment of the terms of its 4G licence, MTN Ghana – the largest telecommunications company in the country with 15.7million subscribers – has said it will list on the Ghana Stock Exchange by June to offer local investors a share of the booming business. The move is under the terms of MTN Ghana’s 4G licence as agreed with government and the regulator, National Communications Authority (NCA). In its 2017 financial results, the company said a key objective of listing on the GSE is to target a broad base of Ghanaian investors to share in the risks and rewards in ownership of MTN Ghana.
GHANA STOCK EXCHANGE UPDATE
As at March 14, 2018
Top Five Losers
Open Price
Current Price
YTD Return

GHS
GHS
%
Starwin Products
0.03
0.02
33.33
Aluworks
0.16
0.13
18.75
PBC
0.06
0.05
16.67
Trust Bank
0.35
0.30
14.29
HFC Bank
1.39
1.20
13.67

New formula for interest rate calculation to be implemented in April
Commercial Banks in the country are expected to start using a new formula for interest rates calculation from April this year. The Ghana Reference Rate as it is referred to is already being described by industry watchers as revolutionary because it could deal with this age-old problem of lack of transparency in determining interest rates. Sources tell JoyBusiness the introduction has been influenced by challenges with the current module for interest rate calculations and attempts to move towards a more market-friendly and relevant structure. The Bank of Ghana (BoG) is also looking at moving towards a system where there is a laid-down procedure of calculating interest rates among various commercial banks to ensure equity and high level of transparency.
QUOTE OF THE DAY
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffett

Putting a smile on your face is our priority
HERITAGE SECURITIES LIMITED
Mobile: 030 254 6696, 030 290 1144
E-mail: [email protected]
Web: www.heritagesecuritiesltd.com
Investment banking simplified…

15/03/2018

What is the value of a bitcoin? A bitcoin is a form of crypto currency. It is an abstract investment. Bitcoins cannot be weighed as a physical product, neither is it a widely accepted legal tender. However it has monetary value. People buy and trade in the bitcoin investment using a digital system secured by cryptography.
#ThoughtfulThursday

14/03/2018

Your establishment can avoid future misfortunes if it is financially secured. Investing with the Heritage Value Investment Product guards the finances of your establishment. It is important to make these basic sacrifices for your business. Talk to us.
#InvestmentWednesday

13/03/2018

HSL MARKET SUMMARY REPORT
Tuesday, 13/03/2018
TERM OF THE DAY
Preferred Shares
Preferred shares represent an ownership stake in a company. It represents a claim on the company’s assets and earnings. However, as the term suggests, "preferred" shares carry certain advantages. While preferred shares usually do not carry the same voting rights as ordinary shares, they do have priority when it comes to dividends and bankruptcy.
ECONOMIC INDICATORS
BoG Policy Lending Rate
20.00%
GDP Growth Rate (Q3 2017)
9.30%
Inflation Rate (Jan. 2017)
10.30%
Banks Average Base Rate (Jan. 2018)
25.60%
Banks Average Interest Rate (Jan. 2018)
10.40%
USD/GHS
4.4180
GBP/GHS
6.1026
EUR/GHS
5.4417

Energy Bank to offload 50% share on stock exchange
Citi Business News has gathered that Energy Bank will by the middle of this year offload more than 50 percent of the bank’s share on the Ghana Stock Exchange. The bank is planning to hold its Initial Public Offer in June. The move is aimed at raising funds to meet the new capital requirement of 400 million cedis announced by the Bank of Ghana. Citi Business News has also learnt that the lead sponsoring broker is IC Securities. Energy Bank will be the second bank that will go to the stock market this year to raise funds after Access Bank applied to also raise funds from the stock market. Energy Bank Ghana Limited was incorporated in September 2009 as a privately owned institution.
GOG TREASURY SECURITIES
91 - Day Interest Rate
13.35%
182 - Day Interest Rate
13.88%
1 Year Fixed Note
15.00%
2 Year Fixed Note
16.50%
5 Year Bond
16.50%

Ghana may struggle to repay $1.3 billion cocoa loan
Ghana Cocoa Board may struggle to fully pay back loans of $1.3 billion as this season’s harvest will likely be smaller than first anticipated, according to the head of the industry regulator. The world’s second-biggest grower signed for the loans with lenders such as Credit Agricole SA and Natixis SA prior to the start of the annual harvest in October to pay farmers for their beans. Ghana will probably not meet its target of 850,000 metric tons due to dry weather and plant disease, Joseph Boahen Aidoo, Chief Executive Officer of the regulator, said Monday in an interview in the capital, Accra.
BoG signs MoU with FSD Africa to help develop market credit
The Central Bank and FSD Africa (FSDA) have signed a Memorandum of Understanding (MoU) for the implementation of a Credit Market Development Programme in Ghana. This is to enable both bank and non-bank credit providers to expand appropriate credit provision to all areas of the economy, including both individual consumers and businesses. FSDA will provide financial and technical support to the Programme while BOG will lead its implementation, including convening and engaging a range of credit market stakeholders, such as fellow regulators, banks, microfinance institutions, credit unions, digital credit providers and consumer representatives.
GHANA STOCK EXCHANGE UPDATE
As at March 12, 2018
Top Five Gainers
Open Price
Current Price
YTD Return

GHS
GHS
%
SIC Insurance
0.10
0.38
280.00
Societe Generale
0.82
2.00
143.90
Ecobank Ghana
7.60
11.60
52.63
Ghana Oil Company
2.69
4.07
51.30
PZ Cussons
0.20
0.30
50.00

BOST accused of causing financial loss to state in sale of 1.8m barrels of crude
The tussle between the Chamber of Petroleum Consumers (COPEC) and the Bulk Oil Storage and Transportation Company (BOST) has gone a notch higher with the former accusing BOST of causing financial loss to the state. According to COPEC, Ghana lost in excess of 30 million cedis in revenue from a transaction BOST had with an unlicensed company. The losses, the Chamber insists, were recorded at every stage of the value chain from the sale of some 1.8 million barrels of crude oil, to fees for holding the rest of the crude.
GHANA STOCK EXCHANGE UPDATE
As at March 12, 2018
Top Five Losers
Open Price
Current Price
YTD Return

GHS
GHS
%
Starwin Products
0.03
0.02
33.33
Aluworks
0.16
0.13
18.75
PBC
0.06
0.05
16.67
HFC Bank
1.39
1.20
13.67
GCB Bank
5.05
4.72
6.53

New cashew plan to boost revenue by $ 4bn – GEPA
The Ghana Export Promotion Authority (GEPA) is confident that the new reforms it is rolling out in the cashew sector should help it to meet the 10 billion dollars Non-Traditional Exports (NTE) revenue target by 2020. President Akufo Addo in February, launched a new ten year cashew development plan. The plan is largely aimed at improving the production levels of the cash crop and increase the revenue from exporting it. The plan also involves supplying improved seedlings and giving financial support to underperforming cashew processing companies.

Putting a smile on your face is our priority
HERITAGE SECURITIES LIMITED
Mobile: 030 254 6696, 030 290 1144
E-mail: [email protected]
Web: www.heritagesecuritiesltd.com
Investment banking simplified…

13/03/2018

Heritage securities capitalize on its relationships with leading financial institutions and track record of professional excellence to give our clients the best of service.
#HeritageTuesday

12/03/2018

My favourite thing in life doesn’t cost any money. It is really clear that the most precious resource we all have is time. - Steve Jobbs.
#HSMotivate

09/03/2018

*HSL MARKET SUMMARY REPORT*
Friday, 9/03/2018

*TERM OF THE DAY*
Earnings Per Share (EPS)
Earnings per share (EPS) represent the portion of a company's profit, net of taxes, that is allocated to each share of the company. EPS can be calculated by dividing net income earned/ net profit in a given reporting period (usually quarterly or annually) by the total number of shares outstanding during the same term.

*ECONOMIC INDICATORS*
BoG Policy Lending Rate 20.00%
GDP Growth Rate (Q3 2017) 9.30%
Inflation Rate (Jan. 2017) 10.30%
Banks Average Base Rate (Jan. 2018) 25.60%
Banks Average Interest Rate (Jan. 2018) 10.40%
USD/GHS 4.4180
GBP/GHS 6.1026
EUR/GHS 5.4417

*Government to issue a bond of GH¢2 billion to clear debts of UT and Capital bank*
Government is returning to the financial market to raise GH¢2billion to clear debts owed by collapsed UT and Capital banks, the Minority in Parliament has alleged. The opposition lawmakers have served notice they will resist that decision unless the reasons behind the collapse of the two indigenous banks are made public. The collapse of UT and Capital banks in August last year shook the financial market and triggered calls for the Central Bank to take its regulatory role seriously.

*GOG TREASURY SECURITIES*
91 - Day Interest Rate 13.37%
182 - Day Interest Rate 13.89%
1 Year Fixed Note 15.00%
2 Year Fixed Note 16.50%
5 Year Bond 16.50%

*Energy Bank to list on Ghana Stock Exchange*
Energy Commercial Bank has hinted of moves to list on the Ghana Stock Exchange to allow investors to own shares in the bank. The Board Chair of the bank, Dr Jimoh Ibrahim disclosed this in an interview with JoyBusiness at a Customer Cocktail Engagement in Accra. According to Dr Ibrahim, even though the bank is not challenged with raising capital to meet the new Bank of Ghana minimum capital requirement, it has decided to offer an opportunity for Ghanaians to own a part of the company.

*_Simplifying investment banking is our priority_*
*HERITAGE SECURITIES LIMITED*
Mobile: 030 254 6696, 030 290 1144
E-mail: [email protected]
Web: www.heritagesecuritiesltd.com
_Investment banking simplified…_

09/03/2018

What horror movie scared you while growing up?
#FridayFuntime

08/03/2018

Three reasons why you should invest in your 20s;
a. In your 20s, you have a lot of appetite for risk, you can dare into multiple investment options and exploit them.
b. Your 20s is the best time to invest because you have more time ahead of you to make more money. Do not wait longer.
c. In your 20s you are still youthful and very much abreast with trends. You are able to research more on investment tools and options.
#ThoughtfulThursday

07/03/2018

HSL MARKET SUMMARY REPORT
Wednesday, 7/03/2018
TERM OF THE DAY
Time Deposit
A time deposit is an interest-bearing deposit held by a bank or financial institution for a fixed term whereby the depositor can only withdraw the funds after giving notice. Time deposits generally refer to savings accounts or certificates of deposit, and banks and financial institutions usually require 5 days notice for withdrawal of these deposits.

ECONOMIC INDICATORS
BoG Policy Lending Rate 20.00%
GDP Growth Rate (Q3 2017) 9.30%
Inflation Rate (Jan. 2017) 10.30%
Banks Average Base Rate (Jan. 2018) 25.60%
Banks Average Interest Rate (Jan. 2018) 10.40%
USD/GHS 4.4180
GBP/GHS 6.1026
EUR/GHS 5.4417

uniBank takes over ADB
In an unexpected move that could be the beginning of a restructuring of the local banking space, a consortium of financial institutions that control majority shares in agric-focused bank, Agricultural Development Bank (ADB), have pledged their shares, proceeds, entitlement and voting rights to uniBank, a leading local bank. The consortium, led by Belstar Capital–a turnkey project finance and implementation institution–also includes Starmount Development Company Limited, EDC Investments Limited and SIC-FSL. A source close to the deal has confirmed to the B&FT that the shares pledged to uniBank, which totals 51 percent, means uniBank now holds a controlling stake in ADB and with the additional majority voting rights, can now determine the strategic direction of ADB.

GOG TREASURY SECURITIES
91 - Day Interest Rate 13.37%
182 - Day Interest Rate 13.89%
1 Year Fixed Note 15.00%
2 Year Fixed Note 16.50%
5 Year Bond 16.50%

Barclays Bank Ghana targets acquisitions as it rebrands
Barclays Bank has disclosed to Citi Business News plans to undertake major acquisitions in the country as it rebrands to Absa by June 2020. Managing Director of the Bank, Patience Akyianu explains that her outfit has already begun talks with regulators and shareholders ahead of the move. Barclays Africa Group last week announced that it is seeking regulatory approval to change its name to Absa Group that could affect its operations in Ghana. The decision is part of separation arrangement after Barclays PLC ceded parts of its shares in its Africa operations. Patience Akyianu tells Citi Business News the bank is going to be more entrepreneurial in its new approach.

Ecobank sees 22.6% drop in profit in 2017, revenue down by 8%
Ecobank's net earnings dropped by 22.6% to GHS253.64 million in 2017 owing to a drop in revenue, increased cost of risk and deterioration in operating efficiency. Ecobank's revenue fell by 8.3% to GHS1.28 billion as the bank tightened credit conditions as part of measures to improve asset quality. The bank rather increased its holdings of investment securities (mainly risk-free t-bills) by 292.9% to GHS2.52 billion or 27.7% of total assets in 2017 despite significant decline in treasury yields in the last year. This adversely affected interest income, which fell marginally by 0.1% to GHS904.58 million. The bank posted a profit after tax of GHS253.66 million a drop of 22.6% from GHS 327.90 million in 2016.

Top Five Gainers YTD Return

SIC Insurance 280.00%
Societe Generale 136.59%
Ecobank Transnational 56.25%
Ecobank Ghana 52.63%
Ghana Oil Company 52.42%

Cutting 2018 Eurobond will affect government projects
Major government economic policies are set to suffer a setback if demands by the International Monetary Fund(IMF) for Ghana to cut its projected 2 billion dollars Eurobond to 500 million dollars is made to stand— that is a warning from economist, Dr. Lord Mensah. Reuters News agency this weekend reported that a document it has sighted is pressing on government to introduce new taxes, as well as reduce its intended 2 billion dollars Eurobond to 500 million dollars. The decision was reached after a mission visited Ghana last week. Government has a number of projects it is yet to complete including, the One District, One Factory; One Village One Dam, stimulus packages to SMEs and Planting for Food and Jobs, among others.

Top Five Losers YTD Return

Starwin Products 33.33%
HFC Bank 26.62%
Aluworks 18.75%
PBC 16.67%
Access Bank 1.23%

Putting a smile on your face is our priority
HERITAGE SECURITIES LIMITED
Mobile: 030 254 6696, 030 290 1144
E-mail: [email protected]
Web: www.heritagesecuritiesltd.com
Investment banking simplified…

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HSL MARKET SUMMARY REPORT
Market Summary Report as at  Friday 8th December, 2017

Telephone

Address


Heritage House Hse. No. 4 FTA Lane, Anum Tesa Avenue, East Legon
Accra

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
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