GSE-CI drops following decline in CAL stock price

The GSE-Composite Index fell 0.41 points from 1,777.33 points to 1,776.92 points, following losses on CAL share price. The resulting year-to-date return was -10.93%.

The GSE financial stock also lost ground, dropping 0.89 points to close trading at 1,652.55 points.

The total value traded was GHS13.55 million, more than twice of the mide-week's trade value of GHS5.45 million. A total of 1.67 million shares changed hands, more than 2 folds the previous session. FML traded the most shares with 95.29% of the volume traded and 99.98% of the value respectively.

FML and SIC climbed, gaining a pesewa each, while CAL saw a decline is its share price.

Courtesy: CAL Brokers Ltd

Standard Chartered Bank $SCB has announced a dividend of GH¢0.0672 per pref. share

In a Press Release issued on 26th Feb. 2013, Standard Chartered Bank, which is listed on the Ghana Stock Exchange announced the following about their dividend payment on their preference shares. (SCB Pref. :GSE);

Shareholding of The Trust Bank (TTB) as Ecobank tries a Takeover

The Trust Bank (TTB), with about 20 networked branches covering Ghana,  is undergoing a takeover by Ecobank which most people including the Coalition for the Protection of Individual and Constitutional Rights are against. Meanwhile, shareholders of TTB, are strongly in favour of the takeover by Ecobank, the leading Pan- African Bank. Who then owns TTB?

The shareholding structure of TTB reveals that, The Social Security and National Insurance Trust (SSNIT), the single largest pension fund in Ghana is the largest shareholder with about 61.11% stake. SSNIT, with reference to the recent pressure from pensioners supports the takeover. 
The second largest shareholder is Compagnie Africaine de Financement et de Participation (COFIPA), a Paris-based investment company owned by West African businessmen. COFIPA has also agreed to the takeover by Ecobank. 

 The Trust Bank which remains one of the fastest growing banks in Ghana gained so much trust from Ghanaians and that reflected in the Total Bank Deposits rising from about 39.17million GH cedis in 2003 to about 239.55 million GH cedis in 2010.


The 3rd largest shareholder of TTB is FMO – The Netherlands development finance company,which has about 10.00% stake. FMO, like other shareholders have voted in favour of the takeover by Ecobank.
The Ghana Reinsurance Organisation remains the second major local shareholders of The Trust Bank. It has about 9.39% stake in TTB making it the 4th largest shareholder. With a stand just like SSNIT, Ghana Reinsurance Org. supports the takeover despite the rumour that the Minister of Finance, Dr Kwabena Duffuor, has blocked the takeover.


Africa Tiger Mutual fund, an investment company registered in Ghana, is the smallest shareholder of TTB. And with 6.00% stake, it stands to be the 5th and the 3rd local shareholder of TTB.


Only time can tell whether the sale of TTB to Ecobank Transnational Incorporated (ETI) would be successful. 

Year Highs & Lows of Fan Milk Limited on Ghana Stock Exchange

After ten (10) months of trading on the Ghana Stock Exchange (GSE), the Year High of Fan Milk Limited (FML) still remains low comparably, and this is not impressive. Last year, Fan Milk Limited recorded a Year high of GHȻ 10.57 by the close of trading on 10th December, 2010. In that same year, the Year Low of FML as at 10th Dec. was GHȻ 5.55, although GHC 2.5 was recorded on 4th & 5th January. Investors obviously had confidence in the ice cream company and kept trading shares day to day. 

Fan Milk Limited began the year, 2011, with a Year High of GHȻ 2.45 (i.e. on 4th January) and ten (10) months down the road, the Year High was recorded as GHȻ 3.11 (i.e. on 2nd November). October ended with a little tumble of FML share price but November brought a recovery smile as investors gained confidence in the stock. Trading of FML shares on the GSE have been consistent since last week and this is good for the market.

The ice cream company still remains the leading producer of ice cream in the Ghanaian market. Monopoly, people call it, but I call it Supremacy. FML is currently trading at GHȻ 2.53 per share.