Access Bank Ghana (+0.33%) was the sole gainer at today’s session, while SIC Insurance (-6.67%), Cal Bank (-0.96%), Fan Milk Ghana (-8.33%) and Standard Chartered Bank (-9.36%) recorded losses. Consequently, the manufacturing index dropped by 3.35% to close at a -9.85% YTD return while the financial index declined by 2.65% to close at a 1.91% YTD return.

Trading activity declined with 21,320 shares valued at GH¢41,163 changing hands from 267.931 shares valued at GH¢2,757,417 in the previous session. Market sentiment weakened with the aggregate bid/ask ratio closing at 0.2:1 from 0.5:1 in the previous session, resulting from selling pressure in Enterprise Group Limited (EGL), GCB Bank (GCB), Republic Bank Ghana (RBGH), Intravenous Infusions Limited (IIL) and Camelot Ghana Limited (CMLT).

We expect trading activity to pick up tomorrow as companies continue to release third quarter earnings results.

Company in Focus

Scancom PLC (MTN Ghana; GSE: MTNGH)

Cross-network mobile money transactions represent 12 percent of products and services offered by the Ghana Interbank Payment and Settlement Systems (GhIPSS), just four months after its introduction. This performance shows its growing patronage and the general uptake of electronic payments in Ghana.

GhIPSS introduced the cross-network mobile money transfers, otherwise referred to as Mobile Money Interoperability (MMI), in May this year. By end of the second quarter, MMI accounted for only 3 percent of its products. But this has grown significantly to 12 percent by end of the third quarter, according to the GhIPSS 2018 Quarter-3 report.

MMI has upstaged ACH Direct Debit, gh-link transactions as well as GhIPSS Instant Pay (GIP).

The growth in mobile money interoperability is likely to affect the long-term growth forecasts in MTN’s subscriber growth and mobile money growth.

Gainers & Losers

Market Indices

Top Trades by Volume

Interbank Exchange Rates