Ghana’s stocks were the worst in the world in Jan-Mar 2019 - Report

Ghana’s stocks were the worst in the world in Jan-Mar 2019 - Report

Information available to YEN.com.gh shows that Ghana’s stocks lagged behind those of the rest of world from January to March 2019.

Pulse.com.gh reports that this was because of the depreciation of the cedi, as well as a dry up of investors in local institutions.

The cedi has depreciated by some 19% in 2019, making it one of the worse performing currencies in the world.

READ ALSO: NDC man 'runs' to Martin Amidu over government's GHc3 million contraceptive contract

According to Bloomberg, the Ghana Stock Exchange Composite Index has lost more than 14 percent this year, making it the laggard in dollar terms among 94 global equities benchmarks.

The index advanced for a first day in three on Friday, gaining 1.4 percent to 2,415.2 at 2:34 p.m. in the capital, Accra.

Ghana’s impending exit from a four-year International Monetary Fund program in April 2019, has unnerved some foreign investors, whose sale of the country’s assets have beaten the cedi 11% in 2019, Bloomberg reports.

READ ALSO: GES hot as new teachers issue threats over unpaid salaries

Ghana Nti: I can't think far about Ghana's energy sector| #Yencomgh

Subscribe to watch new videos

Do you have a hot story or scandal you would like us to publish on YEN.com.gh? Please contact us on Facebook or Instagram now!

Source: Yen

Related news
Prostitutes, junkies take over final resting place of late Atta-Mills

Prostitutes, junkies take over final resting place of late Atta-Mills

Prostitutes, junkies take over final resting place of late Atta-Mills
YEN.com.gh
Mailfire view pixel