Tag: databank group
Traders say most banks in Ghana are attractively valued as most are trading below their book values and provides a good entry point for investors.
Ghana’s external accounts have exhibited immunity to the COVID-19 pandemic strains, but its domestic conditions have weakened. That’s according to Databank Group. This comes as the Bank of Ghana disclosed that it’s Composite Index of Economic Activity contracted by 10.6 per cent in May. The Index had fallen to a negative growth of 2.2 per cent in March for the first time since 2016. Joining CNBC Africa explore the peculiarities of Ghana’s macro-economy as it moves to cushion the impact of the COVID-19 is Courage Kingsley Martey, Senior Economist at DataBank Group.
Ghana’s headline inflation rose to 11.3 per cent in May, straying further away from the country’s inflation target band of 8.0 per cent plus or minus two. This comes as the World Bank says that Ghana’s economic growth is expected to slow down to 1.5 per cent this year as agriculture commodity exporters like Ghana have suffered from collapse in export demand as well as disruptions to supply chains. Courage Kingsley Martey, Senior Economist at Databank Group joins CNBC Africa for more.
As Ghana deploys tactics to curb community spread of COVID-19, Alex Boahen, Head of Research at Databank Group joins CNBC Africa to discuss the impact on Ghana’s financial markets.