A Professor at the Institute of Statistical Social and Economic Research (ISSER), Professor Peter Quartey, has observed that migration could reduce poverty if the right policies and programmes were put in place.
According to him, migration (internal and international) brings enormous inflows – remittances, improved education, health, investment for migrant, migrant businesses, housing etc., adding that they can’t stop people from leaving Ghana, but policies can be put in place to either stop these people from travelling, or compelling them to stay.
Prof Quartey made the observation at the launch of a book entitled ‘The Oxford Companion to the Economics of Africa’ in Accra.
He said more people migrate within Africa than from Africa to Europe and North America. He said, for instance, the number of head porters, popularly known in Ghana as kayayei, leave the Northern Region to the capital city, Accra, in search of greener pastures, could be compelled through policy to stay in that region.
He pointed out that “international migration also brings costs such as loss of skilled labour, cultural and security concerns, etc. Managing migration will reduce the cost and enhance the benefits, and therefore, lead to significant poverty reduction.”
The Vice Chancellor of the University of Ghana and Editor of the book, Professor Ernest Aryeetey, pointed out the book was intended to give Africans and non-Africans living in and out of Africa the opportunity to see what has occurred in the African economy over the last twenty years.
He said: “Reading this book will give people living out of Côte d’Ivoire a fair idea about why the structure of the Côte d’Ivoire economy is the way it is.”
Prof Aryeetey emphasised that the book was not based on a particular research, but from different researches done by different people brought together by the various authors.
The book, he said, is aimed at providing key points for policy makers, what leaders should look out for, and what needs to be done.
“The book does not provide every answer, but it talks about what has happened in a country, and what can happen,” VC added.
Touching on gender inequality, Ms. Abena Oduro of the Department of Economics, University of Ghana blamed Africa’s low growth rate on gender inequality in education.
She said in Ghana, the number of girls in Senior High Schools, not just by region but by districts, was still low compared with that of boys.
The book is intended to provide economic information to academics and students in development economics, policy makers, analysts, the donor community, NGOs, international agencies, research institutes, and think tanks.
Interest Rates & Inflation
The Monetary Policy Committee has decided to increase the Monetary Policy Rate by 100 basis points to 14.5 per cent.
Current Monetary Policy Rate (MPR): 14.5%
Inflation (CPI) for March 2012: 8.80%
Inflation Target for 2012: 8.5%
91-day T/Bill Rate for April 2012: 14.8184%
Foreign Currency Rates
Currency Buying Selling
U.S Dollar 1.7827 1.8134
Pound Sterling 2.8847 2.9346
Swiss Franc 1.9527 1.9860
Australian Dollar 1.8358 1.8681
Canadian Dollar 1.8100 1.8408
Danish Kroner 0.3154 0.3208
Japanese Yen 0.0222 0.0226
New Zealand Dollar 1.4352 1.4605
Norwegian Kroner 0.3108 0.3161
Swedish Kroner 0.2646 0.2691
S/African Rand 0.2310 0.2349
Euro 2.3457 2.3858
BCEAO 274.94 279.64
Dalasi 20.23 20.57
Ouguiya 190.21 193.49
Naira 113.36 115.31
Leone 2,896.29 2,946.13
WAUA 0.3946
Treasury Bill Rates
As of Monday 23 April 2012 to Friday 27 April 2012
Period Discount Rates Interest Rates
91 – Day 13.98% 14.49%
182 – Day 13.11% 14.03%
1 – Yr Note -% 14.50%
2 – Yr Fixed Rate Note -% 14.80%
+ MARKET HIGHLIGHTS
This week in Focus
Shares Bonds
Date Volume GSE Composite Index(GSE-CI) Market Capitalization GH¢ million Value of Coporate Bonds Traded US$ Value of Government Bonds Traded GH¢ million
Monday 30-Apr-12 206,126 1,056.10 51,628.65 0 0
Tuesday
Wednesday 02-May-12 90,141 1,055.23 51,624.24 0 0
Thursday
Friday
Note: The base date for the GSE-CI is December 31, 2010 and the base index value is 1000
Listed Companies
Session Equities Issued Shares (mil.) Market Capt. GH(¢) million NRF Investors’ Holdings % EPS and PE ratios are based on results for the period Div. per share for last fin. year GH(¢) Div. yield % EPS GH(¢) P/E Ratio
3737 AADs
0.98 50.90 11.79 FLYR – 30/12/2011 0.0045 2.65
3737 ACI
36.50 2.92 N/A FLYR – 30/12/2011 0.0000 0.00 -0.0174 n.m.
3737 AGA
381.34 12,965.43 N/A FLYR – 30/12/2011 0.4510 1.33 7.0923 5
3737 ALW
92.05 5.52 FLYR – 30/12/2011p 0.0000 0.00 -0.0378 n.m.
3737 AYRTN
215.00 36.55 1.73 HLYR – 31/03/2012p 0.0013 0.74 0.0148 12
3737 BOPP
34.80 58.46 65.33 3 MTHS- 30/03/2012p 0.0690 4.11 0.3155 5
3737 CAL
248.26 59.58 88.91 3 MTHS- 30/03/2012p 0.0000 0.00 0.1323 2
3737 CLYD
34.00 1.36 3 MTHS- 30/03/2012p 0.0000 0.00 0.0053 8
3737 CMLT
6.54 0.79 0.23 3 MTHS- 30/03/2012p 0.0000 0.00 4.1755 0.03
3737 CPC
2,038.07 20.38 87.65 3 MTHS- 31/12/2011 0.0000 0.00 -0.0105 n.m.
3737 EBG
230.13 699.59 16.64 3 MTHS- 30/03/2012p 0.2400 7.89 0.4039 8
3737 EGL
127.83 43.46 N/A FLYR – 30/12/2011p 0.0160 4.71 0.0842 4
3737 ETI
12,436.76 1,741.15 69.77 3 MTHS- 30/03/2012p 0.0027 1.93 0.0136 10
3737 FML
118.71 261.16 0.06 3 MTHS- 30/03/2012p 0.0400 1.82 0.2201 10
3737 GCB
265.00 503.50 77.44 9 MTHS- 30/09/2011p 0.0700 3.68 0.1926 10
3737 GGBL
211.34 369.84 9 MTHS- 31/03/2012p 0.0000 0.00 0.1060 17
3737 GOIL
210.19 79.87 FLYR – 30/12/2011 0.0140 3.68 0.0415 9
3737 GSR
255.43 702.42 FLYR – 30/12/2011p 0.0000 0.00 -0.0256 n.m.
3737 GWEB
35.00 1.40 19.30 3 MTHS- 30/03/2012p 0.0000 0.00 0.0099 n.m.
3737 HFC
183.66 82.65 7.50 3 MTHS- 30/03/2012p 0.0220 4.89 0.0593 8
3737 MLC
50.10 5.01 0.16 3 MTHS- 30/03/2012p 0.0060 6.00 0.0634 2
3737 PBC
480.00 115.20 90.24 HLYR – 31/03/2012p 0.0088 3.67 0.0489 5
3737 PKL
33.34 2.00 N/A 9 MTHS- 30/09/2011p 0.0000 0.00 -0.0042 n.m.
3737 PZC
168.00 39.76 72.47 9 MTHS- 29/02/2012p 0.0226 1.59 0.0163 15
3737 SCB
19.25 987.59 3 MTHS- 30/03/2012p 3.0500 5.95 3.9312 13
3737 SCB PREF
17.48 9.09 0.0324
3737 SG-SSB
333.89 136.90 52.50 FLYR – 30/12/2011 0.0400 9.76 0.0700 6
3737 SIC
195.65 74.35 3 MTHS- 30/03/2012p 0.0000 0.00 0.1759 2
3737 SPL
74.08 2.96 24.24 3 MTHS- 30/03/2012p 0.0000 0.00 0.0069 6
3737 SWL
21.83 0.44 0.00 3 MTHS- 30/03/2012p 0.0000 0.00 -0.0227 n.m.
3737 TBL
200.00 80.00 N/A 3 MTHS- 31/12/2012p 0.0171 4.29 0.0084 48
3737 TLW
903.85 31,499.07 FLYR – 30/12/2011 0.0000 0.00 0.7250 48
3737 TOTAL
13.98 365.55 62.03 3 MTHS- 30/03/2012p 0.0000 0.00 2.3727 11
3737 TRANSOL
80.00 4.00 9 MTHS- 30/09/2011p 0.0000 0.00 -0.0173 n.m.
3737 UNIL
62.50 518.75 72.29 3 MTHS- 31/12/2012p 0.4800 5.78 0.6581 13
3737 UTB
302.04 96.65 FLYR – 30/12/2011 0.0100 0.12 0.0433 7
