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Thinking Outside The box (Overseas Investment Series)
Rank: Elder Joined: 2/10/2007 Posts: 1,587
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@Mzee Young
When is the Ghanian stock exchange likely to embrace the CDSC trading? After what I went through in Uganda I am scared to trade anywhere where they are only dealing in certificates.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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INVESTING IN GHANA STOCKS 17FAN MILK OF GHANA Ghanaian food products group Fan Milk, the star performer of the local stock exchange in 2009, expects a 20 percent increase in profits this year and further growth as oil output boosts the West African economy from 2011 onwards, its chief executive told Reuters. "It is 20 percent growth in the bottom line versus 2009," Chief Executive Jesper B Jepessen said in an interview on the margins of an investor conference in the capital Accra. Fan Milk saw its shares gain 23 percent over 2009 while the Ghanaian stock market as a whole fell 47 percent, the worst performing bourse in Africa. Fan Milk's share price stands at 7.05 cedis, up around 27 percent so far this year. Fan Milk's net profit in 2009 was 15.156 million cedis. The group, which produces beverages, ice cream, yoghurt and candies for an expanding consumer market, last week reported first-quarter net profit up 21 percent and Jepessen forecast further growth over the year. Shares quoted on the Ghanaian stock exchange tend to suffer from a lack of liquidity because the bulk of the market is in the hands of SSNIT, a Ghanaian state pension trust which rarely shuffles its portfolio. However Jepessen said liquidity had not been a special problem for the firm's listing. Asked whether the group would consider a share split -- a move being mulled by some other companies on the exchange to help attract new investors -- he said: "It could be on the agenda, but I cannot make any commitment on this." Ghana is due from late 2010 to join the club of oil-producing nations, a windfall which the central bank this week forecast would lead to 20 percent growth in gross domestic product next year -- one of the highest growth rates in the world. "Any GDP growth will benefit our growth," said Jepessen. "We are expanding all the time." He added group was in a strong enough financial position to fund current expansion plans while not ruling out recourse to some medium-term financing. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@Mzee Pkol, You would have gotten your answer in my previous posts and my communication with you. Nonetheles Ghana is well ahead of Uganda,All financial counters have been fully de-materialized, and the exercise for other counters will be completed in Sept 1 2010. For freshers like you if you open a CSD account as am writing to you, your shares will be credited to your CSD account rather than paper certificates, but they are taking time to convert previous issued certs to electronic holding in CSD. But be aware it takes several weeks for CDS to be account to be opened, so any shares bought for you will be held in trust with your broker and credited when your CSD account is opened. My past certificates in GCB and SCB has been de-materialized and credited to my CSD account. What you should actually worry about is dividend in Ghana cedis. The solution is to get a Cedi bank account because if Ghana cedis is posted to your Kenyan address it is a worthless paper in Kenya. Even if you are a speculator, at times you may like to pick up the dividends . Crediting of dividend by EFT will commence Jan 1 2011. I have earlier on given a guide on how to open a non resident account in Ghana. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Mzee Kpoli, (1) Please do me a favour, from your experience give me a graphic details of the process of opening a CDSC account in Uganda? Is joint account allowed , as I would like to open a joint one with my wife just as the one we have in Kenya. (2)Which Stock broker are you using ? I am looking at Crane Stockbrokers . I hope to do that next year, by then things would have stabilized The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Many thanks Mzee Young. It is much clearer to me now. The process of changing from paper certs to CDS seems to be taking long everywhere including Uganda where they have started with Stanbic Uganda. My next frontier is the Ghanian market. I was initially thinking of Angola, but communication will be a big deal, so I will try to stick to what I know.
Based on your previous post about details of the brokers, I will give them a call and then start the process. Thanks
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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@Mzee Young,
Now it is much easier to open a CDS account in Uganda. The best brokers are African Alliance - They have offices in J'burg, Kenya, Uganda, Botswana, Zambia and possibly some other West African Countries.
Their contact is +256 414 253 753/4. Ask for Grace (never mind he is a man) or William. They will give all the details. I opened mine with a passport. I visited their offices about a week ago after attendning Stanbic Ug AGM.
They are fantastic people
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Mzee Pkoli Thanks a lot for the info. I use databank of Ghana for both buying shares and mutual funds. It is a very big company and they move personnel around. They have a well organized customer service of not less than 8 personnel at a time. Please check for details in www.databankgroup.com. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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@Young
Thanks I will browse the website for further info and work on a 5 Yr business plan to invest in Ghana. I am sure there will be stellar growth in that country.
Nice time..Talk to African Alliance then you can make a decision
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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INVESTMENT IN GHANA STOCKS 18TOTAL PETROLEUM Total Petroleum Ghana Limited, formerly Mobil Oil Ghana Limited, is a Ghana-based company engaged in the marketing of petroleum and allied products. The Company operates in the retail network, mining and exploration, marine, fleet and transport, agriculture, and manufacturing and construction sectors. Its products include fuels, such as unleaded premium fuel, diesel, kerosene and total Effimax fuel; bitumen; industrial, motor and marine lubricants; car-care products, such as windshield, radiator, engine and cockpit cleaners, coolants, brake fluids, radiator sealant, auto plus shampoo, multifunctional fluid and ambience perfume; insecticide aerosol and mosquito coils, as well as aviation fuel. The Company also provides car and windscreen wash, and lubrication services, as well as oil, water and brake fluid level checks. It has 212 service stations in all 10 regions of Ghana, nine Bonjour shops and 43 kiosks. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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@Young,
I will need to look at the annual accounts of Total Petroleum and anumber of listed companies. I hope they are easily available at the company's websites. Atleast for 5 years
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@Mzee Kpoli, Take your time and do your due deligence I am just giving an overview of the sector final decision on which counter to buy depends on you the broker band your risk appetite. Also beyond my broker databankgroup, you can choose other brokers a full list of which you can find in www.gse.com.gh or www.stockforumghana.com My position in Ghana market are GCB, GGL, SCB and Fan milk. Just be aware Ghana and your neighbouring Uganda are open for business. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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END OF GHANA IN INVESTMENT INFOI want to start a new series of online trading in one of the advanced markets my thought goes to various markets :- Canada ? US ? Hong Kong / China ? Thailand ? Singapore? Australia / New Zealand ? Or do I still dwell in Africa :- Nigeria ? Kenya ? South Africa ? Botswana ? I leave it to Wazuarians to decide but I hope to start the thread before monday.My mind goes to emerging Hong Kong / China market or the Oceania (Australia /New Zealand), but the US /Canadian markets are the mother of them all. Your opinions will be takern into account. Have a nice week end. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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STARTING ONLINE STOCK INVESTMENT HONG KONGHong Kong market is very important because it allows investors to acces good companies in chinese market, as it is not possible for non China resident to access SHANGHAI and mainland china market directly. During the world economic melt down, the Hang Seng Index plummeted from 22,000 to 10,200, it is currently at 20,000 showing the pace of recovery of the market. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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There are specific requirements to open an online account in Hong Kong market :- - Proof Of Identity. A certified (by public notary) copy of the data page of your international passport will suffice. - Proof Of Residence. The physcical addresss of your place of residence is required. For example No 13 Wakiso Street, Westlands, Nairobi, Kenya. This is different from your postal address (P. O. BOX). Your a required to submit a certified (by public notary) copy of your utilty bill for the past 3 months (water, phone, electricity) which should be in your name and reflect precisely that address.Be aware that if the utility bill is in the name of your landlord, it will not be accepted. - Source Of Funds . You are required to submit a bank statement preferably (in convertible currency) and possible a photocopy of your work / business identity card, and where possible your pay slip for the past three months. - You are to download and fill the online application form form and have your signation certified by public notory. A public notary is a legal practioner in private practice that have fulfilled the stipulated requirement to be qualified as public notary. The public notary must app;ly his seal/stamp and signature where necessary. Some brokers require you to attach the business card of the piublic notary to complete the documentation. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Member Joined: 2/20/2007 Posts: 359
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@ Muganda and Young
Shouldn't it suffice if I could find a counter (read company) or fund that invests in real estate and buy what is not so foreign to me (shares, units)?
Funny, today I was researching same in the Kenyan mkt. Was wondering if we have investment groups doing real estate n housing development as LTD Cos or as cooperatives or whatever other legal form.
... didnt find much except NACHU - nachu.or.ke (anyone using them) whose website is not too informative.
Can a ltd co or investment group acquire mortgages in kenya for buying to let in the medium to lower income category? My online research has not found any innovative products in this direction.
Young, any ideas?
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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USEFUL SITES FOR HONG KONG TRADING (a) Stockbrokers I Use. (i) KGI www.kgieworld.com (ii) TAIFOOK www.taifook.com(b) The Stock Exchange Website www.hkex.com.hk(c) Stock Research Site www.aastocks.com/EN NOTE: Please when you open the sites change the language display from Chiness to English.THE RESEARCH AND ANALYSIS OF THE ABOVE STOCK BROKERS SITES ARE ALSO VERY INFORMATIVE AND USEFUL The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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WRAPPIONG UP THE ACCOUNT OPENING PROCESS Follow the guidance of your chosen broker but as a guide (i) Submit your completed forms with the accompanied documentation to the given address. (ii) It is advisable to send your address by courier or speed post and find out from your agent the expected time your parcel will arrive. (iii Send a mail to customer service to confirm the receipt and status of your application. Most cases if there is any outstanding issue you will be contacted through your given e-mail or phone. (iv) If All is okay your account details (userid / password) and a welcome pack will be sent to your residential address by courier. Most Customer services have 24 hour help line. YOU SHOULD NOT BE RESTRICTED TO MY STOCKBROKER, HONG KONG HAS NOT LESS THAN 150 STOCKBROKERS, BUT I ONLY WRITE FROM MY EXPERIENCE. SOME DO NOT ACCEPT NON RESIDENT FOREIGNERS. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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FUNDING YOUR ACCOUNT ETC Details is in your brokers site and in addition as a client you can always contact the customer service. Be aware you will be required to fax your pay in slip to your broker as evidence of payment. Minimum Amount To invest is USD 1,500 or 10,000 HNK$. This also depends on the lot size (to be explained later) of ther stock you want to buy The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Hong kong stock symbols is designated by 5 digits codes. Here are a few examples :- Petrochina 00857 Sinopec 00386 Real Gold 00246 HSBC Bank 00011 ICBC BANK 01398 The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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THE HANG SENG INDEX (HSI)This is the standard benchmark in Hong Kong market. The leading zeros on the stock code can be suppressed CODE COUNTER3988 BANK OF CHINA 23 BANK OF E ASIA 3328 BANKCOMM 2388 BOC HONG KONG 293 CATHAY PAC AIR 939 CCB 2600 CHALCO 1 CHEUNG KONG 2628 CHINA LIFE 144 CHINA MER HOLD 941 CHINA MOBILE 688 CHINA OVERSEAS 836 CHINA RES POWER 291 CHINA RESOURCES 1088 CHINA SHENHUA 762 CHINA UNICOM 267 CITIC PACIFIC 2 LP HOLDINGS 883 CNOOC 1199 COSCO PACIFIC 330 ESPRIT HOLDINGS 2038 FIH 101 HANG LUNG PPT 11 ANG SENG BANK 12 HENDERSON LAND 3 HK & CHINA GAS 6 HK ELECTRIC 388 HKEX 5 HSBC HOLDINGS 13 HUTCHISON 1398 ICBC 494 LI & FUNG 66 MTR CORPORATION 17 NEW WORLD DEV 857 PETROCHINA 2318 PING AN 16 SHK PPT 1 83 SINO LAND 386 SINOPEC CORP 19 SWIRE PACIFIC A 700 TENCENT 4 WHARF HOLDINGS The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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