Stock Index jumps, although volumes low
Tourist Board urges private sector to produce quality
goods
Accra (Greater Accra) 30 April 2002- The Ghana Stock
Exchange (GSE) All-Share Index jumped by 5.2 points on Monday to open the week
up at 1,041.05 points as against 1,035.85 at the previous close on Friday.
There were five price changes, all positive, although only
116,200 shares changed hands. Sam-Wood Limited (SWL), which last Wednesday
became the 23rd equity to enlist on the exchange made an eight cedis gain to
close at 270 cedis, Aluworks was up 100 cedis at 4,300 cedis, British American
Tobacco appreciated by 31 cedis at 751 cedis.
Ghana Commercial Bank was richer by two cedis to close at
1,787, SSB gained 46 cedis at 2,900 and Super Paper Products Limited was up one
cedi at 366 cedis. Change for the year was up at 8.90 per cent. Market capitalisation stood at 4,054.84
billion cedis.
The following are the closing prices of the equities in
cedis:
ABL 327
AGC 18,800
ALW
4,300 +100
BAT 751 +31
CFAO 60
EIC
3,500
FML
1,000
GBL
1,000
GCB
1,787 +2
GGL 910
HFC 950
MGL 250
MLC 147
MOGL 18,810
PAF 750
PBC 450
PZ
1,210
SCB 20,500
SPPC 366 +1
SSB
2,900 +46
SWL 270 +8
UNIL 2,916
CMLT 430
GRi…/
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Aburi (Eastern Region) 30 April 2002- Mr Martin Wereko,
Acting Director of the Ghana Tourist Board, on Monday asked private sector
operators to produce quality goods and charge reasonable prices for them.
He said in spite of the numerous problems private sector
operators faced, the Board would not compromise on standards of facilities and
service delivery since consumers of Ghanaian products were from markets in
Europe, America and Asia, demanding the highest of standards.
Mr Wereko made the remarks in a speech read for him by Ms
Abigail Tagoe, Marketing Manager of the Board, at the opening of a six-day
biennial African regional conference on fair trade on Monday, at Aburi in the
Eastern Region.
About 50 delegates in small and medium scale enterprises in
Africa, Latin America and Europe and other international trade organisations
are attending the conference, which is being held under the theme: "Fair
Trade and Standardisation in Diversity".
The International Federation of Alternative Trade (IFAT), a
global network of Fair Trade organisations, with thousands of members in 50
countries, that work to improve the livelihoods of people in developing
countries and to change unfair structures of international trade are organising
the conference. The conference would explore further ways in obtaining fair
trade for people in developing countries.
Mr Wereko noted that the survival of the tourism industry in
Ghana depended on small-scale businesses but indicated that they did not have a
fair access to medium and long-term concessionary loans because of their
inability to provide collateral security.
"Although they have to mobilise the relevant capital at
high interest rates to operate seemingly successful businesses, they are
expected to compete at the same marketplace together with those who benefit
from packages of the 'major world economic groupings'", Mr Wereko said.
He said the Board would encourage the private sector to join
the Ghana chapter of the IFAT and benefit from its initiatives for the good of
the tourism industry in particular and the economy of the country as a whole.
Mr Semshak Gompil, an executive of IFAT, noted that fair
trade did not only seek fair prices for products from developing countries, but
also the development of both producer and buyer nations and emphasised on a
kind of long term relationship, capacity building and partnership for mutual
benefits.
He said currency differences, language and communication
barriers and limitations made it difficult for African countries to trade with
each other and said regional integration with enhanced telecommunication
facilities and the adoption of a common currency would reduce the difficulties
of intra African trade.
GRi…/
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