Ghana, Denmark sign 40-million-dollar loan agreement
Market index moves up in mixed trading
Ghana, Denmark sign 40-million-dollar loan agreement
Accra (Greater Accra) 24 Aug. '99
Ghana and Denmark on Monday signed a 40-million-dollar credit facility for the financing of development projects from 1999 to 2001.
The financial agreement is a commercial export credit as well as grant development assistance. It will be used to pay interest on Danish export credits for the delivery of Danish capital goods and related services for development projects in Ghana.
Mr Kwame Peprah, Minister of Finance, signed for Ghana while Mr Jan Trojberg, Minister of Development Co-operation of Denmark, signed for his country.
The projects to be finance under the loan, according to Mr Peprah, would be those involving a Danish supplier and a buyer from Ghana.
The projects would be determined by the Ministry of Finance and presented to the Danish International Development Agency (DANIDA).
The selected projects would go through careful analysis to ensure that they lend support to Ghana's socio-economic development while maintaining its cost effectiveness.
Regional airport development and water projects are to receive priority.
GRi../
Market index moves up in mixed trading
Accra (Greater Accra) 24 Aug. '99
The market index of the Ghana Stock Exchange (GSE) opened on Monday stronger in mixed trading that saw total shares traded being hit by downward pressure.
The All-Share Index, which went up, down and up again last week, closed trading with a 5.83-point gain at 789.29 points. It closed last week at 783.46 points.
Shares traded fell by more than half from 186,500 shares to 81,600 shares while offers were up at 1.5 million shares from Friday's 1.3 million shares.
Bids were down by about half at 143,700 compared to 284,200 shares demanded on Friday.
Market capitalisation closed trading slightly higher at 3,281.97 billion cedis from 3,272.80 billion cedis.
In the broader market, there were three price changes - two up and one down.
Ghana Commercial Bank (GCB) opened the week stronger with a 50-cedi gain at 900 cedis while British-American Tobacco Company (BAT) gained 20 cedis to close trading at 400 cedis.
The only looser was Paterson Zochonis (PZ) which lost 10 cedis at 830 cedis.
The following are the last prices of listed equities in cedis :
ABL 399
AGC 18,700
ALW 2,500
BAT 400 +20
CFAO 40
EIC 1,990
FML 1,249
GBL 1,550
GCB 900 +50
GGL 1,005
HFC 750
MGL 220
MLC 180
MOGL 16,000
PAF 290
PZ 830 -10
SCB 21,060
SPPC 180
SSB 2,000
UNIL 1,950
UTC-E 125
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