GRi BEF News Ghana 06 - 08 - 2001

Accra Bourse index in slight gain

Trade Minister Inaugurates Three Boards

Many private business not registered

Accra Bourse index in slight gain

Accra (Greater Accra) 06 August 2001

The Ghana Stock Exchange (GSE)-All Share Index, the benchmark measure, gained 2.34 points to finish higher at 937.71 points on Monday after it lost 90.41 points on Friday, but the market was still dominated by bearish sentiments.

Aluworks lost a whopping 4,000-cedi loss to pull it down to 935.37 points on

Friday. Change from January to date is up 9.29 per cent.

Trading was dull with only 13,400 shares changing hands compared to 33,900 shares on Friday.

There were two price changes - all positive. ALW gained 100 cedis to close at 4,100 cedis and British American Tobacco was up five cedis at 555 cedis.

Market capitalisation was up modestly 3,828.94 billion cedis from 3,824.42 billion cedis. Below are the closing prices of listed equities:

ABL 630

AGC 18,500

ALW 4,100 +100

BAT 555 +5

CFAO 60

EIC 2,890

FML 1,000

GBL 1,300

GCB 1,550

GGL 900

HFC 952

MGL 240

MLC 130

MOGL 19,700

PAF 550

PBC 450

PZ 640

SCB 21,000

SPPC 350

SSB 2,300

UNIL 1,820

CMLT 425

GRi../

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Trade Minister Inaugurates Three Boards

Accra (Greater Accra) 06 August 2001

Members of the reconstituted boards of three companies under the Ministry of Trade and Industry were on Friday asked to resuscitate and revamp their enterprises to be self-supporting and profitable.

The Minister of Trade, Dr Kofi Konadu Apraku, who made the call at the inauguration of the boards at a joint ceremony, said they should adopt innovative ways that would generate employment and contribute positively to the growth of the economy.

The three boards are for the Ghana Trade Fair Company (GTFC) to be chaired by Mr Eddie Imbeah-Amoaku, the National Board for Small Scale Industries (NBSSI) under the chairmanship of Mr Jude Arthur and the Ghana National Procurement Agency (GNPA), which has Nana Akwasi Kuma as chairman.

The Minister said the role of NBSSI was important, especially in the country's quest to make Small Scale Enterprises the cornerstone of the industrial development process.

He said NBSSI could become a focal and important source of credit to small enterprises if innovative and good managerial efforts are made to reverse the current situation.

Dr Apraku said although the German government was ready to increase its support for the programmes of the board, she was currently unhappy with its situation now.

Under the German government assistance, the Board was able to provide 1.5 billion cedis to 43 businesses.

GRi../

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Many private business not registered

Takoradi (Western Region) 06 August 2001

The non-registration of companies coupled with improper book-keeping, are major constraints limiting the access for credit and loans by small and medium scale enterprises, Margaret Nsiah, Managing Director of Guest House Maggie has said.

Closing a 10-day seminar organised by EMPRETEC Ghana foundation at Takoradi on Friday, she said "many individuals who have established businesses, have not registered them and those who have done so, do not employ qualified staff to assist in the running of their businesses".

Madam Nsiah noted that the situation, apart from halting the expansion of the business, also limits efficiency.

Mr. Hubert Dake, the Takoradi branch Manager of ECOBANK, advised entrepreneurs to streamline their operations in order to generate wealth for the economy and to expand their businesses.

Mr. Kingsley Deteah, Western Regional manager of EMPRETEC said the seminar was aimed at strengthening business competitiveness and increase awareness about business opportunities.

He advised the participants to develop long-term plans, to sustain their businesses.

GRi../

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