GRi BEF News Ghana 18 - 12 - 2000
Extend services - Credit Unions urged
Extend services - Credit Unions urged
Mim (Brong Ahafo) 18 December 2000
Mr Bazaanah B. Fiddlis, Supervising Manager of the Credit Union Association (CUA) of Ghana in charge of Technical Services, on Saturday urged credit unions not to limit their operations to workers in the formal sector alone.
He said extending their services to the communities and contributors outside the formal sector would help sustain the unions.
Mr Fiddlis was addressing the annual general meeting of the Mim Timber Company (MTC) Employees Co-operative Credit Union Limited at Mim.
He asked the Union to introduce a deposit guarantee or stabilisation fund for interested members to contribute to upgrade facilities.
Mr Fiddilis said CUA has 225 societies with membership of 25,000 and 50 billion cedis in assets.
Mr Isaac Oppong-Manu, Deputy Brong Ahafo Regional Co-operative Officer, said the society made a profit of 47.8 million cedis as at the end the 1999-2000 financial year.
In the 1998-1999 fiscal year, the union clocked a little over 40.2 million cedis as net surplus, he said, adding that the projected difference in this year's accounts, is a progress in its operations.
He said total income stood at 239.6 million cedis as against 183.8 million cedis last year.
The Regional Co-operative Officer said even though total income for this year outstripped that of last year, the retrenchment of some workers greatly affected the union's operations.
Mr. Kwame Dei, Chairman of the Board of Directors, appealed to workers to join the union for financial assistance.
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Ahantaman Rural
Bank makes 234.7 million cedis profit
Agona-Nkwanta (Western Region) 18 December 2000
The Ahantaman Rural Bank Limited,
made a profit of 234.7 million cedis last year, representing an increase of 42
percent over 1998.
Mr Peter Kwame Ansah, Board Chairman,
who announced this at the 13th Annual General Meeting of the bank on Saturday,
said total investment in treasury bills increased from 1.8 billion cedis to 2.4
billion cedis, last year.
"Shareholders were paid a
dividend of 20 cedis per share for the same year, and this amounts to 58
million cedis."
Mr Ansah said the bank spent 10.6
million cedis in scholarships and grants to 84 students in senior secondary
schools and Universities.
He said 5,550 individuals;
companies and groups benefited from loans and overdrafts to the tune of 2.35
billion cedis.
Mr. Ansah appealed to cottage
industries to save with the bank to enable them benefit from such packages.
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Accra (Greater Accra) 18 Dec. 2000
The Ghana Stock Exchange All-Share Index inched up on Friday as the bourse continued its under-par performance during the year, although the change for the year is firmly in the positive zone.
The change for the year is 17.53 per cent compared with last year's close of negative 15.22 per cent.
Pressure on the stocks on Friday was mixed while there was one gain (SPPC) and one loss (PAF). SPPC gained three cedis at 260 cedis and PAF lost one cedi at 267 cedis.
The All-Share Index inched up by 0.02 points to 865.22 points from Wednesday's close of 865.20 points.
Total shares traded were down by more than half at 21,500 from 50,000 but offers and bids were up by a large margins. Bids were up at 271,900 shares from 186,600 and offers were 991,670 from 549,990
Market capitalisation was slightly higher at 3,668.75 billion cedis from 3,668.72 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 630
AGC 18,600
ALW 4,205
BAT 400
CFAO 51
EIC 2,600
FML 900
GBL 1,350
GCB 1,500
GGL 990
HFC 952
MGL 200
MLC 145
MOGL 18,600
PAF 267 -1
PBC 503
PZ 400
SCB 21,500
SPPC 260 +3
SSB 2,050
UNIL 1,670
CMLT 425
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