US delegation meets Ghanaian business executives

Divestiture the way forward for Goil, says former MD

All-Share Index continues slow rise

Accra (Greater Accra), 8^th February 2000

The 20-member US private trade and investment delegation led by the Reverend Jesse Jackson, U.S. special Ambassador to Africa, on Monday held one-on-one business discussions with about 40 Ghanaian business executives.

The discussions, which form part of the schedule of the American-based Rainbow/Push Coalition Investment and Trade Mission to Ghana, was to explore avenues of collaborative investment between Ghanaian and American businesses.

The officials of the Ghana Investment Promotion Centre briefed the U.S. delegation on existing investment opportunities and the enabling environment which makes for sustainable and profitable foreign investment.

Other meetings and roundtable discussions were held between the American Chamber of Commerce and members of the American industrial sector and their Ghanaian counterparts.

The one-on-one discussions, which were mainly between industrialists, information technology experts, international entertainment promoters, insurance and financial sector executives, were to foster greater co-operation between the U.S. and the Ghanaian private sector.

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Tamale (Northern Region), 8^th February 2000

Lt. Col. Abdulai Ibrahim (rtd), former Managing Director of Ghana Oil Company (GOIL), has noted that the proposed divestiture of the company is the only way to improve the production level and enhance the company's international image.

"Restructuring is for the better of the company. We are in changing times and we must always look ahead to be able to compete with other companies in the industry", he stressed.

Addressing an end-of-year reception for staff of the company in Tamale, Col. Ibrahim said GOIL as the only state-owned company in the industry, has to introduce innovations like partnership to enable it to stay in business.

Mr. Cyril Opon, Northern Sector Zonal Manager of the Company, assured workers who will be retrenched as part of the divestiture programme that they would get a good package.

He said the company would build new service stations to improve its operations in the Northern, Upper East and Upper West Regions.

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Accra (Greater Accra) 8^th February 2000

The Ghana Stock Exchange All-Share Index continued its slow rise with a 0.08 gain on Monday to 742.78 points thus pushing the change for the year to 0.90 per cent.

Twenty equities offered a total of 486,210 shares as against 71,200 shares demanded by eight equities.

Shares offered and demanded on Friday were 1.7 million and 1.3 million respectively.

Total shares traded came down with a bang from 1.2 million to 18,600 shares from the sale of shares of six out of the 22 listed equities. The exchange saw a block sale of SSB bank shares last Friday.

Market capitalisation opened the week up by a small margin from 3,215.74 billion cedis to 3,215.85 billion cedis.

In the broader market, there was only one price change, a gainer, as negative pressures dominated 14 equities.

Guinness Ghana Limited (GGL) opened the week higher at 966 cedis with a one-cedi gain.

The following are the last prices of listed equities in cedis:

ABL 470

AGC 18,700

ALW 2,489

BAT 466

CFAO 38

EIC 1,880

FML 935

GBL 1,450

GCB 770

GGL 966 +1

HFC 750

MGL 200

MLC 150

MOGL 14,500

PAF 295

PZ 800

SCB 19,200

SPPC 150

SSB 1,988

UNIL 1,850

UTC-E 125

CMLT 420

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