GRi BEF News Ghana 01 - 02 - 2001
World Bank to
focus on Ghana's agriculture
Banker on public on benefits of Sika Card
Gold mine to invest in community Development
World Bank to
focus on Ghana's agriculture
Accra (Greater Accra) 01 February
2001
The World Bank on Tuesday said it
would shift its focus on Ghana from the service and construction industry to
agriculture to reduce poverty.
Mr Peter Harrold, the bank's
country director for Ghana, said in an interview with the Ghana News Agency
that there is the need to re-direct the operation of the bank to the
restoration of growth in agriculture and to promote farmers' education.
He said it is when the farmer is
empowered to produce more for export and for the country to register
macro-economic growth that poverty would reduce.
Poverty reduction he said, should
be tackled with a multi-pronged approach and must be linked with the provision
of social services such as community-based good health policy including the
supply of portable water, adding that growth lies in improvement in
agriculture.
He said there is much growth in
the services, construction and export sectors but not much has been achieved in
agriculture.
"There is much work to be
done to reduce poverty. And we must continue working. We cannot just give money
to the poor but we can empower them to generate wealth", he said.
Mr Harrold said any money the bank
gives to Ghana "is Ghana's and the bank has no control over it. It should
be used as the country desires".
He said the previous government
had elaborate procedures of its use of the bank's money and parliament could
continue to exercise oversight control of the money to ensure accountability in
public accounts.
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Banker on public on benefits of Sika Card
Koforidua (Eastern Region) 01 February 2001
People who carry large sums of money to transact business run the risk of falling victim to armed robbers, Ms Martha Owusu of the Koforidua branch of the Social Security Bank (SSB) said on Wednesday.
She has therefore advised businessmen and traders, especially women, to use the SSB Sika Card to save them from the wrath of armed robbers.
Ms Owusu, who is Supervisor of the Sika Card at the SSB, was speaking in an interview with the Ghana News Agency at Koforidua on Tuesday.
She urged petrol filling stations in the country to acquire Point of Sales (POS) machines to encourage motorists to use the Sika Card to buy fuel and other lubricants.
Ms Owusu explained that the POS would also protect fuel stations from losing their cash proceeds to robbers, adding that even if the Sika Card is stolen, the one who takes it cannot have access to the money because of the password, which only the customer knows.
Ms Owusu said members of staff and students of all the six government assisted second cycle institutions in the Municipality as well as the business community who patronise the Sika Card have expressed satisfaction with the system.
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Gold mine to invest in community
Development
Ntotoroso (Brong Ahafo) 01 February 2001
Normandy (Ghana) Gold Limited, an Australian mining firm operating in the Brong Ahafo region, intends to pump about 1.3 billion cedis annually into a community relations fund for the benefit of the people.
A committee, comprising representatives of the company, the district assemblies and the communities will manage the fund, Mr Akwasi Gyima-Bofa, Community Relations Manager announced at Ntotoroso in the Asutifi district.
He was presenting the company's project proposal at a ''public hearing'' on the proposed gold project.
The project is a 50-50 joint venture between Normandy and Rank Mining Company Limited.
Mr. Gyima-Bota said a total of 150 million cedis has been earmarked as compensation to those whose property would be affected by the project, adding that Normandy would organise investment training for beneficiaries of the compensation to ensure that they use their money profitably.
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Accra (Greater Accra) 01 February 2001
The Ghana Association of Bankers (GAB) on Wednesday January 31, 2001, released the following average inter bank exchange rates of the cedi equivalent to the dollar and derived rates for other major foreign currencies:
Currency Buying Selling
US Dollar 6,786.91 7,010.45
Pound Sterling 9,913.64 10,243.67
French Franc 961.17 992.79
Swiss Franc 4,132.23 4,266.42
Deutsche Mark 3,244.05 3,330.30
Canadian Dollar 4,514.61 4,660.87
Japanese Yen 58.34 60.24
Dutch Guilder 2,861.00 2,955.13
S/African Rand 874.20 901.89
Euro 6,306.39 6,512.60
CFA Franc 9.61 9.93
Naira 67.87 70.10
Ecowas/WAUA 8,979.00 -----------
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Accra (Greater Accra) 01 February
2001
A 178-cedi gain in the share price
of Aluworks Limited (ALW) lifted the GSE All-Share Index on Wednesday and
pushed the change for the year from the negative to the positive zone.
The GSE All-Share Index, the main
market index, rose by 1.31 points from 857.21 to 858.52 points and the change
for the year went up from negative 0.09 to positive 0.06 per cent.
But Aluworks, whose share price is
now 4,850 cedis, posted and traded only 400 shares while bids for its shares
were 6,600.
Trading continued to be sluggish
with only 10,000 shares changing hands, down from 413,200 on Monday when there
was a block sale of SSB Bank shares.
There was positive pressure on
only three of the 22 listed equities with the rest either having no pressure or
negative pressure.
Shares on offer were 853,730, down
from 1.5 on Monday, but demand was up at 727,700 from 548,000.
Market capitalisation was up at
3,656.07 billion cedis from 3,653.59 billion cedis.
On the broader market, there was
only one price change - ALW that gained 178 cedis at 4,850 cedis.
The following are the last prices
of listed equities in cedis:
ABL 550
AGC
18,600
ALW 4,850 +178
BAT
400
CFAO 53
EIC
2,885
FML 850
GBL
1,350
GCB
1,520
GGL
900
HFC
952
MGL
200
MLC
135
MOGL 18,700
PAF
255
PBC
490
PZ 400
SCB
21,500
SPPC 285
SSB 2,080
UNIL 1,600
CMLT 425
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