Business in Bawku on the decline
Bawku (Upper East) 05 February 2002 - Bawku, one of the brisk commercial towns in Northern Ghana, has suffered major economic setback in recent times due to series of factors, the main one being instability.
A Ghana News Agency survey showed that the other factor responsible for the decline in commerce in Bawku is that it has no central market. An old one was demolished about five years ago for re-construction under the urban three projects.
However, the execution of the project suffered a setback due to the death of the contractor in a motor accident shortly after work begun. Virtually every part of Bawku is now a market with mini-markets dotting all parts of the town the people deem appropriate.
Ironically, two other markets near Bawku - Bazua and Zebilla - are growing at a faster pace with traders from the Northern Region, Upper West and some parts of the Brong Ahafo Regions patronising them.
An interview with the business community in Bawku revealed that some businessmen and women from Bawku have re-located their businesses to other parts of the region notably Bolgatanga and Zebilla.
While some traders felt secure doing business in Bawku, others said they did not, citing the general insecurity and the decline in commercial activities as their reasons.
The decline in business is further reflected in the assembly's revenue mobilisation. It collected 507.2 million cedis as against an estimated revenue target of 749.3 million cedis at the end of December 2001.
The District Co-ordinating Director, Mr. Ibrahim Alhassan attributed the assembly's plight to looting of its coffers by revenue collectors in the wake of the conflict last December.
GRi../
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Turkey’s
economic interest in Ghana goes up
The volume of trade between the Republic of
Turkey and Ghana increased tremendously last year and crossed the one hundred
million dollar threshold, the Honorary Consul of Turkey in Ghana, Lord
Duodu-Kumi said during the commissioning of the Galaxy International School in
Accra.
The growth in trade between the two countries,
he said, is indicative of the fact that the Republic of Turkey's interest in
Ghana is more than one of mere curiosity. During the same period there was an
increase in the number of tourists from Turkey to Ghana and businessmen who
came to explore business opportunities here.
The Galaxy International School is one of the
educational institutions being run by the Turkish educational corporation-
Surat Educational Corporation Ltd. They have schools in many parts of the world
like the US, Britain and some African countries. The schools are science and
mathematics oriented. Earlier the Minister of Girl Child Education had visited
Turkey to witness the operations of the corporation's institutions in that
country.
GRi../
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Accra (Greater Accra) 05 February 2002 - The GSE All-Share Index marked time on Monday after an encouraging 4.34 point-gain last Friday.
The index, the main gauge of the bourse, stood still at 961.68 points as none of the 22 listed equities made any move.
Change for the year stood at 0.60 per cent, but total shares traded slumped from 157,900 to 11,600 shares. Market capitalisation also remained the same at 3,915.14 billion cedis. The following are the closing prices of the equities in cedis:
ABL 320
AGC 18,800
ALW 4,300
BAT 627
CFAO 60
EIC 3,110
FML 950
GBL 1,000
GCB 1,578
GGL 910
HFC 952
MGL 241
MLC 145
MOGL 18,501
PAF 800
PBC 450
PZ 1,050
SCB 20,551
SPPC 341
SSB 2,200
UNIL 2,400
CMLT 430
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Accra (Greater Accra) 05 February 2002
Currency Buying Selling
US Dollar 7,210.55 7,406.00
Pound Sterling 10,264.94 10,544.66
Swiss Franc 4,258.60 4,370.30
Canadian Dollar 4,514.64 4,634.20
Japanese Yen 54.42 55.87
S/African Rand 623.57 637.58
Euro 6,289.02 6,454.47
CFA Franc 9.59 9.84
Naira 62.98 64.68
Ecowas/WAUA 8,984.58 --------
GRi../
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