GRi Business, Economics & Finance 05 – 02 - 2003

Inter-bank exchange rates

European Union releases funds to Audit Service

Edina Traditional Council apologises to investors

Tripartite Committee breaks into caucuses

 

 

Inter-bank exchange rates

 

Accra (Greater Accra) 05 February 2003

 

Currency                     Buying                          Selling

U.S. Dollar                   8,378.09 cedis            8,568.00 cedis

Pound Sterling            13,797.04                    14,114.92

Swiss Franc                   6,174.28                     6,311.73

Canadian Dollar             5,523.90                     5,645.74

Danish Kroner             1,217.53                      1,244.83

Japanese Yen                   69.75                            71.31

South African Rand      991.43             1,010.37

Euro                           9,053.17                        9,256.29

CFA Franc                     13.80                             14.11

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European Union releases funds to Audit Service

 

Accra (Greater Accra) 05 February 2003- The European Union (EU) has released 12 billion cedis for the computerization of the Ghana Audit Service to ensure the efficient performance of its staff.

 

Wilfred Henderson, Project Manager, told the Ghana News Agency in an interview that by June this year, 390 personal computers, 60 Laptops, 150 printers, office automation and other accessories would be procured.

 

He said the project has also procured 60 software licences to enable the service to use modern computer assisted audit techniques. In addition, Mr Henderson said the project has established an Information Technology Department within the Service and would provide Local and Wide area Networks for the service.

 

Henderson said the project has also provided training to enable key staff to manage their own network and to audit Ministries, Departments and Agencies (MDA's) computerized systems.

 

The project has also trained 90 staff to audit accounts using internationally recognized auditory standards and 20 staff to carry out performance audit.

 

The performance audits will ensure how economically, efficiently and effectively MDAs have used resources provided by the taxpayer, he said.

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Edina Traditional Council apologises to investors

 

Elmina (Central Region) 05 February 2003- The Edina Traditional Council on Tuesday rendered an apology for the behaviour of a group of fishermen in Elmina who drove away some Italian investors.

 

The Italians had gone to the town to explore investment opportunities in the fishing industry when the fishermen drove them away.

 

Rendering the apology at a press conference at his palace at Elmina, the Omanhene of the Edina traditional area and President of the Traditional Council, Nana Kodwo Condua IV, expressed regret about the incident and promised to set up a "high-powered committee" to investigate the matter.

 

The Omanhene, however expressed the hope that an appropriate date would be fixed to enable the discussions to take place but appealed to potential investors to first approach the council or the district assembly to be given the requisite assistance to forestall any more of such incidents.

 

The Komenda-Edina-Eguafo-Abrem (KEEA), District Chief Executive, Nana Ato Arthur, described the incident as unfortunate and gave the assurance that such a thing would not happen again.

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Tripartite Committee breaks into caucuses

 

Accra (Greater Accra) 05 February 2003- The Tripartite Committee has broken into Caucuses to study details of reports it has received on a new minimum wage for further negotiations next week.

 

Speaking in an interview with the GNA in Accra after Tuesday's meeting, Benjamin Yinsob, Administrative Secretary at the Trades Union Congress (TUC), said parties represented on the committee were tasked last week to consult their members and present their reports.

 

He said the labour representatives at Tuesday's meeting tabled their response to the Tripartite Committee made up of labour, employers and government.

 

The two other parties, the government and the Ghana Employers' Association, are expected to study the details of the report and come out with their figures for further negotiations.

 

Alex Frimpong, Industrial Relations Officer of the Ghana Employers' Association, told the GNA that the employers would consider certain principles and economic factors to arrive at a reasonable figure for the negotiations next week.

 

The TUC has requested an upward adjustment of the minimum wage from 7,150 cedis to 12,000 cedis. Workers at the Tema Municipality have requested a 100 per cent increase in wages to reflect the recent increase in petroleum products. Labour and economic experts say wages should not go up higher than 40 per cent, else there would be a disruption in the economy.

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