Rumours of
currency change cause price hike in Upper West
Insurance necessary for economic growth –SIC
Waste collection privatised in Sekondi
Fixed x-ray scanner operations start
Accra bourse index falls under dull market
Rumours of
currency change cause price hike in Upper West
Wa (Upper West) 16 January 2001
Rumours spreading in parts of the
Upper West region that the New Patriotic Party (NPP) government is to introduce
new currency by the end of this month have led to sharp price increases in
local staple food items in some parts of the region.
The rumours which have gained
currency, particularly in the western parts of the Wa district, have resulted
in the refusal by farmers to sell their foodstuff to market traders for fear
that they might not be able to exchange their monies for the new currency when
it comes into effect.
This came to light when the Ghana
News Agency interviewed a cross-section of grain sellers to find out the causes
of price hikes in foodstuff in most parts of the region.
A bowl of guinea-corn, which sold
between 2,800 and 3000 two weeks ago now sells between 3,500 and 4,000 while
maize which sold between 1,800 and 2,000 a bowl now sells at 2,600.
Madam Memuna Abubakari, a grain seller
at the Wa central market said most of the farmers in the rural areas contend
that during a similar money exchange exercise in the late 1970s, they suffered
a great deal as they could not change their money before the deadline.
She mentioned Jambusu, Dorimon,
Lassia-Tuolu, Wichiau and Dabo all in the Wa district as some of the villages
where farmers have refused to sell their food.
She therefore called on the
government to clear the air on the issue in order not to allow a few people to
create unnecessary panic in the rural areas.
"I only hope that it is not a
well-hatched plan to drag the new government into disrepute'', Madam Memuna
told the GNA.
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Insurance necessary for economic growth
–SIC
Ho (Volta Region) 16 January 2001
The media have been called upon to help raise public awareness of insurance as an essential pre-requisite for investment development, management and economic growth.
Mr Isaac Ackah, General Manager of the State Insurance Company, who made the call at Ho at the weekend, said the media should complement the effort of insurance agents in sensitising the public on the benefits to be derived from the insurance sector.
Mr Ackah was speaking at an end-of-year get-together for SIC staff, clients and agents.
He said the same level of public awareness that is being generated in the social, political and economic spheres of the country should also be extended to the insurance sector.
He said the growth and development of business, industry and other essential resources depends on the protection and guarantees that insurance provides.
He advised insurance agents to increase their effort to bring insurance services closer to the public and businesses.
Mr Konadu Yiadom Public Relations Manager of SIC said insurance is necessary for all types of businesses as a means of protecting the livelihood of the business owners, employees and their dependants.
He said an economy with poor insurance culture faces a great risk from unemployment, poverty, poor human resource development and stagnation for lack of protection against calamities.
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Waste collection privatised in Sekondi
Sekondi (Western Region) 16 January 2001
The Shama-Ahanta East Metropolitan Assembly (SAEMA) has privatised solid and liquid waste collection and disposal.
Mr Simon Larbi Addo, head of the Waste Management Department of the assembly, made this known to the Ghana News Agency in Sekondi at the weekend.
He said solid waste management has been contracted to ABC Waste Limited, which collects waste in the municipality twice a week.
Mr Addo said BABDOCO Limited has been contracted to do the liquid waste management.
The Waste Management Department operates door-to-door solid waste collection and disposal at Aboadze Thermal Plant twice a week.
The department also manages "communal containers" for solid waste collected by vehicles of the assembly everyday.
Mr Addo said 200 tonnes of solid waste is generated everyday but the department is capable of collecting 60 per cent of it due to inadequate vehicles.
The assembly spent 200 million cedis on fuel and an additional 200 million cedis on tyres last year for provision of services to the public.
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Fixed x-ray scanner operations start
Accra (Greater Accra) 16 January 2001
The Ministry of Trade and Industry on Monday said its Fixed X-ray Scanner at Tema Port would become operational next Monday, January 22.
A statement by the Ministry advised importers to send goods covered by final classification and valuation reports with the mark 'Yellow Scanning' at the top right corner to the fixed scanner site at the Western gate from that date instead of sending them to the mobile scanner site.
The ministry said that all gateway-passes for scanned containers would be issued at the fixed scanner site.
However, gateway passes for all other consignments will still be issued at the mobile scanner site.
The statement further urged importers to ensure that genuine documents are submitted to inspection companies and the customs, Excise and Preventive Service.
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Accra bourse index falls under dull market
Accra (Greater Accra) 16 January 2001
The GSE All-share index of the Accra bourse opened the week at 861.98 points on Monday, down by 0.43 points from Friday's close.
The index, which had made gains since the beginning of the year, was pushed down by a-10 cedi loss by Accra Brewery Limited (ABL), although a five cedi gain by Enterprise Insurance Company (EIC) moderated the loss.
Traded volumes dropped to a low of 4,200 shares compared to 22,500 shares at the previous session due to heavy bearish sentiments.
Only seven equities out of the 22 sold shares. Eight equities return negative pressures while five others had no pressure at all.
Offers shot up at 743,920 shares as against 186,070 on Friday.
Demand was pegged at 8,600 shares, down from 40,900 at the previous session.
Market capitalisation declined marginally at 3,662.62 from 3,663.43 billion cedis on Friday.
In the broader market, there were two price changes -one positive, the other negative.
EIC gained five cedis to close at 2,870 cedis. ABL lost 10 cedis at 620 cedis.
The following are the last prices of listed equities in cedis:
ABL 620 -10
AGC 18,600
ALW 4,500
BAT 400
CFAO 53
EIC 2,870 +5
FML 850
GBL 1,350
GCB 1,520
GGL 900
HFC 952
MGL 200
MLC 135
MOGL 18,600
PAF 260
PBC 503
PZ 400
SCB 21,500
SPPC 270
SSB 2,080
UNIL 1,600
CMLT 425
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