GRi BEF News Ghana 20 - 07 - 2001
Barclays Bank provides 500m cedis for health and education
Accra (Greater Accra) 20 July 2001
President John Agyekum Kufuor on Thursday said the government would pursue prudent economic policies to maintain the level of depreciation of the Cedi against the major currencies at not more than five per cent by the end of the year.
He said for the past six months, the Cedi has depreciated against the major currencies by about two to three per cent unlike last year when the depreciation was about 100 per cent.
Speaking at the State House in Accra when a four-man delegation from Coca-Cola International called on him, President Kufuor said within the period inflation rate also reduced from 40 per cent to 36 per cent and interest rate has also reduced.
He said with the sound policies and the stability in the country, Coca Cola Ghana, should spearhead the growth in the private sector by expanding its operations in other sectors of the economy.
"We promise you worthy partnership and good facilitator for the private sector.".
Dr Kofi Konadu Apraku, Minister of Trade and Industry, appealed to multi-national companies to take advantage of the new opportunities being offered by the economic policies to diversify their activities into other sectors such as agro-processing.
Mr Alexander B. Cunnings, Group President of Coca-Cola Africa who led the delegation said the company has pledged 105 million cedis to the Education Trust Fund.
He said for the past seven years, their operations have been tremendous and the prevailing stability in the country would ensure long-term mutual partnership between them and the government.
Mr Cunnings said Ghana is the 10th in terms of volumes of production and the 12th in terms of profitability out of the 53 African countries where they operate but "Ghana is our home country."
Mr Segun Ogunsanya, General Manager of Coca-Cola Ghana, said with the introduction of the Bon Aqua water, new pack sizes of Coca-Cola would be introduced to the market soon and the year promises to be good for their operations both in volumes and profits.
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Accra (Greater Accra) 20 July 2001
The governing board of the Ghana Commercial Bank (GCB) has been reconstituted, a statement issued in Accra on Wednesday said.
The statement signed by Ms Elizabeth Ohene, Government Spokesperson said President Joseph Agyekum Kufuor named Mr K. G. Osei Bonsu, a former Minister of State for National Security as Chairman of the 12-member board.
Other members are, Mr William Panford Bray, Managing Director, GCB, Dr Samuel Ashong, an economist, Mr Joe Ofori, a legal practitioner Mr Adamu Yakubu, Nana Asare Kodie, President, Private Enterprise Foundation and Mr Edward Afriyie, former Managing Director of Bank for Housing and Construction.
The rest are Mr Eddie Annan, former General Manager of Nestle Ghana Limited, Miss Rose Taylor, legal practitioner, Mr. Kofi Boafo, legal practitioner, Mr K Dapaah-Siakwan, Deputy Managing Director GCB and Mrs Matilda Obeng-Asong, Deputy Managing Director in charge of operations.
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Accra (Greater Accra) 20 July 2001
Standard Chartered Bank (STANCHART) Ghana Limited, in collaboration with six other companies and some radio stations on Wednesday launched a new service product dubbed, "Patterns of Excellence."
The service starting on Thursday, is in the form of a draw opened to all personal, current and savings accounts held singly or jointly at any branch of the bank in Ghana.
To win, a client has to deposit 500,000 cedis in a savings or current account upon where a coupon is collected. Sole proprietors will however collect a coupon for every one million cedis deposited.
A minimum of 500,000 or one million cedis in an account throughout the month qualifies one for any of the eight prizes in the monthly draws, which will be held at the end of August and September.
There will be six main prizes for the first six winners with consolation prizes in the grand draw, fixed for October.
Prizes slated for the draw include a three-bedroom house for first prize, two Accra-London Accra air tickets plus a 1,000-dollar spending money with elegant living room furniture as the third prize.
The fourth prize- winner gets a 20-inch television with a DVD player, the fifth prize- winner takes home a 20-inch television and the sixth prize- winner a DVD player.
There are ten consolation prizes of one million cedis and a set of aluminium pans.
The first prize for the monthly draw is 700,000 cedis, second prize 500,000 cedis and third prize 300,000 cedis, all with sets of aluminium pans.
The monthly draw will attract half pieces of ATL wax prints as consolation prizes.
The collaborators - Manet International Corporation, Kumesh Ghana Limited, Akosombo Textiles Limited, Pioneer Aluminium Company, Furnart and British Airways, have donated prizes for the draw. The major media collaborators are Joy FM, Sky Power FM and the Kumasi based Kapital Radio.
Mr. Joseph Abraham, Managing Director of STANCHART said it is the aim of the bank to offer world class banking that reflects patterns of excellence to its customers and urged Ghanaian business people to strive for excellence in manufacturing, sales, import and export services.
He said the bank has spent over four billion cedis in the development and promotion of new products in recent years with the aim of satisfying the banking needs and demands of customers to help clients and the country to attain excellence in the global economy.
Mr. Albert Saltson, Executive Director, said the bank has been networked, with 46 automated teller machines (ATM) in all its 23 branches.
He said it would soon introduce a chip based plastic cards for the withdrawal of salaries as well as transactions involving huge sums of money.
Mr. Saltson indicated that the bank is now more concerned about cash and its safety with customers rather than its competitors. It is therefore determined to develop the plastic safe cards to satisfy her clients' investments.
The bank, he said is coming out soon with plastic cards that would monitor traffic movements and fuel injection into cars at filling stations.
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Accra (Greater Accra) 20 July 2001
The Chicago State University (CSU) in collaboration with the Trade and Investment Office and the Ministry of Trade and Industry is to organise an International Business Conference and Trade Fair in Accra.
The conference forms part of a series of linkage programmes designed by the university with other tertiary educational institutions in West Africa, particularly Ghana.
Dr Ayesha S. Hakeem, a Professor at CSU, told a news conference in Accra on Thursday that the fair would also be used to clear the negative media perception circulating in the US that Ghanaians dislike African/Americans.
She noted that the publication creating the impression that Ghanaians are only interested in the money of African/Americans has dented the image of the country especially among the black community and generated a debate, which needs to be clarified "as it could jeopardise the government's effort of wooing investors."
The three-day conference, which is under the theme: "Bridging the digital and socio-economic divide" is also to facilitate one-on-one matchmaking between Americans and West African businesses and investors.
Dr Hakeem said the conference would discuss an overview of Ghana's business environment, business opportunities in Ghana, the free zone programme, opportunities for Americans and Ghanaian businesses under the African Growth and
Opportunity Act.
Other areas include financing options available to American firms looking to do business in the country, developing joint venture/partnerships in the private sector and recognising the media as a tool for promotion and development of African-American linkage.
Dr Hakeem said: "African-American relationships with the motherland need to be broadened and solidified through the promotion of cultural relationships.
"This fair will link American business people with investment projects, partners and clientele, and useful information for entrepreneurs who wish to engage in international business but have been constrained by a number of factors, including a lack of adequate and accurate information regarding the process."
The Chicago professor noted that Information Technology is the engine of growth for the African economy, hence the direction of African-Americans to attract technology transfer to the continent.
She said two major conditions that mark contemporary times are rapid changes in Information Technology and globalisation of the manufacturing and service industries with their attendant stiff competition.
"The fair seeks to minimize the impact of these rapid changes by matching investment needs of the people of Ghana with industrialists and venture capitalists from the US."
Dr Hakeem emphasised the need to combine US technology and capital with abundant raw materials and lower labour cost in Ghana to create wealth of business opportunities for both countries.
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Cape Coast (Central Region) 20 July 2001
Barclays Bank Ghana Limited has so far provided a total of 500 million cedis to assist in the provision of quality education and health care delivery in the country.
Of the amount, 115 million cedis were channelled into HIV/AIDS awareness programmes.
Mr Daniel Ayitia, Cape Coast Manager of the Bank, announced this at Cape Coast on Thursday when he presented a cheque for 30 million cedis and a computer and its accessories to the University of Cape Coast (UCC) on behalf of the bank.
The money is in aid of an art gallery being established within the UCC Library to help enhance the knowledge about the establishment of the university while the computer is for the Sociology Department
MR Ayitia noted that the bank was not merely interested in making money but also in assisting in social development activities and that the donation was in response of an appeal made by the UCC.
Receiving the cheque and the items, the out-going Vice-Chancellor, the Reverend Professor Samuel Adjepong said the donation was so far the highest towards the gallery and added that the computer would go a long way to assist the Department in its research work.
He announced that the Alumni has so far raised an amount of 55 million cedis in aid of the gallery, which was expected to be completed in a month and would contain artefacts and other works depicting the history of the UCC.
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