GRi Business, Economics & Finance 13 - 07 - 2002
Insurance company introduces new health policy
Workers of Sian Goldfields on indefinite strike
Stock Exchange maintains all share index gain
Accra (Greater Accra) 13 July 2002 - Metropolitan Insurance Company Limited (MET) on Friday presented membership cards of Metcare Sankofa, a new product under the Met Health Insurance plan to the first beneficiaries of the product at a ceremony in Accra.
The product was developed in response to the needs for a health insurance product that could be accessed by Ghanaians living abroad for the benefit of their relatives and dependants resident in the country.
Mr Kwame Gazo-Abenyezie, Acting Chief Executive Officer said it was common knowledge that most remittances meant for healthcare financing were not used for their purposes and sometimes they arrived too late to be useful for the purpose.
"With Metcare Sankofa, these concerns are taken care of. Sponsors can have the peace of mind that comes with the knowledge that the healthcare needs of their dependants are in safe hands", he said.
MET by this product, is renewing its commitment to support government in finding solutions to the problems of financing healthcare in the country. Explaining the benefit of the product to the beneficiaries, Dr Awua Siaw of the Institutional Care Division, Ghana Health Services said, "there are no upfront payment by beneficiaries, no cash and carry, and any cost incurred were forwarded to Metcare for payment.
In cases of emergencies, and where there are no Metcare providers all bills incurred out of pockets at non- Metcare clinics would be reimbursed to beneficiaries. The product, he said, insures beneficiaries with 10, million cedis for out- patients costs and 25, million for in- patients costs. He said MET was negotiating with the Ministry of Health and the Ghana Health Services to enable beneficiaries of the policy to have access to all government hospitals.
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Esaase (Eastern Region) 13 July 2002- All 250 workers of Sian Goldfields Limited, a joint Ghanaian-Chinese mining company at Esaase, near Nkawkaw, have laid down their tools due to the failure of the Management to address their numerous grievances to enhance their working standard.
They have, therefore, appealed to the Minister of Mines, the Kwahu South District Chief Executive and the Member of Parliament for Nkawkaw to visit the mines to help solve their problems. The workers have vowed to continue their strike until the Management implemented their demands.
Speaking to the Ghana News Agency at the Mines on Thursday, the Secretary of the local Mines Workers Union of Trades Union Congress (TUC), Mr Zachariah
Osman said there had been no collective bargaining agreement for the workers since they started working 10 years ago. He said due to this, they had been receiving low salaries ranging between 195,000 cedis and 216,000 cedis monthly.
Mr Osman said Management had also failed to issue appointment letters to the workers, who did not enjoy annual leave. It had also refused to provide the workers with safety gadgets such as protective wear in addition to not refunding their hospital bills.
The Union Secretary said a septic tank that collected liquid waste from management's toilet and sited near the workers canteen had been overflowing for some time now, posing a health hazard to the workers. He added that five workers died over the past six months due to poor health conditions at the mines.
When the Head of Human Resources, Mr Joseph Anokye, was contacted, he said the company incurred huge debts during its nine years prospecting period and, therefore, was using income during the first seventh-month mining period to pay the debts.
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Accra (Greater Accra) 13 July 2002
Currency
Buying Selling
US Dollar 7,910.36 8,118.36
Pound Sterling 12,265.80 12,592.39
Swiss Franc 5,334.35 5,472.10
Canadian Dollar 5,188.14 5,322.23
Japanese Yen 67.73 69.49
S/African Rand 785.97 802.54
Euro 7,824.58 8,026.25
CFA Franc 11.93 12.24
Naira 66.76 68.51
Ecowas/WAUA 10,444.56
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Accra (Greater Accra) 13 July 2002- The Ghana Stock Exchange closed trading on Friday with a maintained steady rise in its All Share Index, which began on Monday.
Eight equities, Accra Brewery Limited (ABL), British and American Tobacco (BAT), CFAO, Ghana Commercial Bank (GCB), PZ Ghana Limited (PZ), Ghana Mobil Oil Ghana (MOGL), Social Security Bank (SSB) and Unlived Ghana Limited rallied to push the index up by 10.85 per cent from the last Wednesday's trading session of 1,234.59 points to 1,245.44 on Friday. Volume of shares traded was 693,000.
The change year to date moved from 20.15 per cent to 30.28 per cent. Market capitalisation now stands at 4,733.76 billion cedis.
On the broader market, there were eight positive price changes. Unlived recorded the highest appreciation of 240 cedis to close the week at 3800 cedis. PZ followed with a 130 cede gain to close at 1750, with ABL a gain of 10 cedis to close at 370.
GCB gained 3 cedis to close at 3,265 cedis, MOGL 2 cedis at 19,502 cedis and SSB 2 cedis at 3,705. BAT and CFAO gained 1 cede each to close at 925 and 63 cedis respectively.
The following are the last prices of listed equities in cedis:
ABL 370 +10
AGC 18,800
ALW 4,000
BAT 925 +1
CFAO 63 +1
EIC 4,200
FML 1,617
GBL 900
GCB 3,265 +3
GGL 910
HFC 955
MGL 253
MLC 255
MOGL 19,502 +2
PAF 750
PBC 440
PZ 1,750 +130
SCB 21,652
SPPC 372
SSB 3,705 +2
SWL 285
UNIL 3,800 +240
CMLT 450
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