GRi Business, Economics & Finance 16 - 07 - 2002
ECOBANK opens two new Money Transfer outlets in Kumasi
Traded share volumes dives in mixed trading
Kumasi (Ashanti Region) 16 July 2002- ECOBANK has opened two new Western Union Money Transfer outlets at Kejetia, the hub of economic activities in the Metropolis and Old Tafo. This brings to five its outlets in the city. The three others are located at Abrepo-Junction, Ashanti New Town and Adum.
Opening the new additions on Monday, Mr Chris Appau, Ashanti Region Manager of the Bank of Ghana (BOG), expressed satisfaction with what he said was the keen and healthy competition in the banking sector. This, he said, was good for customers as each of the banks sought to improve the quality of its services in order to maintain its clients and win new ones.
Mr Appau said the interest rates of the banks remained basically the same and that the only difference had to do with the environment and customer service. The BOG Regional Manager, praised ECOBANK for its efficiency and sense of vision, saying; "the bank has proven that it knows what it is about".
He said it was quite remarkable that within a period of about one year, ECOBANK had been able to open five money transfer outlets in Kumasi.
Mr Martin Opoku, Area Manager of the Agricultural Development Bank, said the money transfer system had been of tremendous benefit to the economy of Ghana. He said remittances from the sizeable Ghanaian population living abroad had provided significant stimulus to development as it served as not only a source for the maintenance of families but helped in the implementation of housing projects among other things.
Mr Alfred Sakyi, Kumasi Branch Manager of ECOBANK, earlier in a welcoming address, spoke of plans to open additional ones to bring the total to nine before the end of the year.
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Accra (Greater Accra) 16 July 2002- Traded share volumes dived on Monday to open the week's trading down at 55,300 from Friday's 693,000. However, the All-Share Index managed a 0.56 points gain on the back of capital appreciations in three equities, including 99 cedis registered by Mobil Oil Ghana Limited (MOGL). The change in year to date moved up from 30.34 per cent.
Market capitalisation fixed at 4,734.86 billion cedis compared with weekend close of 4,733.76 billion cedis. On the broader market, there were three positive changes. MOGL gained 99 cedis to open the week at 19,601 cedis. The British American Tobacco (BAT) and the SSB Bank Limited (SSB) recorded capital appreciation of five cedis each to close trading at 930 cedis and 3,710 cedis respectively.
The following are the last prices of listed equities in cedis:
ABL 370
AGC 18,800
ALW 4,000
BAT 930 +5
CFAO 63
EIC 4,200
FML 1,617
GBL 900
GCB 3,265
GGL 910
HFC 955
MGL 253
MLC 255
MOGL 19,601 +99
PAF 750
PBC 440
PZ 1,750
SCB 21,652
SPPC 385
SSB 3,710 +5
SWL 285
UNIL 3,800
CMLT 455
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