MAB, Ghana Post sign money transfer agreement
Shares traded surge, offers still dominate
The amount, which is equivalent to over 3.8 billion cedis, was transferred through the Transcash International Limited, a Ghanaian owned UK-based company and forwarded through the Ghana Post (GP) to beneficiaries in all parts of the country in a pilot project started by the bank in December 1999.
An agreement to start the main transfer scheme was singed in Accra between the MAB and GP. Mr Robbie Owusu, Managing Director of the Transcash International, witnessed it.
Alhaji Razali Muhammed, General Manager and Mr John Kumi, Operations Manager of MAB initialled for the Bank while Mr Nicholas Dery, Deputy Managing Director and Mr Komla Onny, Legal Officer signed for GP.
Alhaji Muhammed said the agreement is the first of its kind in the country and forms part of the bank's objective to bring its services to the doorstep of clients.
"With this collaboration, the Bank is not only able to meet customers' needs well, but can effectively help the country in mobilising the much needed foreign exchange direct at source. Mainly from Europe and North American States, USA and Canada.
"This effort will effectively complement our on-going efforts to enhance our foreign exchange earning capabilities, through our small and medium size export-financing programme."
GRi../
Accra (Greater Accra) 19 May 2000
Total shares traded on the Accra
bourse on Wednesday surged from a paltry 1,800 to 1.8 million in mid-week
trading but the market continued to be offer driven with total shares posted
increasing from 2.5 million to 3.6 million.
The heavy trade was recorded on
the strength of Guinness Ghana Limited (GGL), which had its shares price
appreciating by 24 cedis. It posted a total of 1,904,300 shares and sold
1,881,100 shares.
The remaining five out of the six
equities, which had their shares traded in sold a total of 11,200 shares with
Ghana Commercial Bank (GCB) selling the highest of 4,800 shares.
The All-Share Index, the main
market indicator, went up by 1.78 points to reach 808.00 points from 806.22
points recorded at the beginning of the week.
The change in the year to date
increased to 9.76 per cent as against 9.52 per cent recorded at the previous
trading session.
Shares demanded shot up from 102,800
to 1.9 million while market capitalisation ended the day higher at 3,308.00
billion cedis compared with 3,305.18 billion cedis registered on Monday. In the
broader market, there was only one price change. GGL gained 24 cedis to close
trading at 1,000 cedis.
The following are the last prices
of listed equities in cedis:
ABL 530
AGC 18,600
ALW 2,500
BAT 459
CFAO 38
EIC 1,880
FML 990
GBL 1,450
GCB 980
GGL 1,000 +24
HFC 910
MGL 200
MLC 150
MOGL 16,200
PAF 300
PZ 800
SCB 22,000
SPPC 150
SSB 1,998
UNIL 1,850
UTC-E 125
CMLT 422
GRi../