Accra (Greater Accra) 29 May 2001
The Trade and Industry Minister, Mr Kofi Konadu Apraku on Monday said the current agreement that grants Ghana Telecom and Westel a duopoly status as fixed line operators would not be renewed when it expires in February next year.
He said the move was in line with the government’s policy to further deregulate the telecommunication sector to allow more private participation, improve on service delivery and attract a greater infusion of investment to the sector.
Mr Apraku was speaking at a Business Forum for the 25-member German business delegation currently in the country on a four-day tour to explore investment opportunities.
The forum was to enable the delegation to meet their Ghanaian counterparts, consolidate and deepen existing business relations as well as enlarge commercial activities.
The Minister expressed the government’s avowed commitment to ensuring that the private sector propelled the country out of its current economic difficulties.
The Government is therefore working assiduously to review and make the investment laws more comprehensive to meet the challenges of the competitive global environment.
Dr Apraku said to enable business to thrive the government was taking bold and difficult economic decisions to provide a more stable economic environment for the private sector.
This, coupled with ample demonstration of transparent governance, commitment to the rule of law and the desire to remove bureaucratic bottlenecks, should provide investors the needed impetus to invest in the country.
The minister mentioned agro-processing, public transport, information technology, salt mining, textiles and banking and finance as some of the areas the delegation could explore for investment opportunities.
Mrs Bianca Buchmann, leader of the delegation said Ghana government's good policies are the main reason for the visit.
Some members of the delegation mentioned problems in land acquisition, double taxation and the general legal environment as some of the problems they encounter in their efforts to invest in the country.
They asked for the speeding up of the double taxation agreement between the two countries to facilitate investment.
GRi…/
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Accra (Greater Accra) 29 May 2001
The GSE All-Share index, the market indicator of the Accra bourse, opened the week flat at 894.19 points, as the market continued its unimpressive run under heavy bearish sentiments.
Only six equities traded shares to open the week on Monday as volumes fell heavily from 1.2 million on Friday to a mere 18,100.
There was no price change. The change for the year also remained pegged at 4.22 per cent.
Market capitalisation again marked time at 3,712.75 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 630
AGC 18,500
ALW 7,000
BAT 550
CFAO 60
EIC 2,890
FML 800
GBL 1,300
GCB 1,600
GGL 900
HFC 952
MGL 230
MLC 120
MOGL 19,000
PAF 300
PBC 450
PZ 640
SCB 21,000
SPPC 298
SSB 2,300
UNIL 1,800
CMLT 425
GRi…/
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