Government to create right environment for aviation industry
Accra (Greater Accra) 25 May 2002-Mr K. Agyeman-Manu, Deputy Minister of Road and Transport, on Friday assured the aviation industry that government would endeavour to create the right legal environment and appropriate organisational framework to develop and enhance its competitiveness. Mr Aygeman-Manu gave the assurance at a day's workshop for stakeholders in the aviation industry on the restructuring of the Ghana Civil Aviation Authority (GCAA).
The workshop was to enable stakeholders to review the consultant's report of the first phase of the strategic option and implementation plan to restructure the GCAA in line with the Gateway programme.
The Minister said he was aware of bold strides made by the GCAA since 1998 and pledged that government would support the on-going project. "Government considers the national aviation industry as one of the sub-sector's that have a role to play in achieving the gateway objectives and as such should be considered as priority and encouraged," he said.
He said the GCAA would have to achieve a number of objectives on the programme, which include focusing on its core functions as a regulatory authority, put into operation the liberalised skies policy of government and introduce private sector participation in the infrastructure, management and development of the Kotoka International Airport.
Dr Kwame Amoako Tuffuor, Chairman of the Board of GCAA, said the board fully supported the Gateway programme as well as the improvement of GCAA. He said there was the urgent need to commercialise certain businesses at the airport and the private sector would be encouraged to invest in these commercial activities while the GCAA maintained its ownership of the airport.
"It is expected that private participation would introduce not only management expertise required in running a modern airport but also the capital needed for airport infrastructure development." The commercialisation activities include the operation of shops, car parks, properties, rents, restaurant and advertisement.
"That is why GCAA has placed considerable emphasis on the creation of space for such activities in the terminal remoulding works under its on-going phase two development project." The Acting Director-General of GCAA, Captain Joe Boachie said the restructuring of the authority was expected to transform it to conform to modern trends in the aviation industry.
He said this new trend in effect leaves a civil aviation authority to focus on its core responsibility of making sure that the other players in the industry - the airlines, airport, air traffic providers/airspace management agencies - operate strictly within International Civil Aviation Organisation and national civil aviation regulations for greater efficiency and safety enhancement.
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Accra (Greater Accra) 25 May 2002-The Ghana Stock Exchange (GSE) All-Share Index recorded one of its biggest jumps this year on Friday after gains by several blue chips.
The index, the main market gauge, leaped by 19.59 points to 1,092.33 points after gains by SSDB Bank, Ghana Commercial bank, Enterprise Insurance Company (EIC), British American Tobacco, Unilever and Mechanical Lloyd. A 100-cedi loss by Aluworks Limited failed to make any dent on the market.
Change for the year responded accordingly, rising to 14.2 per cent from 12.22 per cent. Total shares traded surged to 1,122,500 from a mere 30,000 on Wednesday with 11 of the 23 listed equities trading shares. Mechanical Lloyd sold the highest number of shares (500,000) with Ghana Breweries (290,000) and SSB Bank (220,000) following in that order.
On the broader market, there were seven price changes - six positive one negative. Ghana Commercial Bank (GCB) gained 80 cedis at 2,120 cedis, British American Tobacco (BAT) was up by 40 cedis to 900, Enterprise Insurance Company gained 129 cedis to 3,800 cedis, SSB Bank gained 284 cedis at 3,300 cedis, Unilever (UNIL) was 81 cedis richer at 3,000 cedis and Mechanical Lloyd gained 83 cedis up at 230. The only loser was Aluworks which was down 100 cedis at 4,200 cedis. Market capitalisation was higher at 4,159.10 billion cedis from 4,118.04 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 330
AGC 18,800
ALW 4,200 -100
BAT 900 +40
CFAO 60
EIC 3,800 +129
FML 1,221
GBL 900
GCB 2,100 +80
GGL 910
HFC 955
MGL 251
MLC 230 +83
MOGL 18,820
PAF 750
PBC 450
PZ 1,400
SCB 20,500
SPPC 370
SSB 3,300 +284
SWL 280
UNIL 3,000 +81
CMLT 435
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