Information Technology fair opens in Accra
Bosomtwe Rural Bank undertakes mobilisation drive
Information Technology fair opens in Accra
Accra (Greater Accra) 2 Nov. '99
A member of the Council of State, Mr Harry Sawyerr on Monday asked information and telecommunication technology practitioners to evolve standards and procedures to regulate their activities.
He said this would safeguard the interest of businesses, which make heavy investments in information technology and related services.
Mr Sawyerr was speaking at the opening of the fourth Ghana International Information Technology fair, dubbed "Infotech 99."
About 40 local and foreign dealers, service providers and practitioners in the information and telecommunication sector, are exhibiting at the fair, organised by the Ghana Trade Fair Company (GTFC).
Mr Sawyerr advised the business community to take advantage of information technology to enhance their business.
He said there have been a number of complaints from investors in information technology that their investments have not yielded the promised dividends because of certain mistakes in the process.
He said this calls for the exhibition of professionalism in selling solutions, saying the fair has provided the opportunity for exhibitors to provide the necessary information to visitors and the business community.
Mr Sawyerr tasked the Computing Association of Ghana to protect their interest and that of the customers.
He said the government has initiated development projects including the decentralisation and Internet connectivity to accelerate the development of the country.
Mr Kwame Ofori-Amanfo, Acting Director General of the Ghana Trade Fair Company, observed that the majority of Ghanaians do not have access to computers, Internet and E-mail facilities.
Ghana could be marginalised if it does not fully embrace and utilise these facilities.
He called for the evolving of policies on computers and other information technology facilities easily accessible to a wider section of the Ghanaian community.
GRi../
All-Share index drops
Accra (Greater Accra) 2 Nov. '99
The Ghana Stock Exchange (GSE) All-Share Index on Monday dropped 0.59 points to open the week's trading down at 758.82 points from Friday's close of 759.41 points in the face of losses by three equities.
The losses by Guinness Ghana Limited (GGL), Mechanical Lloyd Company Limited (MLC) and Mobil Ghana Limited (MOGL) offset the gains from the huge sale of 2.7 million of British American Tobacco (BAT) shares.
Total shares traded soared from 32,600 to 2,770,700 shares with BAT selling all of the 2,704,400 shares posted on the bourse.
The All-Share Index has been experiencing a downward pressure, since the beginning of the year, but brokers say there is hope as the Accra bourse is still very young, compared to other stock exchanges.
It hit an all-time high of 1,201.08 points on 6 May 1998, as against an all-time low of 55.49 points on May 17, 1991.
Offers closed at 4.1 million shares higher than that of Friday's at 1.3 million shares while demand fixed at 3.1 million shares up from 160,600 shares.
Market capitalisation went down from 3,237.55 billion cedis to 3,236.62 billion cedis.
In the broader market, the exchange registered four price changes - one gain and three decliners.
BAT was the only gainer closing trading higher at 500 cedis with a 60-cedi gain.
GGL lost 30 cedis at 950 cedis with MOGL closing the day at 15,799 cedis down by 51 cedis. The third loser was MLC, which lost 20 cedis to close trading at 150 cedis.
The following are the last prices of listed equities in cedis:
ABL 400
AGC 18,700
ALW 2,495
BAT 500 +60
CFAO 40
EIC 1,880
FML 1,000
GBL 1,500
GCB 840
GGL 950 -30
HFC 750
MGL 220
MLC 150 -20
MOGL 15,799 -51
PAF 270
PZ 800
SCB 19,700
SPPC 180
SSB 1,980
UNIL 1,870
UTC-E 125
CMLT 420
GRi../
Bosomtwe Rural Bank undertakes mobilisation drive
Anyinatease (Ashanti Region) 2 Nov. '99
The Management and Board of Directors of Bosomtwe Rural Bank in Ashanti, have toured a number of communities around Lake Bosomtwe, within its catchment area, to explain the operations of the bank to the people.
The objective of the campaign is to mobilise local savings to increase the bank's capital base to enable it to grant credits in the form of cash and farming inputs to its customers around the lake.
The campaign was also meant to educate them on the need for them to buy shares.
Speaking at separate meetings with the people, Mr Johnny Achibra, General Manager of the Bank said it was the only institution that could change their life for the better.
This is because, he said, rural banks are meant solely for the rural people, who cannot get collateral and meet other conditionalities demanded by the big banks.
He explained, however, that granting of loans was not based on the number of shares one buys but that the bank grants loans to those who have accounts with it.
Mr Achibra said any shareholder who wanted to apply for a loan must in addition operate an account.
He said the bank was laying emphasis on supporting small-holder groups engaged in crop and vegetable production, cocoa farming, agro-processing, vegetable oil extraction, gari processing, fishing and fish processing and marketing of farm produce.
The General Manager explained that the bank supplies cement, roofing sheets, iron rods, cutlasses, Wellington boots, spraying machines, insecticides as well as fishing nets to its customers.
Mr Achibra said when such groups are formed members would be required to open individual accounts in addition to a group account with contributions from the members, which would serve as collateral for the group.
Mr Yaw Fosu-Adjei, a Director of the Bank, said it has a credit package for the rural communities in its catchment areas.
He said a number of communities have already been assisted to provide for themselves electricity, water, schools and to rehabilitate their roads.
The communities should, therefore, patronise the bank to enable them to benefit from the facility.
GRi../