GRi BEF News Ghana 17 - 11 - 2000
Break GT's monopoly – consumers
BOG: there will be
enough cash
Break GT's monopoly – consumers
Accra (Greater Accra) 17 November 2000
The Ghana National Consumers Association (GNAC) on Thursday appealed to the government to restrain Ghana Telecom (GT) from operating mobile telephone service.
This, it said, is to prevent monopolisation of the telecom market by GT and to allow consumers to have a choice among various service providers at competitive prices.
Mr Francis Badu-Brown, Executive Director of GNAC, made the call at the first GNAC consumer conference at the on-going Ghana International book fair.
"We are saying that GT should be restrained from operating mobile services because it would break the smaller mobile telephone companies and enhance GT's monopoly," he said.
He said this would be to the detriment of consumers' right to choose products and services at competitive prices with the assurance of satisfactory and quality service.
Mr Badu-Brown also appealed to the government to set up an enquiry into the billing system of utility companies, especially GT.
He noted that consumers all over the country are questioning the genuineness of telephone bills.
"We are glad to hear the President's announcement that (the) government will reform the power industry. That will break the monopoly of the Electricity Company of Ghana and we want a similar thing to be done in the telecom industry to break GT's monopoly."
Mr Badu-Brown noted that the absence of a single consumer protection law (CPL) in this country allows businesses to flood the market with poor quality and shoddy goods and services. This violates consumer rights to quality services.
"We therefore appeal to the government to put together a single CPL, to protect the rights of consumers and prevent business from advertising and selling shoddy products."
Mr Badu-Brown said although GNAC supports a free market policy, it believes that the importation of certain products such as canned coconut, "nkatie burger" and a host of others, is not necessary.
He therefore called on importers to stop importing them and asked consumers to shun such products and patronise the more nutritious local alternatives.
Mr Ekow Mills, a director of GT said his company is in the process of reaching an interconnectivity agreement with its competitors.
He declined any further comments saying their competitors have taken the matter to court and the national communications authority is also in the process of solving it.
The director of finance and administration of Association of Ghana Industries, Mr Sam Boakye urged Ghanaians to patronise made in Ghana goods to create jobs for the unemployed and also reduce the pressure on the cedi.
GRi…/
BOG: there will
be enough cash
Accra (Greater Accra) 17 November
2000
The Bank of Ghana on Thursday said
there has been an increase in the demand for cash but there would be enough
currency in circulation to meet all demands.
A statement issued in Accra by Mr
H.O. Ammah, Director of the bank's Issue Department, said the demand for cash
has increased as a result of the 2000/2001 main crop season, which has
attracted an increase of about 40 percent over last year's producer price.
It said another reason for the
high demand is the withdrawal of large amounts of cedis for political party
campaigns.
"To meet the demand for cash
payment to cocoa farmers in particular the bank has moved currency to the tune
of 220 billion since the season was declared open on October 26, this year, to
the cocoa growing areas," it said. It said additional cedis would be put
in circulation by the end of this month. The bank said as an interim measure to
improve the situation pending the delivery of fresh currency, steps have been
taken to put back into circulation slightly used currency notes.
GRi…/
Accra (Greater Accra) 17 November
2000
The Ghana Association of Bankers,
on Thursday November 16, announced the
following average inter bank exchange rates of the cedi equivalent to the
dollar and derived rates for other major foreign currencies:
Currency Buying Selling
US Dollar 6,674.36 6,883.56
Pound Sterling 9,514.30 9,815.96
French Franc 874.18 901.15
Swiss Franc
3,757.62 3,023.18
Deutsche Mark
2,931.17 3,023.18
Canadian Dollar 4,302.39 4,434.39
Japanese Yen 61.37 63.26
Dutch Guilder 2,602.10 2,682.40
S/African Rand
869.00 895.07
Euro
5,734.62 5,912.16
CFA Franc
8.74 9.01
Naira
65.02 67.05
Ecowas/WAUA 8,408.62 -----------
GRi…/