Ghana will not lose 1.3 trillion - COCOBOD
Prices remain the same on the stock market
Ghana will not lose 1.3 trillion - COCOBOD
Accra (Greater Accra), 5th October 99
Ghana will lose 100 billion cedis out of a total expected cocoa revenue of 1.3 trillion cedis for the 1998-99 fiscal year, the Ghana Cocoa Board (COCOBOD) said on Monday.
A statement signed by Mr. J. H. Newman, Chief Director of COCOBOD said the 1.3 trillion cedis quoted by the GNA in its report represents the entire expected revenue out of which a 100 billion cedis could not be realised as a result of falling world cocoa price.
It is, therefore, " not true that Ghana will lose 1.3 trillion cedis in revenue this year".
The statement announced that the new cocoa buying season would be opened very soon.
It said the Board is arranging for funds and other logistic requirements to be made available to all cocoa buying centres for the 1999-2000 cocoa season.
GRi
Prices remain the same on the stock market
Accra (Greater Accra), 5th October 99
The Ghana Stock Exchange (GSE) All-Share Index on Monday marked time as only five out of the 22 listed equities sold a total of 822,160 shares.
The exchange recorded no price change with the All-Share Index, which closed Friday's trading with a 3.42 point's gain, remaining at 763.35 points.
The market was shrouded with bearish sentiments as indicators dropped by about half of figures recorded at the close of last week.
Shares traded dropped from a height of two million shares to 822,160 shares. A greater proportion of 818,200 shares was sold by the British-American Tobacco Company (BAT) followed by Accra Brewery Limited (ABL) which sold 2,800 shares.
Ashanti Goldfields (AGC) sold 460 shares, SSB Bank (SSB) 400 shares with the remaining 300 shares being sold by Aluworks Company Limited (ALW).
Offers fell from 3.7 million shares to 1.7 million shares while demand opened the week's trading at one million shares down from two million.
Market capitalisation remained at 3,243.75 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 398
AGC 18,700
ALW 2,499
BAT 400
CFAO 40
EIC 1,880
FML 1,000
GBL 1,600
GCB 850
GGL 990
HFC 750
MGL 220
MLC 170
MOGL 15,990
PAF 290
PZ 800
SCB 19,750
SPPC 180
SSB 1,990
UNIL 1,890
UTC-E 125
CMLT 420
GRi