GRi BEF News Ghana 19 - 10 - 2000
AfDB approves 4.64 million-dollar loan for
Ghana
Accra bourse index climbs up after losses
AfDB approves 4.64 million-dollar loan for
Ghana
Accra (Greater Accra) 19 Oct 2000
African Development Bank (AfDB) has approved a loan of 4.64 million dollars to support rural financial services in Ghana.
The project will provide institutional support to rural and community banks to raise their ability to handle the increasing demands of modern banking.
The AFBD loan is part of a 22 million-dollar project also being financed by the World Bank and the International Fund for Agricultural Development. The loan will be repaid in 50 years with a 10-year grace period.
This brings to 701.3 million dollars loans approved for Ghana by the AFDB and the World Bank for 55 projects. Of the total, 549.59 million dollars has been disbursed.
A statement issued by the Abidjan-based African bank said the objective of the loan is to "accelerate rural development and reduce poverty in Ghana. "The project particularly seeks to strengthen the rural financing institutions in order to enhance their efficiency to intermediate in the rural areas.
"It is also to strengthen the capacity of rural and community banks to improve their effectiveness and quality of service."
GRi../
Accra bourse index climbs up after losses
Accra (Greater Accra) 19 Oct. 2000
The benchmark GSE-All Share Index of the Ghana Stock Exchange (GSE) rallied Wednesday when gains by Mobil Oil Ghana Limited (MOGL) and Unilever pushed it up.
It closed up 1.04 points at 848.07 points compared to 847.03 Friday despite a 100-cedi loss by Standard Chartered Bank, the second most capitalised equity on the bourse.
Traded volumes were up more than six times at 76,900 shares from 12,800 on the strength of CFAO, which sold all 58,700 shares posted.
The market remains offer-driven, with offers outstripping bids by large margins. Offers went up at 2.5 million compared to 909,910 at the previous session.
Bids closed at 159,800 compared to 87,200 on Monday. arket capitalisation was up marginally at 3,615.77 billion cedis as against 3,613.82.
On the broader market, there were three price changes. MOGL gained 100 cedis to close at 18,600, UNIL was up 50 cedis at 1,400 cedis and SCB was down 100 cedis at 21,900.
The following are the last prices of listed equities in cedis:
ABL 627
AGC 18,600
ALW 3,150
BAT 438
CFAO 40
EIC 2,010
FML 1,100
GBL 1,350
GCB 1,600
GGL 700
HFC 950
MGL 200
MLC 149
MOGL 18,600 +100
PAF 300
PBC 520
PZ 600
SCB 21,900 -100
SPPC 220
SSB 2,105
UNIL 1,400 +50
CMLT 425
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