Ghana bourse begins the week
on quiet note
Accra (Greater Accra)
29 October 2002- Dr Kofi Konadu Apraku, Minister of Trade and Industry on Monday
gave the assurance that government would continue to support domestic industry.
In regard of this, he
said, the ban on the exportation of scrap metal would be strictly enforced and
all those found to be acting against the law would de dealt with.
A statement issued in
Accra said Dr. Apraku announced this when the Tema Steel Company Limited
presented two cheques amounting to 1.155 billion cedi to him in Accra.
It said the amount
represented the full and final payment of 10 per cent dividend declared and
approved for the fiscal year 2001 at the Annual General Meeting of the company
on 26 September this year.
The minister expressed
the gratitude of government to the company for discharging its responsibilities
to the shareholders and urged them to forge ahead and meet the requirement of
the construction industry.
GRi…/
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Kumasi (Ashanti
Region) 29 October 2002- The Association of Ghana Industries (AGI) has advised
industrialists against investing short-term loans for long-term projects. Mr
Andrew Lawson, Executive Director of the AGI, noted that the practice had negative
impact on industrial growth and was a major factor in the collapse of many
industries.
He noted that by the
time short-term loans must be re-paid, the targets of long-term projects would
not have been achieved, thus impeding growth.
Mr Lawson gave the
advice when he led a team from the AGI directorate to discuss problems
associated with some industries in Kumasi on Monday, as part of a visit to
industrial establishments in the metropolis.
Industries visited
included Ashanti Foam Factory, Northern Industries Limited and OTEC
Electronics. Managements of the industries appealed to the AGI to ensure fair
competition between local and foreign products.
GRi…/
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Accra (Greater Accra)
29 October 2002- The Ghana Stock Exchange (GSE) was quiet on Monday with all major
indices barely moving. The GSE All-Share Index, the main market indicator,
inched up by only 0.04 points to close trading at 1,339.10 points from 1,339.06
points.
Change for the year
moved sideways to begin the week unchanged at 40.08 percent while market
capitalization was also barely touched at 4,030.35 billion cedis. Total shares
traded slumped from to a mere 9,500 shares from 276,800 cedis. In the broader
market, there was only one price change – a one-cedi gain by Unilever at 4,312
cedis.
The following are the
last prices of listed equities in cedis:
ABL
380
AGC 18,807
ALW 3,800
BAT 1,001
CFAO 67
EIC
4,526
FML
1,690
GBL 500
GCB 3,510
GGL 970
HFC 955
MGL 254
MLC 270
MOGL
19,721
PAF 750
PBC 390
PZ 2,000
SCB 28,000
SPPC 387
SSB 3,953
SWL 285
UNIL 4,312 +1
CMLT
460
GRi…/
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