GRi Business, Economics & Finance 28 – 09 - 2002

British Airways is the most successful

New lorry fares being negotiated - Council

Kaneshie Market seeks 8 million dollars loan

Market records another drop

 

 

British Airways is the most successful

 

Accra (Greater Accra) 28 September 2002- British Airways on Thursday emerged the most successful airline at the prestigious 2002 Business Traveller Awards by winning in seven categories, a statement issued in Accra said.

 

It said the airline also won the Blue Ribbon Airline Award, as well as the top spot in the Best Business Class category by ousting Virgin Atlantic. Chief Executive Rod Eddington attended the ceremony at the London Hilton to collect the five other awards for the Best Cabin Crew, Best Short-haul Flights, Best First Class, Best Frequent Flyer Programme, and Most Innovative Airline.

 

The annual poll conducted by Business Traveller Magazine, the world's leading business travel magazine, is the only travel survey conducted by a UK-based publication, which is independent and complies with the rules laid out by the Market Research Society.

 

"In a tough year for the industry, it's particularly heartening for us that our staff have been able to continue to deliver excellent service, which has been recognised in this way". "Winning seven awards means a great deal to us," Eddington said.

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New lorry fares being negotiated - Council

 

Accra (Greater Accra) 28 September 2002- The General Council of the Ghana Road Transport Co-ordinating Council (GRTCC) on Friday said it would soon present new lorry fares to the Ministry of Roads and Transport for consideration.

 

An official statement signed by Mr Charles Ankomah, General Secretary of GRTCC and sent to the Ghana News Agency, therefore, cautioned commercial drivers to exercise restraint while the new lorry fares were being processed.

 

The statement said the Council at its emergency meeting held on 25 September commended the Ghana Private Road Transport Union (GPRTU) for having warned the drivers to desist from embarking on the last Monday's demonstrations to demand immediate increases in lorry fares.

 

The Council also added its voice in condemning the strike action by some of the drivers at the New Tema Station, which nearly turned violent. In another statement, the GRTCC expressed its appreciation to the National insurance Commission for arranging with the Insurance industry to take up the payment of medical bills of motor accident victims.

 

It said:" The GRTCC views this as a step in the right direction and a boost to the government's determination to abolish the "Cash and Carry System'."

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Kaneshie Market seeks 8 million dollars loan

 

Accra (Greater Accra) 28 September 2002- Mr Thomas Ametri, Chairman of the Board of Directors of the Accra Markets Limited, a private liability company, owners of the Kaneshie Market Complex, on Friday blamed the delay in construction of the proposed multi-million cedis three-tier car park at the market, to lack of funds.

 

The company is now sourcing for funds to start the project, which has been estimated at eight million dollars to help solve the dual problems of congestion and sanitation at the market.

 

Mr Ametri who was briefing the Press on the programmes to mark the 23rd anniversary celebrations of the market, said the car park would have a capacity for about 500 vehicles, with toilet facilities, restaurants and offices.

 

He said initially the cost was estimated at 6.1 million dollars but because of lack of funds to start it, the project was reviewed to the current cost. He said a sub-committee of the board had been appointed to source for funds and "it is hoped that within the next six months something positive will materialise. We therefore appeal for fund from the public."

 

Mr Ametri said the market would also take delivery of heavy-duty dustbins to be placed at vantage points at the market and its vicinity for refuse collection to curb the problem of sanitation.

 

"Our clients would then be educated on their uses and how to take good care of them, because the issue of sanitation at the market has been a great concern for all, especially to passengers and customers who patronise the market.

 

He said since the market was sited in a residential area with no refuse dumps, most of the residents use the dump at the market while others just dump their refuse anywhere around the market, "thus turning the whole market into a big refuse dump."

 

Mr Ametri has therefore urged the authorities to assist with more sanitation equipment to help with the situation. He said the anniversary was celebrated every last Friday of September each year, to afford the clientele an opportunity to interact with the directors of the market to know and understand one another and to exchange ideas leading to better management of the company.

 

He said this year's celebration would be used to tell the story of the Accra Market Limited because a lot of Ghanaians did not know the history of the Kaneshie Market. "The market do not belong to Accra Metropolitan Assembly (AMA) but rather to a group of companies, including the Ghana Commercial Bank (GCB), the AMA, the National Investment Bank (NIB) and the State Insurance Company (SIC) who have shares in it."

 

Mr Ametri noted that the land on which the market stood was leased to the company by the government for 50 years in November 1972. The market comprises three floors with 696 stores or stalls on the second floor, 534 stores on the first floor and 1269 stalls on the ground floor. Other activities for the celebrations include a durbar and an award ceremony for the category of neatness and regular customer.

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Market records another drop

 

Accra (Greater Accra) 28 September 2002- The All-Share Index of the Ghana Stock Exchange (GSE) on Friday registered an upward shift to close the week up at 1,308.51 points from 1,307.20 points.

 

However, shares traded dropped again from Wednesday's close of 103,400 to 55,700. It opened Monday at 624,200. Total shares offered were minimal at 7,199 compared to bids of 58,293. The change in the year to date closed at 36.88 per cent. Market capitalisation ended trading up at 4,857.18 billion cedis. On the broader market, there were four price changes - all positive.

 

The SSB Bank (SSB) gained the highest of 21 cedis at 3,901 cedis followed by the Ghana Commercial Bank (GCB) with five cedis at 3,356 cedis. Unilever Ghana Limited (UNIL) gained three cedis to finish at 4,243 cedis while Mechanical Lloyd Company (MLC) gained one cedi to end the week at 262 cedis.

 

The following are the last prices of listed equities in cedis:

ABL                      380

AGC                  18,807

ALW                  4,000

BAT                            953

CFAO                   67

EIC                     4,520

FML                   1,627

GBL                            900

GCB                   3,356                        +5

GGL                           912

HFC                           955

MGL                           254

MLC                           262                   +1

MOGL               19,720

PAF                            750

PBC                      400

PZ                       1,850

SCB                   26,023

SPPC                          387

SSB                    3,901                        +21

SWL                           285

UNIL                  4,243                        +3

CMLT                        460

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