Ghana Stock Exchange marks time as bearish tendencies continue
Manya Kro Bank increases deposits
Exhibitors of Grand sales '99 asked to slash down prices
Ghana Stock Exchange marks time as bearish tendencies continue
Accra (Greater Accra) 27 July '99
The Ghana Stock Exchange (GSE) All-Share Index marked time on Monday closing at 789.56 points as the bearish tendencies continued.
The exchange registered no price change and the change in the year to date remained at negative 9.07 per cent.
Total shares on demand 139,400 could not match offers, which stood at 2.7 million shares while total shares traded ended at 72,300 shares.
Market capitalisation remained at 3,282.40 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 600
AGC 18,700
ALW 2,610
BAT 400
CFAO 45
EIC 1,990
FML 1,250
GBL 1,850
GCB 985
GGL 950
HFC 750
MGL 220
MLC 190
MOGL 16,500
PAF 290
PZ 850
SCB 20,000
SPPC 1,981
UNIL 1,780
UTC-E 125
GRi../
Manya Kro Bank increases deposits
Asesewa (Eastern Region) 27 July '99
The Upper Manya Kro Rural Bank Limited in the Manya Krobo district of the Eastern region mobilised 1.31 billion cedis as deposits at the end of 1998 as compared to 487.5 million cedis, the previous year.
During the period under review, the bank made a net profit of 92.4 million cedis as against 59.9 million cedis in 1997.
The chairman of the board of directors of the bank, Mr Ebenezer Odonkor made this known at the 16th annual general meeting of shareholders of the bank at Asesewa on Saturday.
He said the bank invested 911.5 million cedis of the amount in various ventures.
The board chairman said in order to sustain profits the bank would continue to pursue fund mobilisation as a matter of priority and appealed to the people in its catchment area to patronise the bank and to increase their share capitals.
He said the bank has proposed a dividend of 50 cedis per share on 814,746 shares amounting to 40.7 million cedis saying this implies that a shareholder with 10,000 shares purchased at one cedi per share in 1982, when the bank was established, would receive 500,000 cedis.
The bank, Mr Odonkor said, granted loans totalling 336.3 million cedis to customers in the various sectors including agriculture, cottage industry, trade and transport as well as to salaried workers.
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Exhibitors of Grand sales '99 asked to slash down prices
Accra (Greater Accra) 27 July '99
Organisers of Grand Sales '99, the one stop market for buyers and sellers, have appealed to participants and exhibitors to slash down their prices to enable the event live up to its true status.
Mr Prince Quarcoo, a Director of the Ghana Trade Fair Company (GTFC), the organisers, said the situation where prices are basically just the same or in some instances even higher than that of the open market, does not augur well for the objective of the event.
Mr Quarcoo who was speaking to the GNA in Accra on Monday, said preparations so far towards hosting of Grand Sales ''99 said their objective is to provide, under one roof, various items at a competitive price for the public.
The Sales open on Thursday, July 29, at the Trade Fair Centre with 285 foreign and local participants who will feature consumer goods from textiles to electrical appliances.
He urged them to ensure that only quality products are exhibited.
GRi../