10 Companies To Be Divested

Government is to divest part of its holdings in 10 companies, some of them through the Ghana Stock Exchange (GSE).

Sources at the GSE and the Ministry of Finance in Accra told the Ghana News Agency (GNA) Business Desk that a number of the companies would come on stream this year to bring more bite into them and increase their capital base. They are Coca Cola, 32 percent, Juapong Textiles Limited, 49 percent, Benso Oil Palm Plantation, 40 percent, Barclays Bank Ghana, 10 percent and the Ghana Food Company (GAFCO), 25 percent.

The rest are the Tema Steel Works Company, 40 percent, Ghana Oil Palm Plantation, 20 percent, Twifo Oil Palm Plantation, 40 per cent and the Ghana Textile Printing Limited, 16 percent. The source said "These are all very viable companies that we have and getting them on the Exchange will be a great idea.

Discussions are underway to ensure that the entire process for listing is fast-tracked and indeed brought to reality". A source at the Ministry of Finance noted that "What I know for sure is that some of the known names may not pop up immediately for listing, even though they are interested." The aim of divesting and consequent listing is to enable government's privatisation objectives and the promotion of private enterprise.

Also expected on the Exchange this year is the Cocoa Processing Company (CPC) that is offering 215 million shares representing 25 percent of it holdings at 1,000 cedis each.

Government is to divest part of its holdings in 10 companies, some of them through the Ghana Stock Exchange (GSE).

Sources at the GSE and the Ministry of Finance in Accra told the Ghana News Agency (GNA) Business Desk that a number of the companies would come on stream this year to bring more bite into them and increase their capital base. They are Coca Cola, 32 percent, Juapong Textiles Limited, 49 percent, Benso Oil Palm Plantation, 40 percent, Barclays Bank Ghana, 10 percent and the Ghana Food Company (GAFCO), 25 percent.

The rest are the Tema Steel Works Company, 40 percent, Ghana Oil Palm Plantation, 20 percent, Twifo Oil Palm Plantation, 40 per cent and the Ghana Textile Printing Limited, 16 percent. The source said "These are all very viable companies that we have and getting them on the Exchange will be a great idea.

Discussions are underway to ensure that the entire process for listing is fast-tracked and indeed brought to reality". A source at the Ministry of Finance noted that "What I know for sure is that some of the known names may not pop up immediately for listing, even though they are interested." The aim of divesting and consequent listing is to enable government's privatisation objectives and the promotion of private enterprise.

Also expected on the Exchange this year is the Cocoa Processing Company (CPC) that is offering 215 million shares representing 25 percent of it holdings at 1,000 cedis each.