THREE SOEs PRESENT DIVIDEND TO GOVERNMENT
Three State Owned Enterprises have presented a total dividend of ¢34 billion to the government of Ghana as dividend. Ghana Commercial Bank (GCB) presented a cheque for ¢31.1 billion, Twifo Oil Palm Plantain (TOPP) presented ¢2.79 billion as dividend for last year, while the third company, Ghana Supplies Company Limited, gave the government a cheque for ¢500 million, as dividend for the years 2005 and 2006.
Making the presentation, the Board Chairman of Ghana Commercial Bank, Mr. K.G. Osei- Bonsu, stated that the Bank has remained committed to enhancing profitability and creating value for the shareholders.
He also stated that the resilience of the bank coupled with pragmatic measures employed by its management ensured an impressive performance during the period adding that all the 133 branches and 10 agencies have been networked.
Mr. Osei-Bunso noted that the Bank also has obtained a Universal Banking License and strategies have been put in place to take advantage of the opportunities that such licensing provides.
The Managing Director of TOPP, Mr. Nenenyo Mate-Korle on his part noted that the company has so far invested $6.6million in capital assets, and coupled with good agricultural practices has turned around the plantation into a viable investment.
The MD of GSCL, Nana Fredua Agyeman Pambuo I, on his part appealed to government to allow the company to be the sole supplier of office essentials to MDAs, this he explained would save government huge procurement cost involved.
The Minister for Finance and Economic Planning, Kwadwo Baah-Wiredu thanked the Board, Management and staff of the three institutions for working hard to make this possible.
He said the government has followed the development made by the three institutions and was happy with the growth of the institutions resulting in enhancement of profitability and shareholder value.
A minute of silence was observed for the late Mr. Roko Frimpong, the departed former Deputy Managing Director (Operations) of the Ghana Commercial Bank. “The nation has indeed lost the rich experiences and services of such a man. We pray that the good Lord keep his soul in perfect peace”, the Minister concluded.
