Friday, May 07, 2010 06:23:12 PM
Kasapa Telecom denies suing Bentsi-Enchill and Co.
May 06, 2010
Accra, May 6, GNA - The Management of Kasapa Telecom Limited on Thursday said the Company has not filed any lawsuit against Bentsi-Enchill and Co as reported in sections of the media on May 4, 2010.
The story which was published in the May 4, 2010 edition of the Ghanaian Chronicle, had the headline "Kasapa sues Bentsi-Enchill & Co. for fraud…After transferring Kludjeson's shares without authority".
A statement in Accra signed by Mr. Robert Palitz, Consultant for Kasapa, said the company "wishes to emphatically state that it is not a party to that suit filed by Kludjeson International Limited (KIL)".
"Kasapa has not filed any action against Bentsi-Enchill Letsa & Ankomah or against any of the other defendants listed in that suit," it said.
The statement said the listing of Celltel Limited (Kasapa's former name) as the second Plaintiff in that suit was done without the knowledge or consent of any Kasapa director or official.
It noted that K-SAN, the Law Firm which was representing KIL in the case and said to represent Kasapa, was doing so without any instruction from Kasapa.
"KIL owns no shares in Kasapa Telecom Limited, directly or indirectly, and KIL's claims to the contrary are unsupported by any fact, law, or court ruling," the statement said.
GNA
Businesses hopeful of good times in the next six months
Accra, Oct. 22, GNA - Business executives are confident that the next six months would be good for their operations, an Association of Ghana Industries (AGI) survey has revealed.
Over 83 per cent of the 279 company executives, who participated in the survey, held high expectations that although the overall business environment was unchanged in the last six months, there is hope that it would pick up for the rest of the year.
This assurance was contained in the third quarter report of the AGI Business Barometer, which captures the prevailing business mood and expectations of Chief Executive Officers quarterly.
Presenting the findings to the media, Mr Tony Oteng-Gyasi, President of AGI, said executives from micro to macro companies across the agriculture, manufacturing, services and other sectors gave their ratings on how they saw the performance of their businesses in the last six months and what their expectations were for the remaining six months.
There were also questions about the three most important challenges and any other problems that they faced in their operations.
Mr Oteng-Gyasi said review of the data showed that companies in the services sector were most optimistic with about 90 per cent of respondents affirming that their business would be better.
Cost of credit, inflation and access to credit remained the three major challenges confronting companies, according to the survey.
Mr Oteng-Gyasi said cost of credit had been a persistent problem and there was the need to work out new solutions to enable companies borrow at lesser cost to expand their operations.
He said although the prime rate had been kept stable in a bid to control cost of credit, companies still perceived lending rates as a major barrier to accessing credit.
"Evidently, there is the need for the central bank's intervention to cushion all businesses including those that have a long-term investment horizon yet required credit," he said.
Companies still perceived lending rates as a major barrier to accessing credit, regardless of the regulatory measure by the central bank.
Cost of credit and inflation were identified as key challenges faced by the manufacturing sector, many of which are already under-capitalized.
Agriculture sector, which is pre-disposed to the vagaries of the weather, accessing credit remains a more difficult task than envisaged.
Mr Gyasi said efforts should also be made to arrest the depreciation of the cedi and stem inflation to make business planning more predictable.
GNA