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Business News of Tuesday, 18 November 1997

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Nsoatre Youth Association Embarks On Afforestation Programme

Nsoatre, (Brong Ahafo) 16 Nov., Members of Nsoatreman Youth Association have decided to establish teak and cashew farms to boost afforestation and also to enhance their economic activities. They have cultivated other cash crops such as vegetables and mobilised some revenue to initiate "self help projects in the area. The secretary of the association, Mr.. Yaw Asante-Krobea told the Ghana New Agency that the members plan to renovate school buildings which in a deplorable state. He urged the traditional authorities to support their activities by releasing land to them for more development projects. He deplored the negative attitude of some residents towards communal labour and stressed that the people should not rpt not rest on their oars and depend solely on the government for development projects. Mr.. Asante-Krobea urged the people to cultivate the self help spirit to attract support of the government and other non-governmental organisations. The Youth Organiser, Mr.. John Anane-Adjei urged the Non-Resident citizens to visit home and provide the people with the needed support in their development endeavours.

GRI

The value of the cedi has depreciated by a small marginal against the major currencies of the world. This morning it opened between ?2,260.00 and ?2,257.00 against the dollar and between ?3,660.00 and ?3,700.00 against the pound sterling. Against the Deutsche Marks it was bought for ?1,310.00 and sold for ?1,360.00.

The rate of the cedis against the other foreign currency's is:

Buying Selling CFA 3900.00 4000.00 Swiss Francs 1500.00 1580.00 French Francs 370.00 375.00 Dutch Guilders 1180.00 1220.00 Canadian Dollar 1500.00 1600.00 Japanese Yen 15.00 19.00