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Business News of Tuesday, 23 September 1997

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Stop Fishermen From Using Explosives In Fishing - Frimpong

Axim, (Western Region) 22 Sept.,

Mr Charles Annor-Frimpong, Manager of the World Bank fisheries sub-sector capacity building, has called on stakeholders in the fishing sector to mount a nationwide campaign against the use of explosives in the fishing industry. He called for a crusade to reverse ''this trend which discredits the national fishing trade since these explosives undermine the industry.'' Mr Annor-Frimpong, who was interacting with fishing groups in the Nzema east district at Axim, said the World Bank has a special interest in the industry. Commander Mohamed Mumuni Tahiru, Director of Operations at the naval headquarters, briefed the fishermen on the control surveillance programme of the Ghana Navy. Canoe fishermen are to operate between 1 and 15 nautical miles off-shore to prevent trawlers from damaging their nets and boats. Eight fishermen who had failed to operate within the prescribed zone ''are to be prosecuted soon for breach of the fisheries law''. He described as ill-conceived rumours that the registration of canoes by the government has tax motives. ''It is intended to assist the navy in the control surveillance programme''. Commander Tahiru warned that registration numbers are strictly non-transferable. Mr George Hutchful, coordinator of the capacity building project, urged fishermen to undertake responsible fishing to establish a long-term sustainability of the national fishery resources. Nana Dick Nyann, chief fisherman, called for a task force to explain the boat registration exercise and the need for fishermen to refrain from using explosives.

Foreign exchange dealers and analysts say, the demand for foreign currencies is high and this has put pressure on the cedis, causing it to depreciate. The dollar this morning, opened at between ?2,260.00 and ?2,290.00 and the pound sterling between ?3,550.00 and ?3,620.00. The Deutche Marks between ?1,250.00 and ?1,300.00. The value of the cedis in relation to other foreign currencies are:

BUYING SELLING

CFA ?3,600.00 ?3,800.00

Japanese Yen ? 13.00 ? 15.00

Swiss Franc ?1,400.00 ? 1,500.00 Canadian Dollar ?1,420.00 ? 1,500.00

French Franc ? 340.00 ? 380.00

Deutche Guilder ?1,100.00 ? 1,200.00