Deepening activities on the stock market-Transol to rais ¢20 billion on GSE

Story: Boahene Asamoah
TRANSACTION Solutions TRANSACTION Solutions Ghana Limited (Transol), an information technology company is to raise ¢20 billion through an Initial Public Offer (IPO) on the Ghana Stock Exchange (GSE).

“These shops known as easy shops are 23 in number and have been deployed in Accra, Kumasi, Tema and Tamale”, Mr Jacquaye said, adding that plans were under way to open Ezi shops in Takoradi, Tarkwa and Koforidua.
EZI shops are points of sale centres for Areeba recharge vouchers and that of the other network. The locations could also be used for Ecobank Visa Gift card and payment of Multichoice bills.
The Chairman said the company was full of innovation that could help build shareholders funds, saying it was the first company to install stand alone Auto Teller Machines (ATMs) in the country using the Ecobank platform.
He said currently the company had installed 16 ATMs at strategic locations and was in the process of installing 25 additional ATMs throughout the country.
“This is why we are coming to the market to raise funds for the expansion of the business,” he said.
He said the prospects of the business was bright as the company had improved its financials tremendously over the past three years.
The company has witnessed very significant improvement in its financials registering rapid growth in its revenues since 2003.
It’s revenue went up by ¢8 billion in 2003 to ¢36.7 billion and ¢193 billion for 2004 and 2005 respectively.
Even though the company recorded a loss of ¢597.8 million in 2003, which was the first year of operations, it recovered in subsequent years, recording a net profit after tax of ¢556.8 million in 2004 and about ¢6 billion in 2005.
Fixed assets also improved from ¢1.1 billion in 2003 to ¢6.2 billion by the end of 2005, as against a total asset base of ¢2.5 billion in 2003 and ¢21.1 billion in 2005.
Shareholders funds also went up from about ¢2 billion in 2003 to ¢5.6 billion in 2005 due to improved profitability.
Mr Jacquaye said the company’s strategy was geared towards understanding key market conditions and customer needs in the medium to long term.
“The future prospects of the company are very positive as we continue to diversify our product portfolio,” he stated.