For example, at the beginning of the 10-year term, nearly 70 percent is invested in consols, 20 percent in short-term bonds, and the rest in ILGs and equities.
If we fix the participating rate (b = 100 percent), from Figure 3, we find that the higher the annual guarantee rate, the lower the proportion of equities held, and the higher the proportion of short-term bonds, consols, and ILGs held in the portfolio because there is a higher probability of a constant liability (1 + r).
Once distributed between the various ILGs
, individual members were lucky to get between 1 to 4 kina ($.29 - 1.19), just enough to buy a can of soda and some scones or 1kg of rice.
Mr Kobby Annan,Deputy Commissioner of the Gaming Commission, who spoke at a meeting with officials of the ILGS in Tamale to inform them about the Commission's operations in the region, said there were illegal and underage gaming activities taking place in some parts of the north, and the operators were unqualified and unlicensed.
Mr Richard Kambootah, Deputy Director at ILGS, Tamale Campus, commended the Commission for its efforts at fighting illegal and underage gaming in the north, giving an assurance of ILGS' collaboration with the Commission to promote responsible gaming.