The Ghana Stock Exchange (GSE) has launched a three-year strategic plan in a bid to get more companies listed on the Stock market.
The Deputy Managing Director of the GSE, Mrs Abena Amoah, stated at the launch of the plan that the Ghana Stock Exchange is currently implementing a three-year strategic plan to create awareness. The aim, according to her, is to attract more businesses to take advantage of the stock exchange market for investment and raising of business capital.
“…our aim by the end of this strategic session is that the stock exchange market must be the preferred platform for raising capital and for investment”.
Abena Amoah
Meanwhile, she noted that strategies and plans must be developed to be anchored on few things in the Ghana Stock Market. According to her, a key requirement is the introduction and diversification of products on the stock market.
In addition, she hinted on the possibility of developing rules for trading Over-The-Counter. This move, according to her, will greatly help companies that are not listed on the Ghana Stock Exchange to also have access to the stock market to raise the needed capital for development.
“Very soon we will develop the rules for trading Over- the-Counter (OTC). So, companies that are already public companies like Shell Ghana but are not listed on the Ghana Stock Exchange, we will provide the platform for these shareholders who want to buy those shares or who want to sell those shares to trade them without difficulties”.
Mrs Abena Amoah
More so, touching on the performance in the financial sector, the Deputy Managing Director stated that, the GSE has done well in the financial sector but need to do more. According to her, not all the banks are listed on the Ghana Stock Exchange. She further lamented that not even half of the insurance companies are listed on the GSE.
Targeted Sectors
Therefore, she observed that, more work has to be done in all the various sectors of the economy to bring on more listings. Meanwhile, the three-year strategic plan also made provision for more private sector players’ participation. According to Mrs Abena Amoah, the Ghana Stock Exchange will soon start approaching more companies in the private sector to enlist them. She hinted that the GSE will also approach more public sector organizations to enlist on the stock market as part of the plan.
Furthermore, she hinted that the GSE will achieve this through massive educational, marketing and promotional campaigns. This will help enlighten the public on the activities of the Ghana stock market on how individuals can raise capital and invest. It will also enable investors meet their investment targets on the market.
Efforts Made by GSE to Improve Listing
Meanwhile, since the beginning of the year, GSE have embarked on similar campaigns to improve its performance and to attract more companies to be listed on the GSE. Notably is the recent signed Memorandum of Understanding with Standard Seed Transformation Network (STN) to assist STN to take advantage of GSE’s markets.
This presents a good opportunity for GSE as one of its strategies is to groom and prepare the next pool of companies to be listed on the stock exchange.
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