Mrs. Abena Osei-Poku, the Chairman of the GSE Council, has announced the impressive performance of the Ghana Stock Exchange (GSE) in 2021 financial year amid the lingering effects of the COVID-19 pandemic that slowed down the rebound of most economies including Ghana in 2021.
According to the Chairman of the GSE Council, despite 2021 being another challenging year, the Exchange showed resilience by recording a solid financial performance with a surplus of GHS31.13million representing an increase of 32 percent over the same period last year and the highest in the history of the Exchange.
“The year 2021 showed signs of recovery following the easing of restrictions on the economy with the slowdown of the COVID-19 pandemic. Despite the slow recovery of the economy, the equities market GSE Composite Index, which measures the performance of the entire market, recovered from the negative trends in 2020 to end the year strongly with a positive 43.66% compared to the negative 13.98% recorded at the end of 2020.”
Mrs. Abena Osei-Poku
Mrs. Abena Osei-Poku iterated that the performance of the Ghana Stock Exchange at the time reflected in the growth of all market indicators including the market capitalization.
“Market Capitalization for all listed securities at the end of 2021 was GHS64.50 billion, which represents an 18.63% increase compared to GHS54.37 billion in 2020. This performance earned the GSE the tag of being the second-best performing market in Africa.’’
Mrs. Abena Osei-Poku
Mrs. Osei-Poku made the announcement at the GSE 32nd Annual General Meeting to update its licensed dealing members, associate members, and other stakeholders on the performance of the Exchange and the way forward.
During the meeting, Mrs. Osei-Poku disclosed that the GSE will continue to embark on strategic partnerships by implementing some Memorandum of Understanding (MoUs) with some Exchanges, among other things, to share best practices.
GSE’s Growth Strategies
Mrs. Osei-Poku noted that Exchange as part of its growth strategies this year 2022, has launched an intensive prospection exercise with some private firms and government agencies to attract more listings, including also signing partnerships with some business associations to groom and prepare them for listing.
“Youth investment education programs were rolled out in collaboration with the Young Investor Network to take investment education to our universities and senior high schools.”
Mrs. Abena Osei-Poku
Mr. Ekow Afedzie, the Managing Director of the GSE, in his remarks, also highlighted the performance of the Exchange amidst the global challenges.
“The Exchange recorded a remarkable performance amid the challenges occasioned by the post-COVID19 pandemic effects which slowed down economic activities in the economy.
“The bond market had its best performing year since its inception, recording a total volume trade of 208.81 billion, which is a 92.62% increase from the 108.41 billion traded in 2020. The Exchange is very much committed to playing its critical role in the economy by creating the platform for the mobilisation of long-term capital and investments.’’
Mr. Ekow Afedzie
Mr. Afedzie asserted that the GSE will continue to implement its 3-year Strategic Plan to transform from a frontier market to an emerging market; demutualized entity operating at optimal capacity with an innovative and competitive orientation; and become the preferred platform for financing and investment for both public and private sectors. “All of these are aimed at creating a vibrant Exchange to support its mission of providing an efficient securities market in support of national economic development,” he indicated.
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