Ken Ofori-Atta, the Finance Minister of Ghana, has underscored the importance of the Ghana Stock Exchange to the Ghanaian economy in achieving positive growth.
The Finance Minister highlighted how the Ghana Stock Exchange in its short history has supported the economy in its capacity. He recognized the various milestones achieved, the challenges, and the prospects for the next 10 years as capital markets continue to evolve with new products introductions, digitalization and integration at the regional level.
The Minister indicated that the long-term capital that the Ghana Stock Exchange helps to raise for businesses, go a long way to support the expansion of the economy.
“The role of the GSE is so crucial in this economy, as they provide the platform for companies to raise long-term capital to finance their growth which supports national economic development.”Ken Ofori-Atta
Ken Ofori-Atta urged players in the capital market to collaborate to support the implementation of the Capital Master Plan recently launched by SEC to transform the capital market.
The Finance Minister praised the Exchange for evolving to become one of the best performing in Africa with its landmark automation program in 2009 and the award winning initial public offering of MTN Ghana with the innovative use of a ‘mobile money’ platform.
Also commenting, the Managing Director of the Ghana Stock Exchange, Mr. Ekow Afedzie indicated that the Exchange achieved more and will continue to do.
“The Exchange has chalked a number of milestones including: Automated Clearing & Settlement System in 2008, Creation of Ghana Alternative Market for SMEs in 2013, Merger of GSD of GSE and CSD of Bank of Ghana in 2014; and Creation of the Ghana Fixed Income Market in 2015, among others.”Ken Ofori-Atta
GSE to Become a Leader in Provision of Financing and Investment
The Managing Director disclosed the Ghana Stock Exchange’s plan for the next three years, stating that the Exchange wants to become a leader in providing capital for businesses to invest.
“The Exchange’s ambition in its three-year strategic plan is to become the preferred platform /leader in the provision of financing and investment for both public and private sectors; transform from a frontier market into an emerging market and be recognized as the preferred entry point market into the West African Exchange market, and to become a demutualized entity operating at optimal capacity with an innovative and a commercial orientation.”Ken Ofori-Atta
Ken Ofori-Atta then commended the GSE for its hardwork over the years and for recognizing individuals and institutions who have supported the growth of the Exchange and the capital market. He noted that the move will forge unity among the organization to improve the Exchange.
“GSE needs commendation for recognising active and past industry players for their various roles in growing the capital market.”Ken Ofori-Atta
The Ghana Stock Exchange (GSE) celebrated various stakeholders at its 30th anniversary awards and dinner night.
Long-serving staff and various stakeholders who have contributed in diverse ways to the growth and the development of the Exchange received several awards.
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