Equity market attractive again, says GSE

The GSE says it hopes to transform from frontier to emerging market and be recognised as the preferred entry port market into West Africa

The Ghana Stock Exchange (GSE) says the equity market has started performing well again on the market.

Ekow Afedzi, the managing director of GSE said things are picking up with the Ghana Stock Exchange encouraging investors to invest in the equity market.

Afedzi was speaking at the launch of the GSE’s 30th anniversary in Accra, on Wednesday (12 November).

The GSE was established as a private company limited by guarantee under the Companies Act 1963. The Exchange changed its status to a public company limited by Guarantee.

“The equity market has done better this year than last year,” he added and said next year, there would be more listing on the equity and bond markets.

Afedzi said 5.4 billion was raised throughout the 30 years from the equity market with 8.6 billion shares traded at the same period.

He said the market capitalization improved from GHC3.05million in 1990 to GHC53,115.38 million as at 31 October 2020.

Afedzi said domestic market capitalization was GHC19,296.94 million as at October 2020.

“Total volume traded from November 1990 to 31 October 2020, is 8,651,971,000 shares valued at GHC4, 638, 89million,” he said.

Afedzi said value traded on the Ghana Fixed Income Market had increased from GHC5.2billion in 2015 to GHC85,002.57 million at the end of October 2020.

He said going forward, the GSE sought to become the preferred platform or leader in the provision of financing and investment for both public and private sectors.

Afedzi said it also sought to become a demutualized entity operating at optimal capacity with an innovative and competitive orientation.

“We want to transform from frontier to emerging market and be recognised as the preferred entry port market into the West African Exchange market,” he added.

Anniversary trading, donations, public lectures, and awards night are events lined up for the celebration.

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Ghana News Agency
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