The Managing Director of the Ghana Stock Exchange (GSE), Mr Ekow Afedzie has called on Ghanaians to invest in companies listed on the exchange.
He said the only way for the economy to develop was for Ghanaians to invest in risk assets such as equities than treasury bills.
Speaking at the launch of the 30th anniversary celebration of the GSE in Accra yesterday, Mr Afedzie for example said the returns on equities were better than treasury bills, if the equities performed well.
The 30th anniversary of the GSE established in 1989 is on the theme “30 Years of Ghana Stock Exchange and National Development.”
He said some Ghanaians were risk averse and were interested in treasury bills instead of buying equities.
Mr Afedzie entreated pension fund companies to participate actively on the activities of the stock exchange.
He said so far the GSE had helped provide a market for the raising of long term capital, saying so far the market had raised more than GH¢5.41 million for expansion to meet the capital requirements of companies and improve their technology.
“The market capitalisation improved from GH¢3.05 million in 1990 to GH¢53, 11.38 million as of October 31, 2020,” he said.
Mr Afedzie said domestic market capitalisation as of October 31, 2020 stood at GH¢19, 296.94 million and the total volume of shares traded from November 1990 to October 2020 was 8,651,971 and valued at GH¢4, 638.89 million.
“Value traded on the Ghana Fixed Income Market has increased from GH¢5.2 billion in 2015 to GH¢85, 00.52 million at the end of October 2020,” he said.
Outlining measures to further position the GSE as a preferred choice of raising long term capital, Mr Afedzie said the demutualisation programme of the GSE had not been abandoned.
He said the demutualisation would change the GSE as company limited by guarantee to a company limited by shares and this will allow the GSE to have shareholders.
“The GSE next year will carry out a lot of strategic initiatives for the upliftment of the market to see more liquidity and listing on the market,” the Managing Director said.
Mrs Diana Okine, the Head of Marketing and Public Relations of the GSE said a lot programmes had been outlined for the 30th anniversary celebration.
“Today November 12, 2020 will be our anniversary trading day. This ceremony will be witnessed by the Minister of Finance and host of dignitaries, and the ringing of the bell to mark our 30th anniversary,” Mrs Okine said.
BY KINGSLEY ASARE
The post Ghana urged to invest in companies listed on Stock Exchange appeared first on Ghanaian Times.