London Stock Exchange partners GSE to grow Ghana’s stock market

The Managing Director of the Ghana Stock Exchange (GSE), Ekow Afedzie, has expressed optimism that the partnership with the London Stock Exchange will inure to Ghana’s benefits.

“Next year in 2021, we are going to have shareholders. The question is will it be the panacea for all our problems? Will it bring along more listed companies? Will it improve liquidity?” he wondered at an event on Wednesday, November 11.

The Ghana Stock Exchange (GSE) signed an MoU with the London Stock Exchange Group (LSEG) to strengthen their common interest in collaborating to support the development of the capital market in Ghana.

As part of this MoU, LSEG will assist the GSE to take steps to move from a frontier market to an emerging market, support cross-listing between the LSE and GSE and raise awareness of capital raising opportunities.

The two institutions will establish a centralised corporate news dissemination platform in Ghana to promote efficient disclosure practices and price formation and also to support future public market fund raising for the Ghana Infrastructure Investment Fund (GIIF).

A statement from the Ghana Stock Exchange said both institutions had the desire to assist Ghanaian businesses to raise capital and support business growth both domestically and internationally.

As part of the MOU, the GSE and the Securities & Exchange Commission (SEC) would sign a commercial contract with the LSEG Academy to provide series of capacity building programmes to support product development and market diversity in Ghana.

These capacity building programmes are designed to support aspects of Ghana’s Capital Market Plan, which focused on building key competences to develop a green, social and sustainable bond market.

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By Laud Nartey|3news.com|Ghana