By Kodjo Adams, GNA
Accra, Feb. 21, GNA - The Ghana Stock Exchange (GSE) on Friday said it expects more listings in equities and bonds to boost liquidity and enhance the performance of the bourse this year.
It will also rely on technology for efficient trading on the exchange and ensure that Exchange play a significant role in providing access to funding for Small and Medium Enterprises for accelerated economic growth.
Mr Ekow Afedzie, GSE Managing Director, who laid out the plans for 2020 at a press briefing in Accra, said the market was on course to achieve positive results in line with the strategic plan.
One key issue is the plan to formalise the Over-the-Counter (OTC) trade, which though had been in existence was yet to be formalised, to help in the growth of the equity market.
Mr Afedzie said trading and pricing rules had been reviewed, and approved for the future, adding that listing would be promoted aggressively to corporate bonds issuers.
He said the exchange would introduce an electronic and pricing system by the third quarter of the year, adding that, the electronic platform would be for bonds, shares and securities of every kind.
On the GSE Memorandum of Understanding recently signed with the London Stock Exchange, Mr Afedzie said the move was to support the GSE transistion from a frontier market to an emerging one.
This, he said, would help boost investor confidence in the GSE and enhance trading activities in equities and also strengthen the bond market.
“Three key things will happen: They are going to assist us to move or migrate from what we call the frontier market to an emerging market.
“Once you become an emerging market, you will be more attractive to potential investors, especially the big institutional investors outside; secondly, we are going to work on how to develop the bond market, especially the local currency market; and thirdly, they will assist the SEC to implement the capital market development plan that has been developed”.
GNARead Full Story