The Ghana Stock Exchange has said its partnership agreement with the London Stock Exchange will boost the GSE by enhancing its trading activities with immense investor interest.
Speaking at a press briefing, the Managing Director of the Exchange, Mr Ekow Afedzi, said the agreement signed by President Nana Akufo-Addo in January this year, is expected strengthen the bond market as well.
He said: “What it means is that, we are going to work together to develop the Ghana Stock Exchange”.
“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 become 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; thirdly, they will assist the SEC to implement the capital market development plan that has been developed.”
Mr Afedzi advised the media to stop sensationalising their reports with respect to the operations of the GSE, since it has the propensity of pushing away investors.
The GSE Composite Index ended the first month of 2020 with a year-to-date of -2.66%, far better than the last two years.
Market capitalisation declined by -2.63% to GHS56.7 billion.