Bayport CEO Urges Ghanaian Companies to Leverage GSE for Corporate Bond Issuance
Chief Executive Officer of Bayport Savings and Loans, Akwasi Aboagye, has highlighted the significance of raising capital through the issuance of corporate bonds on the Ghana Stock Exchange (GSE).
Mr Aboagye in a testimonial campaign by the GSE noted that accessing corporate bonds on the Exchange has helped Bayport Savings and Loans grow sustainably, touting a current balance sheet of over GHS 1 billion.
Further stating that, the company’s strong balance sheet has helped it to drive financial inclusion in the country.
“One of the most important things that financial institutions need is liquidity. So accessing corporate bonds has really, really helped us to be able to grow this business and to grow it sustainably.
“Today, Bayport Savings and Loans remains the largest payroll services provider with a balance sheet of over GHS 1 billion. And we’ve been able to do that because we were able to raise corporate bonds that helped us to drive the financial inclusion agenda that the business has,” he noted.
He therefore encouraged companies in the country to raise corporate bonds on the GSE to drive growth in their businesses.
“I’m encouraging all companies in Ghana to reach out to the stock market to try and raise corporate bonds, because it gives you patient capital that allows your business to grow. My message to all companies is to try and reach out, improve on your corporate governance, and raise more funding to be able to drive the growth that keeps your business going,” he remarked.
Bayport Savings and Loans last year successfully issued a GHS 50 million note under a GHS 500 million note programme on the GSE.
The testimonial campaign by the GSE seeks to provide first-hand accounts of how the capital market has fueled the growth of currently-listed companies and enhanced their corporate profiles, and created value for their shareholders.
According to the Managing Director of the GSE, Abena Amoah, the Ghana Stock Exchange’s vision is to be a world-recognized securities market relevant to Ghana and Africa’s economic transformation.
Asserting that the GSE is bringing its vision to life by providing platforms for the private sector and public institutions to raise the patient capital necessary to fund their growth.
