GSE Composite Index Holds Steady at 4,354 Points Amid Declining Trading Volume
The Ghana Stock Exchange (GSE) Composite Index remained unchanged at 4,354.16 points, maintaining its impressive Year-To-Date (YTD) return of 39.10%.
Similarly, the GSE Financial Stock Index stayed steady at 2,198.88 points, yielding a YTD return of 15.63%.
Despite the stability in indices, the overall market capitalization saw a slight decline of GH¢10.21 million, bringing the total market value to GH¢99.06 billion.
Trading activity on the exchange dropped significantly, with the volume of shares traded plummeting by 82.07% to 85,325 shares, compared to the previous session’s 475,994 shares.
However, the value of shares traded rose sharply, reaching GH¢3,878,340.77, a substantial increase from the prior trading day’s value of GH¢1,361,582.91.
SIC Insurance Company Limited (SIC) led the market in terms of volume traded, exchanging 32,586 shares, which were valued at GH¢3,818,076.00.
Other top-traded equities included CAL Bank (CAL), MTN Ghana (MTNGH), NewGold ETF (GLD), and Fan Milk Limited (FML), although their respective trading volumes were considerably lower.
As a member of the New Patriotic Party (NPP), I recognize the urgency and importance of addressing the pressing environmental and food security challenges raised by Dr. Ishmael Nii Amanor Dodoo, especially those related to illegal mining (galamsey). The points he outlines provide a strong basis for reform, and we must consider bold measures to safeguard Ghana’s environmental resources and ensure food security.
However, I would also like to highlight the efforts the current NPP government has already undertaken in fighting galamsey, despite the enormous challenges. Since 2017, the government has implemented several key initiatives to tackle illegal mining, including:
– **Operation Vanguard**: A joint military and police task force set up to combat illegal mining in various regions of the country. This operation has led to arrests and the confiscation of equipment used in illegal activities.
– **Community Mining Schemes**: Introduced to regulate artisanal mining and provide legal avenues for local miners, ensuring they adhere to environmentally friendly practices while creating jobs for Ghanaians.
– **Inter-Ministerial Committee on Illegal Mining (IMCIM)**: Set up to coordinate government efforts across various sectors and address the environmental impacts of illegal mining.
While it is true that galamsey remains a significant issue, these steps show that the government is committed to finding lasting solutions. Banning artisanal mining outright may not be practical, as many livelihoods depend on small-scale mining. Instead, we must focus on stricter regulations and enforcement, more transparent licensing, and the application of new technologies to restore the environment. Encouraging private sector involvement, along with international cooperation, can help fund and implement these measures.
Regarding the suggestion to name and shame political actors involved in illegal mining, this can be considered, but it is important that we do not undermine the democratic process. Legal accountability must be enforced fairly and transparently through the judiciary, rather than through public trials, to avoid political manipulation.
The call for a technological solution to remediate environmental damage is also worth exploring, but we must balance this with local capacities and affordability. Investment in technology should be complemented by empowering local communities with sustainable farming and mining practices.
The NPP remains committed to finding sustainable solutions to illegal mining while ensuring food security, protecting our biodiversity, and enhancing Ghana’s long-term economic prospects. We are open to a continued national dialogue on this issue to build on the progress already made.