"GSE Deputy MD explains why Ghanaian businesses are reluctant to list on the stock market"

" \n GSE Deputy MD explains why Ghanaian businesses are reluctant to list on the stock market \n \n\n \n Deputy Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, has revealed the reason behind the reluctance of Ghanaian businesses in issuing an IPO and listing on the local bourse. \n \n\n \n The reluctance of Ghanaian businesses to list on the GSE, Ms Amoah notes is despite the myriad of funding opportunities that local businesses can tap into by listing on the bourse. \n \n\n \n Making the revelation in an interview on Accra-based Asaase Radio, Ms Amoah noted the idea of Ghanaian businesses being accountable to shareholders is the major reason for their reluctance to list on the stock market. \n \n\n \n \u201cAlmost all the Nigerian Banks in Ghana are listed on the Nigerian Stock Exchange and it is the pride of every Nigerian business to be quoted on their stock market, South Africa Banks are listed in their country, here in Ghana we have only about 40 firms listed on the exchange. \n \n\n \n \"Many local businesses have misconceptions as to how to list on the GSE and many of them are afraid of opening up to other shareholders, because the point of being accountable they see it as a difficult matter. \n \n\n \n \"But the education we are doing now should see a lot more Ghanaian businesses being listed,\" she said. \n \n\n \n \u201cAnd we have actually made the process as simple as possible and we have entered into MoU with various associations like AGI, Stanford Seed Transformation Network etc and engaging with a lot more associations,\" she added. \n \n\n \n Ms Amoah expressed optimism that GSE's current educational campaign on the need for local businesses to list on the bourse will yield some fruits. \n \n\n \n Since its inception in July 1989, about 40 firms have so far been listed on the local bourse. \n \n\n \n GSE ends September with 47.21% returns for investors \n \n\n \n Meanwhile, the Ghana Stock Composite Index (GSE-CI), ended the month of September with a year-to-date (YTD) return of 47.21 percentage points on share prices for investors trading on the local bourse. \n \n\n \n The benchmark index, in the last week of September rallied as it gained 180.29 points to close at 2,858.17 points on Friday, October 1, 2021, translating into the YTD returns of 47.21 percent. \n \n\n \n The GSE Financial Stock Index (GSE-FSI) also appreciated by 49.20 points to close at 2,055.20 translating into a YTD return of 15.28%, making it the third weekly gain in a row. \n \n\n \n Price gains recorded in the two benchmark indices resulted in the increase of the market capitalization of the local bourse by some Ghs 1.89 billion ending September with a total market capitalization value of Ghs 64.2 billion. \n \n\n \n The benchmark Ghana Stock Exchange Composite Index (GSE-CI) for this year has so far made year-to-date returns of over 46 percent for investors in cedi terms making it the best stock market on the African Continent. In dollar terms, however, the GSE is overtaken by Zambia\u2019s stock market. \n "

"GSE Deputy MD explains why Ghanaian businesses are reluctant to list on the stock market"

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