GSE MD stresses capital market integration for sub-regional development
Abena Amoah, the Managing Director of the Ghana Stock Exchange (GSE), has underscored the criticality of integrating capital markets in West Africa as a vital tool to fund development initiatives within the sub-region.
Highlighting the substantial potential for increasing the sub-region’s GDP, Ms Amoah urged businesses and by large countries within the sub-region to seize the benefits offered by capital market integration. Her remarks were delivered during the Capacity Building and Sensitisation event focused on the implementation of Phase 2 of the West African Capital Markets Integration (WACMI) Project, on Tuesday, July 18.
Ms Amoah emphasized that achieving market integration would result in the establishment of a larger and more interconnected capital market for the sub-region. According to her, the true liberation of capital markets would only be realized when all capital markets in West Africa are integrated, enabling companies to access capital from any participating market. This integration, she asserted, would create a conducive environment for companies to raise funds and facilitate robust investment activities.
The West African Capital Markets Integration (WACMI) Project aims to harmonize and integrate capital markets across West African countries, promoting efficiency, encouraging investment, and facilitating economic growth. By aligning regulatory frameworks and creating a seamless and interconnected marketplace, the project seeks to tap into the untapped potential of the West African sub-region’s capital markets.
Touching on the medium-term targets of the Ghana Stock Exchange (GSE), Ms Amoah unveiled ambitious goals for the exchange. The GSE, her notes, aims to attract close to 100 companies and double its market capitalization in the medium term. Currently, the GSE boasts of 37 listed companies, with a market capitalization standing roughly at GHS 70 billion.
The Ghana Stock Exchange’s drive towards deeper integration reflects the broader aspirations of West African nations to enhance economic collaboration and foster investment opportunities across the sub-region. By unifying capital markets, policymakers seek to create a seamless and interconnected marketplace that supports sustainable economic growth and addresses development challenges.
The GSE’s strategic objectives align harmoniously with these regional ambitions, as it strives to expand its market reach and bolster its market capitalization, thereby contributing to the overall economic advancement of the sub-region.
