GHANA – London Stock Exchange (LSE) is partnering with the Ghana Stock Exchange (GSE) to develop the capital markets.
The Prime Minister’s Trade Envoy, Adam Afriyie told the Ghana News Agency that the LSE will help develop some of the capital markets infrastructure that can sustain and deepen the financial market.
He spoke after they met with the Management of the Ghana Stock Exchange during the third UK-Ghana Business Council meeting in October this year.
The two stock markets agreed to cooperate to build partnerships and to deepen and tighten their harmonization procedures in accordance to a cooperation agreement that was on the sidelines of the second edition of the Ghana/UK Business Council Meetings in London in February 2019.
Mr. Afririyie explained that the partnership between LSE and GSE seeks to help Ghana develop some of the capital markets infrastructure that can sustain and deepen the financial market.
He said on the ground, people would start accessing job opportunities because there were investments coming from overseas into Ghanaian companies.
He further noted that the stock markets partnership will bring expertise from the UK to help enhance the level of capital and investments coming into Ghana.
The Trade Envoy said the initiative was important because the UK government wants to come up with a way to support Ghana to reach a certain stage of maturity in the financial market and there was a lot more liquidity and a lot more shares on offer to Ghanaian citizens and to those overseas.
“I will be delighted to see something like bonds from the diaspora; because there are a number of Ghanaians in the UK and the world at large so it will be gratifying for them to re-invest in companies in Ghana,” said Mr. Afririye.
The Ghana Stock Exchange was incorporated in 1989 and commenced business in 1990.
It currently has 42 listed companies and has an average monthly market capitalization of US$10.14 billion.