The Ghana Stock Exchange (GSE) is to establish two more markets to increase trade and expand services and products on the Accra bourse.
The two markets namely Green and Derivatives, are to be established within five years, bring to five the markets on the Accra bourse.
The others are the Equity Market, Bond Market and Ghana Alternative Market.
Managing Director (MD), EkowAfedzie, stated this during an interaction with the media in Accra on Tuesday, and said the move was to diversify the markets on the GSE.
The interaction dubbed ‘GSE MDs Breakfast with the media’, was to brief reporters of the performance of the GSE for 2021 and outlook for 2022.
MrAfedzie said the Green Bond was expected to be established before the end of this year and rules for the Green Bond was being developed.
He said the Green Market was to provide funding for projects that protected the environment.
Mr Afedzie explained that the Derivate Market was expected to be established in 2023.
“Derivatives Market is a technical area and experts are being engaged to develop the rules for the market,” he said.
The Managing Director said as part of the new strategic plan for the Accra bourse, the GSE was working to move from a frontier to an emerging market and be recognised as the preferred entry port market into the West African Exchange market.
“Our strategic plan from now to 2023 is become a demutualised entity operating at optimal capacity with an innovative and competitive orientations,” MrAfedzie said.
He said the demutualisation would help the GSE to transit from a company limited by guarantee to a company limited by shares.
According to him Nigeria and Tanzania had demutualised their markets and thus could list shares on their stock exchanges.
Mr Afedzie further said the GSE was working to improve the total market capitalisation of the Accra bourse, which is currently 15 per cent of GDP to 30 per cent within the next five years.
Total market capitalisation of the GSE as of the end of 2021 stood at GH¢64.495.20 million.
The Managing Director said the GSE last year was adjudged the second best performing market in Africa.
Mr Afedzie said the GSE would engage with the National Pensions Regulatory Authority for more pensions funds listed on the Accra bourse to provide long term capital to businesses to expand their operations.
He said the GSE was working to improve equity listings from 39 to 64 within five years as well as improve corporate bond issues from 11 to 36.
He said the objective of GSE was to become the preferred investment platform in the country and improve equity listing and bond issuers on the bourse.
“Our mission is to provide an efficient securities market for national economic development through access to capital and investment and the vision of the GSE is to be a world recognised securities market relevant to the Ghanaian economy,” Mr Afedzie said.
BY KINGSLEY ASARE