LAST week November 12 was the 13th Milestone in the relatively significant life of the Ghana Stock Exchange GSE.

It has come a long way, in moving the fortunes of not only the national economy, but the finances of the 26 listed equities. The modest story of the GSE story started in February , or before as some may insist, when a member National Committee was set up under the Chairmanship of Dr George K.

Agama, then governor of the Bank of Ghana to establish the Ghana Stock Exchange. The Committee then went ahead to consolidate all the previous work connected to the Stock Exchange Project and worked modalities towards the actual establishment of the Exchange which came to fruition in July , but received full authorization under the Stock Exchange Act of Act in October with trading commencing on November 12, From this point, the Exchange has progressively strengthened its facilities for business and government to raise long-term capital as well as providing an avenue for investors obtain liquidity.

The last 13 years has seen rapid growth of the securities industry, as well as facilitated the development of the capital market.

Well put, for the government, the Exchange has been the source of divesting state holdings in companies and enterprises, which require support in the form of capital or expertise. It is also to control the granting of quotations on the securities market in respect of bonds, shares and other securities of any company, corporation, government, municipality, local authority or other body corporate.

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It was also set up to cooperate with associations of stockbrokers and stock Exchanges in other countries and to obtain and make available to members information and facilities likely to be useful to them or their clients.

Index performance wise, the GSE has acquitted itself so well that it emerged the 6th best performing emerging stock market posting a modest per cent as early as in A similar feat was chalked a year later coming up again as the best performing stock market among all the emerging markets with an appreciation of Indeed, with deteriorating economic conditions on the crest of high inflation and interest rates from to , the Exchange could not perform as well with a less then impressive performance of 6.

There was a drop in signifying the bad patch ever recorded at the Exchange with a loss of —15 per cent, due mainly to the adverse environment that prevailed during the period. The story has changed since with growth postings rose to The story since then has been nothing but sweet. The Index has grown considerably to In the GSE All Share Index over January to November 12, has increased to Market capitalization totalled 11, Volumes traded since November far amount to TRADING AND LISTING The GSE as stated started with just 11 equities but has risen from 22 in to 26, the latest one being Clydestone, a home grown IT company on the Provisional List.

The total listed equities is set to rise to 27 when Benso Oil Palm Plantation gets on board. The return of a new enlarged company name yet to be known, but likely to be Ashanti-Anglogold would be a completely new ball game catapulting the GSE to new heights.

The recent listings of The Trust Bank of The Gambia which, put 30 million ordinary shares with par value, Cocoa Processing Company and Sam Woode Limited have also added new impetus to the GSE as a major means of raising long term capital and way of placing young, struggling but potentially vibrant entities in a good stead for expansion. The take over transaction in SSB Bank Limited is the largest in the industry so far, a feat undertaken by Societe General, a giant in the industry.

Currently there are 24 GGILBS on the market. Many investors will tell you that even though it was not so smooth from the beginning, things have improved significantly from a —7.

As at November 12 this year, the change in index to date as against inflation was fixed at The recent decision by the Central Bank to operate a Clearing Settlement and Depository system is a new development, which, will help the Exchange concentrate on trading activities. He was optimistic about the performance of the Exchange this year which has outperformed all other Exchanges in Africa following the relative stability in interest rates, exchange and inflation rates in this last quarter.

Brokers, shareholders and industry analysts who spoke to this reporter were very optimistic about the future of the GSE, especially those who have been with it a little over the last decade. The brokers, shareholders and industry analysts were sure that no matter the difficulties the Exchange faces, it has great potential and is a better option than the others on the market. Personally I think that the Exchange has been most significant in trying to change the face of industry in Ghana and with significant support and push not with little push because that is what it needs to move forward.

In advanced countries, Stock Exchanges are a reflection of the movement of the economies and a barometer for accessing how well they rate with others. It is most regrettable that anyone will want to deride the Exchange at this time. Indeed, like any human institution, there are bound to be problems.

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But can you imagine people you expect to know better, clinging to very wiered thoughts and beliefs in how trading has gone on, some to the extent of bringing the very existence of the Exchange into disrepute?

How do you feel and see the stories put forward by the world media on the NASDAQ, New York Stock Exchange, London Stock Exchange, Johannesburg Stock Exchange and the Egyptian Stock Exchanges? No doubt, it increases the international standard of these countries and any reason why we, with such a modest but highly performing Exchange cannot push it forward.

After all, is it not said that encouragement must be given to the man who is doing well? Do you have a story for publication? Kumasi, June 21, GNA - The Kumasi Metropolitan Chief Executive MCE , Mr.

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Home Radio TV Ghana Contact Login. Benjamin Konadu Arthur heritage. Wednesday, June 21, Kumasi, June 21, GNA - The Kumasi Metropolitan Chief Executive MCE , Mr. Stakeholders to address challenges confronting wom Assemblies asked to prepare grounds for investors. Wednesday, June 21, Ho, June 21, GNA - Ms Gifty Kekeli Klenam, Chief Executive Officer, Ghana Export Mexico to support Ghana to participate in Business Wednesday, June 21, Accra, June 21, GNA - Ghana has been selected as the first African country to pa Man Lynched At Kejetia.

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