A 5-member delegation, led by the Managing Director of the Ghana Stock Exchange(GSE), Ms. Abena Amoah paid a courtesy call on Governor Ernest Addison and Management of Bank of Ghana.
In her remarks, the Managing Director(MD) of the GSE, Ms. Abena Amoah expressed delight about the warm reception accorded her by the Governor and his team and congratulated the Governor for his leadership, which has positively impacted the financial sector.
Ms. Amoah indicated that in equities trading, the Ghana Composite Index recorded a decrease of about 13% as at the end of last year, compared with the previous year. She however pointed out that the largest value of about GH¢1.3 billion was traded in 2022. This she said was attributed to MTN Ghana floating more of its shares on the stock exchange. The MD added that about GH¢230 billion was traded in Securities, which in comparison with the previous year was low.
She informed the Governor that in 2022, GSE was admitted as a full member of the World Federation of Stock Exchangers, placing GSE at par with the major players in the global Stock Exchange space.
Commenting on the Impact of the Domestic Debt Exchange Programme(DDEP) on the GSE, the MD stated that the DDEP which was undertaken by Government as a condition precedent to the country’s entry into the International Monetary Fund (IMF) Programme, had eroded investor confidence in the country. To bolster investor confidence, the MD highlighted the need for increased financial literacy engagements, availability of sufficient investment information and the diversification of products on the market.
On the foreign exchange market, The MD stated that it is the intention of GSE to liaise with the Bank and other stakeholders to form a Committee for the formalization of the foreign exchange market.