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01.11.2010 Business & Finance

Stock Exchange targets rural banks

By Joy Business/Ghana
Stock Exchange targets rural banks
01.11.2010 LISTEN

The Ghana Stock Exchange is looking at attracting more rural banks onto the market by end of next year.

This according to managers is part of a broader strategy to attract small businesses onto the local bourse.

The country currently boasts of some 125 rural banks and the Ghana stock Exchange is hoping to at least capture half of them.

The Managing Director of the GSE, Kofi Yamoah, said he had held a series of meetings with managers of the rural banks to facilitate the process for them to enlist on the exchange.

Mr Yamoah said many of the banks had expressed interest in the GSE.

The Stock Exchange is also working to establish a separate market for small businesses.

The market which is set to begin operations by the close of this year is designed to serve small businesses wanting to use the exchange to raise capital.

Rural banks in recent times have recorded sterling financial performance with some strong showing over the years in the rankings of Ghana's top 100 companies.






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