UK Investors Eye Listed Ghanaian Coys
4/27/2012 1:03:06 PM -
Investors in the UK have expressed interest in acquiring shares in companies listed on the Ghana Stock Exchange (GES) this year irrespective of the impending general elections.
Richard Webster-Smith, a primary markets manager on the London Stock Exchange, in an interview with CITY & BUSINESS GUIDE on the sidelines of the African Venture Capital Association conference in Accra, said all 89 African companies listed on the London Stock Exchange (LSE) are doing massively well.
'Since 2008, Africa-focused companies listed on the LSE have raised over £4.18 billion in new and further issues across the AIM and Main Market.
'In 2011, a total of 11 Africa-focused companies joined the LSE's markets (1 Main; 10 AIM), raising a total of £272.65 million on admission. In addition, 3 companies moved from AIM to the Main Market.'
Mr Webster-Smith revealed that Ghana is a market that attracts international investors, adding that the local market will see further listings.
'We think we are impressed by the development in Ghana, as a leading market in Africa and we think that in the medium to long term an exciting development will unfold.'
Commenting on whether investors in the UK were not deterred by the impending elections in December, the primary markets manager stated: 'Investors understand the situation and are willing to make investments without any risks knowing it will lead to returns.'
He said Ghana has unique opportunities at the Jubilee Oilfield, in addition to several long-term opportunities in the services sector. Also, he said a lot of international business people are looking at Ghana's political stability, infrastructure and education levels.
23 sub-Saharan Africa-focused companies have share listings on LSE's Main Market, some of which include Anglogold Ashanti, Tullow, Afren, Realto Energy and Lonrho, among a host of others.
Investors on the LSE are also eyeing investment opportunities in Nigeria, Cote d'Ivoire and other politically-stable countries within West Africa.
By Samuel Boadi