Stock Exchange MD Retires

Mr Yeboah Amoa, Managing Director of the Ghana Stock Exchange (GSE) has retired after nearly 12 years of successful tenure of office.

A source at the Exchange said last Friday, August 31st was Mr Amoa's last day in office. Mr Amoa was initially seconded from the Merchant Bank to the Bank of Ghana as Secretary to the National Committee that set up the Stock Exchange.

He became the first Managing Director of the GSE and supervised its growth from the former Kingsway building, where the Exchange was actually born, to its present office within the Cedi House.

Economic analysts said he worked for the development of what has become a well-structured secondary market that put Ghana in the international capital market.

"He is one of the finest brains we have had. He actually worked tirelessly for the successful growth and stabilisation of one of the best stock markets in Africa and the third world," the source added.

The GSE was voted the best "emerging market" in 1998 after the Index peaked to a high of 69.7 per cent.

The source said Mr Francis Tweneboah, Deputy Managing Director will act till a substantive chief executive is appointed.

Mr Tweneboah is the immediate past President of the Chartered Institute of Accountancy and the West African Institute of Accountants.