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20.12.2004 Business & Finance

Exchange to introduce daily trading next year

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Accra, Dec. 20, GNA - Plans are far advanced for the introduction of daily trading in shares of listed companies on the Ghana Stock Exchange early next year, Mr Ekow Afedzie, General Manager of the Exchange, said on Monday.

Speaking to a group of Journalists from Kumasi on a visit to the Exchange, Mr Afedzie said the move was to help boost liquidity on the market through continuous trading in the equities as was the practice on bourses throughout the world.

The tour is part of the Ghana Journalists Association's programme to improve reportage of economic issues and is being sponsored by United States Agency for International Development (USAID).

Currently trading in shares of most of the equities is done three times a week - Mondays, Wednesdays and Fridays. However, Anglogold Ashanti, is allowed to trade over the counter for the remaining two days of the week because of its listing on major stock exchanges in the world.

Mr Afedzie described 2004, as a successful year since it was the first time the Exchange listed four new issues. Besides, values and volumes of traded equities had also performed creditably.

He expressed the hope that with a continuous stable macro-economic environment the Bourse would continue its upward performance. Mr Afedzie appealed to entrepreneurs and companies to raise money through the exchange to expand their businesses and create jobs. He said it was only through that means that the viability of the Exchange could be sustained.

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