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28.06.2005 Business & Finance

GSE to Trade Daily

Ghanaian Chronicle

The Ghana Stock Exchange will from August 1 this year, start trading on daily basis. The Ghanaian bourse currently trades three times a day, that is Mondays, Wednesdays and Fridays. It is hoped that this move will go a long way in improving the liquidity of the market.

The GSE which was incorporated in July 1989 is yet to work on an automated Trading, Clearing and Settlement system which are long overdue. So many efforts have been made by stakeholders to make this a reality but it had not succeeded. As of now, the Exchange operates a centralised manual clearing and settlement system.

The Exchange has been progressively strengthening its facilities for businesses and the Government to raise long-term capital as well as for investors to obtain liquidity, reasonable capital safety and diversity of investments.

There are currently twenty nine (29) listed companies - all equities. All types of securities including foreign registered companies' securities can be listed. The criteria for listing include capital adequacy, profitability, spread of shares, years of existence, management efficiency etc.

The Exchange expects the Government to divest more State-Owned Enterprises through the Exchange. The Exchange also expects more listings from the private sector.

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