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24.10.2005 Business & Finance

GSE has room for more firms

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Mr Kofi Yamoah, managing director of the Ghana Stock Exchange (GSE), has expressed concern about the low number of companies listed on the GSE and called for more listings.

Currently, there are 29 companies, 16 brokerage dealers and 21 investment advisors listed on the Stock Exchange. These numbers, the GSE boss says, are still low, especially, considering the large number of companies and investors that have the potential to enlist.

Although listing on the exchange is a purely voluntary business decision, he said it was important that companies were encouraged to get listed, saying “it is our collective duty to make the stock market grow.”

Giving an overview of the performance of the GSE at a meeting with officials of the ministry of Finance and Economic Planning, and Securities Exchange Commission in Accra last Thursday, Mr Yamoah said an enormous investment potential existed on the market and that businesses needed to take advantage of it.

“They cannot continue to operate as family businesses,” he said, referring to business owners that have refused to go on the stock market because of the fear of losing business ownership rights.