Transforming the Ghana Stock Exchange (GSE) to be a diversified investment hub for the post Covid-19 economic recovery under the Ghana Cares obaatampa initiative is the priority of government going forward, Finance Minister, Ken Ofori-Atta has said
In a keynote speech at the 30th Anniversary Dinner and Awards of the GSE, the Minister said the process has begun to ensure that the bourse becomes the most efficient on the continent for long term revenue mobilization.
According to him, this is borne from the influence of other countries like Singapore that has been able to transform its capital market and has been using it as a catalyst for economic growth and supporting its citizens as well.
“Undeniably, transforming Ghana’s stock exchange into a deep efficient, diversified and very regular exchange is central to our Ghana Cares Obaatampa post covid 19 economic recovery.”
“Step by step, the government wants to work with the GSE to transform it into a critical reservoir of a patient capital for young Ghanaians to fund their dreams and ideas” he said.
Meanwhile, the Minister of Finance was honoured with a lifetime achievement award for his contribution to the capital market and the success of the Ghana Stock Exchange.
Director General of the Securities and Exchange Commission, Rev. Daniel Ogbarmey Tetteh; former Finance Minister, Seth Tekper and businessman Togbe Afede XIV also received honours during the night as well as other stakeholders who have contributed to the growth of the market.
In their remarks, they expressed confidence that the bourse is in a better position to support the country’s economic growth, post Covid-19 since they have been able to grow their businesses through using the market.
“I owe all my business success to the Ghana Stock Exchange and I’m proud of it” Togbe Afede XIV passionately disclosed.
Former President of the Institute for Financial and Economic Journalist (IFEJ), Loyd Evans, was also recognised for his compelling stories about the GSE during his tenure at Graphic as a Business Journalist.
Speaking at the same event, Managing Director of the GSE, Ekow Afedzi highlighted some performances of the bourse especially the bond market.
“This year has been a tremendous year for the bond market and when you look at the performances so far, it surpasses all other years. So far, the bond market has helped raise almost $200 billion for this year, indicating that Ghanaians like going to the bond market because they want to avoid risk and also because the Finance Minister is offering good returns”.
“It is a high valued market with adequate liquidity” he opined.