Ms Abena Amoah, the Managing Director of the Ghana Stock Exchange (GSE), says Atlantic Lithium Limited, an Australian Company, is in the process of being listed on the exchange to promote local participation.
Atlantic Lithium Limited is listed on the Australian Securities Exchange (ASX) and the Alternative Investment Market (AIM) of the London Stock Exchange.
Ms Amoah, speaking at a breakfast meeting with the media on Monday in Accra, said the regulator had received the application from Atlantic Lithium and was working on it.
She urged many companies, including local ones, to be listed on the stock exchange to encourage and give opportunity for domestic investment in these companies.
“We need to make sure that every Ghanaian is saving and investing,” she added.
On the performance of the market, she said the stock market returned 28.08 per cent for investors by the close of 2023 and the performance ended the market negative return of 12.38 per cent in 2022.
She said the impressive earnings of listed companies bolstered the performance due to positive investor confidence.
Ms Amoah said market capitalisation continued to do well with 16 per cent compared to 2022, adding that the increase in share price helped in the performance.
“Domestically, we are building the capacity of local companies to be listed on the stock exchange,” the MD said.
She said in 2023, there were unfavourable terms of the Domestic Debt Exchange Programme, high concentration of government securities, low investor confidence and low investor education.
The Managing Director said with the opportunities available, they improved compliance and transparency of issuers and Market operators, financial literacy programmes and improved stakeholder engagement.
The GSE during 2023, achieved ISO certification; ISO 27001: 2013 and ISO 22301: 2019, engaged with the Minerals Income Investment Fund on the localisation of mining companies, non-deal roadshow for salt mining and real estate companies.
They also had capacity and market awareness seminars, and financial literacy programmes for 15,000 students in 50 schools across the country.
In 2024, the GSE planned to launch the Over the Counter (OTC) and Commercial papers markets, securities lending and borrowing with Asset-backed securities.
She said the Exchange would also launch a second credit rating agency, support the adoption of fintech solutions and increase market access.
She said the Exchange had been selected to partake in the African Exchanges Linkage Project, which is a flagship project of the African Securities Exchanges Association and the African Development Bank to facilitate cross-border trading of securities in Africa.
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Abena Amoah, Managing Director of the Ghana Stock Exchange (GSE)