PEF to list 10 Ghanaian companies on GSE by 2021

PEF to list 10 Ghanaian companies on GSE by 2021
Source: goldstreetbusiness.com
Date: 06-04-2018 Time: 12:04:52:pm

The Private Enterprises Federation, (PEF) says it is taking steps to help up to 10 Ghanaian businesses to list on the Ghana Stock Exchange by 2021.

“What we are going to do is to work with the interested businesses, in making sure that they meet the requirement. And we will train them and build their capacity.

Our objective is to make sure at least 10 of these companies from the agricultural, manufacturing and the service industries are listed,” Chief Executive Officer of PEF, Nana Osei- Bonsu, told Goldstreet Business during a capacity training session in Accra.

Companies must have a stated capital of GH1 million after the public floatation in order to qualify to be listed. They must also agree to change from a private company to a public one, limited by shares.

According to Osei-Bonsu, plans are far advanced in assisting interested companies as the Federation has already secured $1.5 million funding from the African Development Bank to undertake various projects including setting up a web base platform to promote businesses and undertake research on businesses.

“The website has been developed at the cost of $700,000 and we are now training businesses, build their capacity on corporate governance, how taxes affect businesses, how to market businesses and how to write business plan among others,” he explained.

Training of business owners by PEF has been ongoing in various regions for months with the last one held in Accra.

The Federation has also lauded government for the implementation of the utilities tariff reduction but urged business owners to conserve energy in order not to spend too much on electricity, which is considered a major challenge to the operations of businesses in the country

“Apart from the reduction in tariff, conservation of energy on the part of businesses is critical, if you abuse and leave the lights on when you close, then you are going to pay more.

So the reduction is in the right direction but we have to find ways to also conserve energy to help businesses operate,” Osei-Bonsu noted.

Government has reduced the cost of electricity by 30 percent for businesses with the aim of curbing the high cost of utilities in the country.

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