The Ghana Stock Exchange (GSE) has reiterated its position to become an emerging market exchange and also the preferred entry port market into the West African Stock Exchange Market in the not-too-distant future.
Disclosing this at the 2022 Annual General Meeting of the GSE, outgoing Managing Director, Ekow Afedzie, said the Exchange continues its development processes based on the 3-year strategic plan, built on three key outcomes.
The outcomes include becoming the preferred platform/leader in the provision of financing and investment for both the private and public sectors and becoming a demutualized entity operating at optimal capacity with an innovative and competitive orientation and to transform the exchange.
To this end, the key strategic initiatives for 2022 include continuation of the demutualization process, establishment of a green market and the launch of the bond market indices.
Others are collaboration with financial technology firms to launch the digital code, improve the Global Master Repurchase Agreement (GMRA) based on transactions in the financial market, operationalization of the domestic credit rating agency and capacity building for market operators.
Market performance
The Exchange recorded impressive results in 2021.
On the equities market, the GSE Composite Index, which measures the performance of the entire market, recovered from the negative trends in 2020 to end the year strongly with a positive 43.66%, compared to the negative 13.98% recorded at the end of 2020.
The performance earned the GSE the second best performing market in Africa.
The GSE Financial Stock Index (GSE-FSI) also recorded a gain of 20.70% compared to the decline of 11.73% in 2020.
The bond market also had its best performing year since its inception, recording a total volume trade of ¢208.81 billion which is a 92.62% increase from the ¢108.41 billion traded in 2020.
Financial performance
The Exchange improved its financial performance and recorded an income surplus of ¢31.13 million in 2021, higher than the ¢23.46 million recorded in 2020.
The registered surplus is the highest in the 31-year history of the Exchange.
The GSE Reserve Fund Investment also grew by 58.80%, representing ¢32.38 million, compared to ¢20.39 million in 2020.
Latest Stories
-
Man remanded for uploading nude videos of a lady he lured into a relationship
4 hours -
Explainer: What is the Cash Waterfall Mechanism?
5 hours -
Survivors of child trafficking overcome adversity, excel in tertiary education
6 hours -
Confront the barriers to your progress – Professor Lydia Aziato challenges the youth
6 hours -
Expertise France leads EU-funded initiative empowering African Journalists to combat human trafficking
6 hours -
Ghana Grows Programme empowers Ghanaian youth through Youth Policy Dialogue
6 hours -
Eastern NDC raises GHS5.4m to support Mahama’s 2024 campaign
6 hours -
Kumawood actress Akyere Bruwaa condemns death rumours
6 hours -
Ghana Institution of Engineering calls for proactive measures to prevent flood disaster
6 hours -
Who pays for the extra cost? – COCOBOD CEO questions EU on new regulations
7 hours -
‘Dumsor’ will be over by end of May – Former NPP MP assures
7 hours -
Power crisis is not about money – NPP Manifesto Committee member
7 hours -
Education Minister urges graduates to embrace opportunities
7 hours -
UN rights chief ‘horrified’ by mass grave reports at Gaza hospitals
7 hours -
We need more resources to deal with flooding – NADMO
7 hours