28.2 C
Accra
Tuesday, November 29, 2022

GSE to demutualize exchange in first quarter of 2020

Must Read

Ghana Premier League Headline Sponsor betPawa hosts inclusive media roundtable

By: Akosua Adjei In order to elevate the Ghana Premier League, betPawa, in collaboration with notable sports media journalists and...

Resuscitate Ghanaian Industries to address Current Economic Challenges: Professor Annim

By Edzorna Francis Mensah The Government Statistician at the Ghana Statistical Service has called for an establishment of Integrated Shea...

Road Safety Authority steps up directives ahead of Christmas festivities

By: Michael Ahinsah Speaking to George Sappor on the Uniiq Breakfast Drive, Madam Pearl Sateckla Adusu, the Public Relations Officer...

The Ghana Stock Exchange (GSE) says talks are far advanced with stakeholders to follow international best practice to demutualize Exchange in the first quarter of next year.

Demutualization is the change in the legal status of the GSE from a mutual entity limited by guarantee to a company limited by shares.

Deputy Managing Director of GSE, Ekow Afedzie disclosed this on the sidelines of the presentation of the Exchange’s 2018 annual report and financial statements in Accra.

Mr Afedzie said a demutualization committee has been set up to work out modalities and implementation plan for the process.

This will ensure that the strategic plan addresses effectively stakeholders expectations and also lay out the transformational agenda of  GSE.

The Chairman of GSE, Albert Essien said 2018 was a very tough year for the Exchange, as cost were slightly higher than in 2017. He said though the banking sector disorganised investors, it created confidence and trust.

The GSE Composite Index which measures the performance of the entire market ended the year with a negative 0.29 percent compared with the 52.73 percent recorded in December 2017.

The GSE Financial stock index also recorded a negative 6.79 percent to the positive 49.51 percent recorded at the end of 2017.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Ghana Premier League Headline Sponsor betPawa hosts inclusive media roundtable

By: Akosua Adjei In order to elevate the Ghana Premier League, betPawa, in collaboration with notable sports media journalists and...

Resuscitate Ghanaian Industries to address Current Economic Challenges: Professor Annim

By Edzorna Francis Mensah The Government Statistician at the Ghana Statistical Service has called for an establishment of Integrated Shea Butter Processing Factories in the...

Road Safety Authority steps up directives ahead of Christmas festivities

By: Michael Ahinsah Speaking to George Sappor on the Uniiq Breakfast Drive, Madam Pearl Sateckla Adusu, the Public Relations Officer for the Road Safety Authority...

Africa projected to experience 5.3 million health worker shortage by 2030- WHO

By: Franklin ASARE-DONKOH The World Health Organization (WHO), has projected that Africa is likely to experience a 5.3 million health worker shortage by 2030. It explained...

Alumni of St. Thomas Aquinas declares intent to contest NDC Parliamentary Primaries in Upper East

By: Peter Agengre A Legal Practitioner, Lawyer Lamtiig Apanga, has declared his intent to contest the parliamentary primaries on the ticket of the National Democratic...

More Articles Like This