The Ghana Stock Exchange (GSE) has marked its 31st anniversary of trading on the floor of the Exchange by ringing the ceremonial bell, to signify trading progress.
The 31st-anniversary celebration was themed ‘Digitalizing Stock Market Operations, a Catalyst for Capital Market Development’. This theme was born out of the current digital wave that is sweeping across all business sectors including stock market operations.
Dignitaries including the Minister of Public Enterprises, Regulator of the capital market, Chair of the GSE Council, Chief Executive Officers of listed companies and their representatives, Licensed brokers, and market players, were present to ring the bell.
The acceleration and adoption of new digital tools by companies to grow their businesses cannot be over-emphasized.
According to the Minister of Public Enterprises, Mr Joseph Cudjoe said, ‘The national digitalization agenda is on course and that no sector should be left out in this digital era.
He also advised that organizations should list on the Exchange to enhance their corporate governance and access patient capital to expand their businesses.’
In his address, The Director-General of the Securities and Exchange Economies, Rev Daniel Ogbarmey Tetteh said: ‘The regulator will continue to provide the enabling environment to support the digitalization of the capital market and also develop the relevant rules to guide the introduction of new products such as green bonds, asset-backed securities and other products.’
The Exchange started its digitalization journey as far back as 2009, where its trading was fully automated, and brokers traded virtually without coming to the trading floor.
This won the Exchange the most innovative African Stock Exchange by African Investor (Ai) in 2010.
The flotation of MTN’s initial public offer in 2018 where investors bought shares using mobile money also contributed to the Exchange being adjudged the most innovative Stock Exchange in Africa by the same organization.
Before the automation of trading, the Exchange had established an electronic clearing and settlement system culminating in the establishment of the Central Securities Depository in collaboration with the bank of Ghana.
Source: myghanadaily.com
