The Ghana Stock Exchange (GSE) index has recorded over 30 percent growth in the first quarter (Q1) of the year, beating its competitors in the West African sub-region as the best securities market.
The Managing Director, Abena Amoah has attributed the feat to renewed confidence in the market and an uptake in activities by investors on the bourse.
She is hopeful the growth will surpass other markets across the continent by close of the year.
Giving a closing remarks after beverage manufacturer, Kasapreko Plc took their turn on the “Fact Behind the Figures” series, Madam Amoah said the current economic performance will positively impact activities of the exchange.
Compared to its peers in West Africa, she disclosed that the GSE performed very well in the first quarter, highlighting a bright future for listed companies.
“As of May 18th, the GSE equities market has recorded a very impressive performance. Our index was up over 30 percent, the best in West Africa, our financial stock index was also up by about 33 percent and there is renewed investor confidence and robust market activity”, she said.
According to her, work is ongoing to improve capitalization of the GSE.
“Our market capitalization is over 143 billion cedis, a growth of over 70 percent compared to same period last year although still paltry as compared to the country’s Gross Domestic Growth, GDP”, she said.
She disclosed that trade volumes on the Fixed Income Market is also gradually picking up.
“On our Fixed Income Market, Volume traded so far is about 87 billion cedis versus 57 billion cedis same time last year, up by about 53 percent so there is some progress being made but there is still more to do” she said.
Kasapreko listing on GSE
Kasapreko PLC has announced plans to list about 25 percent equity shares on the main market of the GSE.
This is part of moves by the company to increase growth and scale up investments across the continent.
The Chief Executive of Kasapreko, Richard Adjei disclosed this to some shareholders and the investor community during the presentation of the Facts Behind the Figures series organized by the GSE.
Kasapreko has maintained an impressive growth trajectory since its listing on the Fixed Income Market, with 2024 revenue growing by 45% year-on-year to GHS 2.7 billion, driven by strong domestic sales and rising export demand.
Mr. Adjei disclosed that the board has given approval for listing equity shares on the main market by the end of 2025.
“Coming unto the bond market was very historic for us as a local beverage company and we are glad for the support received so far this year. Thanks to the board and the investors, we have received approval to list equities on the main market. Thanks to the Ghana Stock Exchange for pushing us to achieve this and also to our arrangers, we believe that we have to get more shareholders so we can take advantage of bigger markets”.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
