Ekow Afedzie, MD of Ghana Stock Exchange exchanging the MoU files with Linda Ampah, President of STN Ghana with support from the management team of both institutions
THE GHANA Stock Exchange (GSE) has signed a Memorandum of Understanding (MoU) with the Stanford Seed Transformation Network Ghana (STN) to groom and prepare the next pool of companies to list on the exchange.
STN Ghana is a network of graduates of the Stanford Seed Transformation Programme, an initiative of the Stanford Graduate School of Business, which seeks to introduce value enhancing activities for member companies.
This MoU seeks to make the exchange’s three (3) markets, the Main Market, the Ghana Alternative Market (or GAX) and the Fixed Income Market (GFIM) available to STN Ghana members to support them to raise capital and invest to support their expansion projects.
Managing Director of GSE said “the purpose of this MOU is to outline the partnership between the GSE and STN Ghana to assist STN’s members to take advantage of the capital raising and investments available on all of the GSE’s markets.”
As part of the partnership, the exchange will bring onboard and disseminate relevant market information to interested STN members.
It will further undertake complimentary market readiness assessments for interested companies within the STN database while there will also be joint sponsorship of market awareness and sensitisation workshops for members.
President of STN Ghana, Linda Ampah, said the STN fraternity was excited about the partnership with GSE because the latter provided a unique platform for its members to be able to raise long term capital to finance their long-term projects.
She added that the option of using equity or debt provided by the exchange’s platform was very refreshing and attractive for the members. “This will save the members from using short term loans to finance their long-term growth projects, which often results in high financing costs,” she noted.
The GSE is the best performing market in Africa so far this year, with gains of 24.56% on our Main Market for shares. Our Fixed Income Market has traded GH¢90 billion as of May 27 – over 80% of full year 2020.
Since 1990, the average annual returns on the GSE as measured by its composite index, is 25%.