Abena Amoah
The Ghana Stock Exchange (GSE) has launched the Over-The-Counter Market trading to give rural banks and small and medium enterprises the platform to raise capital through trading of securities that are not listed on the bourse.
The move is a significant step towards expanding financial inclusion across the country.
Managing Director of the GSE, Abena Amoah expressed confidence that the product will support the growth of the capital market.
She called on small business owners to take advantage of the platform to seek affordable funding to expand their operations.
“We believe that as a stock market, this platform is needed to encourage small businesses and the community banks to raise funds and also for shareholders to offload shares smoothly. This is a step in the right direction to support growth and expansion,” she said.
She explained that the platform is part of the general master plan by the Securities and Exchange Commission, together with the Ghana Stock Exchange to grow the country’s capital market.
According to her, the Over-The-Counter Market is expected to attract all the rural and community banks which are not listed on the stock exchange to have an opportunity to trade their shares.
Ms. Amoah disclosed that the initiative will strengthen the operations of the banks as well as give investors more options.
Chief Executive for the ARB Apex Bank, Alex Kwasi Awuah welcomed the development and described it as an opportune moment for rural banks to raise patient capital.
“As community and rural banks, you know we are not listed on the stock market but we need investors to support our operations so we can serve our rural folks. This is a good opportunity for many of us. We believe this will help strengthen us,” he said.
All the rural and community banks are expected to register and be part of the new platform.
A Business Desk Report