Ralph Mupita (2nd R) and Ekow Afedzi (R), are joined by other executives of MTN and the bourse in a group photograph
RALPH MUPITA, Group CEO of MTN, has commended the Ghana Stock Exchange (GSE) for providing a platform that mobilises capital to support the expansion and growth of companies.
He said the national economy gets a huge boost when companies grow from the injection of capital from the local bourse as more people get employed and the citizenry become the ultimate beneficiaries.
Mr. Mupita disclosed this when he embarked on a three-day working visit to Ghana recently and paid a courtesy call to the GSE.
He was there to express the group’s appreciation following the successful listing of Scancom PLC (MTN Ghana) in September 2018.
He also used the opportunity to get a first-hand account of the performance of MTN shares since the initial Public Offer (IPO) in 2018.
MTN has become a major player on the Exchange, currently contributing 24.52% and 39.88% of total volume and value traded on the market, respectively.
The visit, among other things, sought to strengthen the partnership between the two entities and to explore other areas of collaboration including digitisation, to bring more convenience and speed to the investing public.
Despite the devastating impact of COVID-19, the Ghana Stock Exchange saw its April year-to- date Composite Index posting a return of 31.93%, and the market capitalisation hitting GH¢60.8 billion, representing a growth of 10% versus last year.
The April year-to-date volumes traded was GH¢ 230.7 million, up 79% versus same period last year; and value traded, up 86% to GH¢184.5 million during the same period.
Ekow Afedzi, Managing Director of GSE, said retail and institutional investors should take advantage of the platform the exchange provides, to invest their funds in equities and the fixed income market as business activities were bouncing back in some sectors.
According to him, the exchange also provided an added value platform for companies to list as a public company to raise long term capital through the issuance of equities and bonds.
He added that in line with its three-year strategic plan, the Stock Exchange plans to introduce new products such as derivatives, green bonds and others into the market, to provide more liquidity and attractive investment options for existing and potential investors.