Business News of 2014-01-09

GSE predicts 4 more listings on stock market this year

The Ghana Stock Exchange (GSE) has hinted that the stock market would witness about four additional listings this year.

Last year turned out as one of the worst for the local bourse in terms of new listings, as no new companies came on board. The local bourse currently has 34 companies listed on it.

Stock market analysts say the number of companies listed on the market is not good considering that the Stock Exchange has been in existence for 23 years. But Deputy Managing Director of the Exchange, Ekow Afedzi, told Joy Business he is hopeful 2014 would go down as one of the best years in terms of listing.

He underscored the need for companies to list on the bourse to make it more liquid and bigger. "If everybody [company] is sitting back and saying because the market is small they want to wait, I don't know who's going to list", he said.

The stock market ended last year recording almost 80% return on the average for persons who had invested in listed equities on the Exchange. Returns on stock market shares are usually far better than what is earned on investment products like treasury bills and even bank deposits.

Source: myjoyonline.com
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