The Ghana Stock Exchange is to partner the London Exchange to help develop some of the capital markets infrastructure that can sustain and deepen its financial market.
It follows a cooperation agreement between the two bodies on the sidelines of the Ghana UK Business Council Meetings in London on Monday.
The event was witnessed by Ghana’s Vice President Dr. Mahamudu Bawumia and CEO and Director of International Development of the LSE, Nikhil Rathi.
Dr. Bawumia was hopeful the cooperation with the London Stock Exchange will position Ghana to become a financial service hub in Africa.
“Our financial systems should be robust enough to support local businesses as well as international investors adding that we consider cooperating with the LSE as a step in the right direction,” Dr. Bawumia indicated.
A working group to be led by Ghana’s finance ministry and the LSE’s emerging markets division are to see to the effective realization of the objects of the cooperation agreement.
The performance of the Ghana Stock Exchange dropped last year after its composite Index stood at -0.29 percent in 2018, down from 52.73 percent of the year before.
A banking reform that took out two banks in 2017 and seven more last year has had its toll.
Not only on the stock market, but also on the labor front, with more than 10,000 jobs gone in a population of below 30 million.
Source: Africafeeds.com
