Ekow Afedzie
Small and Medium-scale Enterprises (SMEs) are expected to list on the Ghana Stock Exchange (GSE) by the end of the first quarter of 2013.
?With the approval of rules, procedures and structures by the Securities & Exchange Commission (SEC), we are just getting ready to launch the new market by the end of the first quarter of 2013,? Ekow Afedzie Deputy, Managing Director of GSE disclosed.
He stated that the new market, to be known as the Ghana Alternate Market, is going to be different from other security markets.
?All the requirements and obligations have been relaxed for this particular market in order to groom and entice SMEs to get a little more transparent.?
Mr. Afedzie, who was speaking at the media launch of SEC?s 2012 Capital Market Week in Accra, said SMEs needed a minimum capital of GH?250,000, stated capital post flotation, a minimum of 20 shareholders and listing fee of GH?2,000.
Explaining why the GSE failed to launch the market this year as announced earlier, the Deputy Managing Director explained that ?because we want this market to succeed and help expand the fortunes of smaller companies, we had to take our time in outlining the rules and requirements, hence the delay.?
He noted that through the Ghana Alternate Market SMEs would be given the platform to grow and create employment opportunities while growing the economy.
Adu Anane Antwi, Director General of SEC, who officially launched the week, educated the public on the capital market and the benefits the economy could derive from the market to create wealth.
The capital market deals in stocks, bonds, and other long-term investments.
Touching on the theme for the celebration, ?Capital Market: An Investment Avenue for Securing Your Future Financial Well-being,? he said it was to emphasize the importance of the capital market as a provider of investment opportunities.
The week celebrations will commence on 29thOctober, 2012 and end on 4th November, 2012.
Staff of SEC and some market operators will embark on outreach programmes in selected tertiary institutions in six regional capitals ? Accra, Kumasi, Sunyani, Koforidua, Cape Coast and Takoradi when the celebrations kick off.
By Esther Awuah
