Capital Markets

Sector stabilisation and reform are key focuses within the capital markets arena. While the regulator is taking steps to shore up market confidence in light of recent banking and asset management reforms, the long-term ambition of authorities is to introduce new products and services to attract the capital flows necessary for a deeper and more sustainable market. Ghana’s principal exchange is the Ghana Stock Exchange (GSE), which as of the first quarter of 2019 had 33 companies listed on its main board. In terms of market capitalisation, the GSE is dominated by the mining and petroleum sectors, which accounted for 52.5% of the total in 2018. The financial sector is the second-biggest component, contributing 23.85% to total market capitalisation, followed by ICT (15.88%), food and beverages (2.71%), and distribution (2.66%). This chapter also contains interviews with Cecilia Hesse, Managing Director, Temple Investments; and Ekow Afedzie, Managing Director, Ghana Stock Exchange.