Business
Ghana stock exchange seeks alternative model to make money
The Ghana Stock Exchange (GSE) – which happens to be the the third largest capital market in sub-saharan Africa, after South Africa and Nigeria, is preparing for the launch of a second-tier market aimed at small and medium-sized enterprises.
The new market, to be known as the Ghana Alternative Investment Market (GAIM), will be launched in the first quarter of the year, according to GSE deputy managing director Ekow Afedzie.
Modelled on London’s Alternative Investment Market and the Johannesburg Stock Exchange’s AltX, GAIM will be a stepping stone for smaller companies that do not to meet the requirements to list on the GSE.
The minimum stated capital for listing will be ¢250,000 (US$130,000) compared with a minimum of ¢ 1million (US$520,000) on the main exchange.
Other proposed incentives for companies include not having to pay listing fees for the first two years. The GSE is finalising the guidelines for GAIM and must now present them to the Ghana Securities and Exchange Commission for approval.
