The Ghana Stock Exchange (GSE) has told Citi Business News the exchange is set to launch an alternative stock exchange which will focus on businesses with the potential for growing including SMEs.
The launch is part of moves by the GSE to encourage listings and ultimately improve liquidity on the bourse. Though over 30 companies are currently listed on the Ghana Stock exchange, only a few indigenous SMEs are among this number.
The GSE climbed to the 3rd largest stock exchange in Africa after South Africa and Nigeria following Tullow Oil PLC�s listing last year.
Market analysts, however, say the increase in capitalization would not necessarily translate into a vibrant market until more SMEs are encourage to list on the exchange.
The Managing Director of the GSE, Kofi Yamoah, told Citi Business News that the launch of an SME market will give small businesses the opportunity to also benefit from the bourse.
�We�ve gone a long way and now we are soliciting for funds so that it will grow to the proprietorship stage in terms of coming into the market,� he said.
�The fund will essentially go into helping SMEs that are desirous of listing in terms of recruiting consultants that will do the financial and legal due diligence and possibly fund part of the proprietorship cost free of charge.�
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