GSE rallies local firms to raise capital from the Exchange
THE Ghana Stock Exchange is rallying indigenous companies to list on the local bourse and raise medium and long-term capital to push their growth and expansion agenda
Managing Director of the GSE Ms Abena Amoah told journalists in Accra yesterday that the benefits in listing and raising capital from the three markets at the Exchange were numerous and worth exploring.
Ms Amoah was speaking at the ceremony where alcoholic and non-alcoholic beverage company , Kasapreko had registered with the Ghana Fixed Income Market to raise GH¢600million within a period of 5 years.
“The bond market is for all of us and on this market you can raise long term capital and the other thing is that as seen with Kasapreko, they raised money at 26 % when the market says if they had gone to probably a bank they would have paid 35%,” Ms Amoah stated.
According to Ms Amoah, another attractive thing about the market is that the market is about succession planning.
“There are too many companies that die with their founders but when you are the stock market then you have a chance to become a 100 year old or a 200 year old company , a company that raises money an goes global ,” She noted.
Ms Amoah said the GSE was committed to helping create global champions out of local firms.
According to her, it was fit and proper to invest in Ghana’s real sector, as it creates jobs for all.
Kasapreko’s capital raise was with the support of the Consolidated Bank Ghana and other financial institutions.
