African markets

7 state entities shortlisted to be listed on the Ghana Stock Exchange

The Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, said about 7 public institutions have been shortlisted for listing on the stock exchange this year.

This comes after two committees – steering and technical [committees] – had to review the performance of some thirty companies.

She noted that the government of Ghana owns most of the market-ready companies, however, some operate in conjunction with the private sector.

Speaking at a press briefing in Accra, Abena Amoah said, “The GSE and SIGA have formed two committees, a steering committee and a technical committee. And throughout the last year, we’ve reviewed around 30 companies. From there, we came up with the first shortlist of about 18 companies, and narrowed it down to the first 7 companies that we think are ready for the market. The Ghanaian government owns 100% of many of these companies. Some of them in the larger group are in joint venture with other private sectors.

Speaking at a media meeting in Accra, Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, noted that the move is part of efforts to make state entities profitable and capable of contribute significantly to the development of the country.

In 2018, 2019, state-owned enterprises and specified entities lost 200%, according to an auditor general’s report.

As of 2020, public institutions show a loss of GH¢5.3 billion.

Ghanaian web