The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities (from 37 companies) and 2 corporate bonds.[1] All types of securities can be listed. Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.[2] The GSE is located within the Cedi House in Accra.[3]
Since its inception, the GSE's listings have been included in the main index, the GSE All-Share Index. In 1993, the GSE was the sixth best index performing emerging stock market, with a capital appreciation of 116%. In 1994 it was the best index performing stock market among all emerging markets, gaining 124.3% in its index level. 1995's index growth was 6.3%, partly because of high inflation and interest rates.[4][5][6]
Growth of the index for 1997 was 42%, and at the end of 1998 it was 868.35 (see the 1998 Review for more information).[7] As of October 2006 the market capitalization of the Ghana Stock Exchange was about 111,500 billion cedis ($11.5 billion). As of December 31, 2007, the GSE's market capitalization was 131,633.22 billion cedis. In 2007, the index appreciated by 31.84% (see the "Publications" section on the GSE's website for more information).[4]
The manufacturing and brewing sectors currently dominate the exchange. A distant third is the banking sector while other listed companies fall into the insurance, mining and petroleum sectors.[8] Most of the listed companies on the GSE are Ghanaian but there are some multinationals.
Although non-resident investors can deal in securities listed on the exchange without obtaining prior exchange control permission, there are some restrictions on portfolio investors not resident in Ghana. The current limits on all types of non-resident investor holdings (be they institutional or individual) are as follows: a single investor (i.e. one who is not a Ghanaian and who lives outside the country) is allowed to hold up to 10% of every equity. Secondly, for every equity, foreign investors may hold up to a cumulative total of 74% (in special circumstances, this limit may be waived). The limits also exclude trade in Ashanti Goldfields shares. These restrictions were abolished by the Foreign Exchange Act, 2006 (Act 723).[9]
There is an 8% withholding tax on dividend income for all investors.[10]Capital gains on securities listed on the exchange will remain exempt from tax until 2015. The exemption of capital gains applies to all investors on the exchange. There are no exchange control regulations on the remittance of original investment capital, capital gains, dividends, interest payments, returns and other related earnings.
Potential changes at the exchange include the introduction of automated trading and the listing of some state banks. The Bank of Ghana plans the development of mutual funds, unit trusts and municipal bonds at a subsequent date. These changes are aimed at making the exchange more relevant, efficient and effective. The exchange was also involved in preparing the draft law on collective investment vehicles.
Hoursedit
The exchange has pre-market sessions from 9:30am to 10:00am and a continuous auction session from 10:00am to 3:00pm GMT on all days of the week except Saturdays, Sundays and holidays declared by the exchange in advance.[11]
Licensed brokersedit
The websites of licensed dealing members, or "LDMs", of the Ghana Stock Exchange typically include detailed information about the exchange, daily rates, company research and further links. Licensed brokers of the GSE include:
^"Ghana - Corporate - Income determination". taxsummaries.pwc.com. Retrieved 2023-09-29.
^"List of Stock Exchanges". www.wikinvest.com. Retrieved 2017-08-17.
January 01, 1970
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The Ghana Stock Exchange GSE is the principal stock exchange of Ghana The exchange was incorporated in July 1989 with trading commencing in 1990 It currently lists 42 equities from 37 companies and 2 corporate bonds 1 All types of securities can be listed Criteria for listing include capital adequacy profitability spread of shares years of existence and management efficiency 2 The GSE is located within the Cedi House in Accra 3 Ghana Stock ExchangeGhana Stock Exchangeclass notpageimage Location of Ghana Stock Exchange in GhanaTypeStock exchangeLocationAccra Greater Accra GhanaCoordinates5 33 20 N 0 12 08 W 5 555605 N 0 202153 W 5 555605 0 202153FoundedJuly 10 1989Key peopleKofi S Yamoah MD Ekow Afedzie DMD CurrencyGH No of listings42Market capUS 20 17 billion 2014 Websitegse com gh Contents 1 History and operations 2 Hours 3 Licensed brokers 4 See also 5 ReferencesHistory and operations editSince its inception the GSE s listings have been included in the main index the GSE All Share Index In 1993 the GSE was the sixth best index performing emerging stock market with a capital appreciation of 116 In 1994 it was the best index performing stock market among all emerging markets gaining 124 3 in its index level 1995 s index growth was 6 3 partly because of high inflation and interest rates 4 5 6 Growth of the index for 1997 was 42 and at the end of 1998 it was 868 35 see the 1998 Review for more information 7 As of October 2006 the market capitalization of the Ghana Stock Exchange was about 111 500 billion cedis 11 5 billion As of December 31 2007 the GSE s market capitalization was 131 633 22 billion cedis In 2007 the index appreciated by 31 84 see the Publications section on the GSE s website for more information 4 The manufacturing and brewing sectors currently dominate the exchange A distant third is the banking sector while other listed companies fall into the insurance mining and petroleum sectors 8 Most of the listed companies on the GSE are Ghanaian but there are some multinationals Although non resident investors can deal in securities listed on the exchange without obtaining prior exchange control permission there are some restrictions on portfolio investors not resident in Ghana The current limits on all types of non resident investor holdings be they institutional or individual are as follows a single investor i e one who is not a Ghanaian and who lives outside the country is allowed to hold up to 10 of every equity Secondly for every equity foreign investors may hold up to a cumulative total of 74 in special circumstances this limit may be waived The limits also exclude trade in Ashanti Goldfields shares These restrictions were abolished by the Foreign Exchange Act 2006 Act 723 9 There is an 8 withholding tax on dividend income for all investors 10 Capital gains on securities listed on the exchange will remain exempt from tax until 2015 The exemption of capital gains applies to all investors on the exchange There are no exchange control regulations on the remittance of original investment capital capital gains dividends interest payments returns and other related earnings Potential changes at the exchange include the introduction of automated trading and the listing of some state banks The Bank of Ghana plans the development of mutual funds unit trusts and municipal bonds at a subsequent date These changes are aimed at making the exchange more relevant efficient and effective The exchange was also involved in preparing the draft law on collective investment vehicles Hours editThe exchange has pre market sessions from 9 30am to 10 00am and a continuous auction session from 10 00am to 3 00pm GMT on all days of the week except Saturdays Sundays and holidays declared by the exchange in advance 11 Licensed brokers editThe websites of licensed dealing members or LDMs of the Ghana Stock Exchange typically include detailed information about the exchange daily rates company research and further links Licensed brokers of the GSE include in English Stanbic Bank Ghana in English IC Securities in English Databank Group in English Gold Coast Securities in English NTHC in English Securities Discount Brokers in English FirstBanC Brokerage Services Ltd in English Merban Stockbrokers LtdSee also editList of companies of Ghana GSE Composite Index List of African stock exchanges List of stock exchanges List of stock exchanges in the Commonwealth of NationsReferences edit Ghana Stock Exchange GSE Live afx kwayisi org Bragg Steven 2023 05 14 How to list on a stock exchange AccountingTools Retrieved 2023 09 29 The Ghana Stock Exchange Investment amp Capital 2022 10 13 Retrieved 2023 09 29 a b November 12 1990 The Ghana Stock Exchange is established Edward A Ulzen Memorial Foundation 2017 11 12 Retrieved 2023 09 29 Tetteh Joseph Emmanuel Amoah Anthony Ofori Boateng Kenneth Hughes George 2022 09 01 Stock market response to COVID 19 pandemic A comparative evidence from two emerging markets Scientific African 17 e01300 doi 10 1016 j sciaf 2022 e01300 ISSN 2468 2276 PMC 9328840 PMID 35915599 Mlambo C Biekpe N January 2001 Investment Basics XLIV Review of African stock markets PDF Investment Analysts Journal 30 54 61 65 doi 10 1080 10293523 2001 11082432 ISSN 1029 3523 S2CID 154931760 Kofi Peter 2011 01 01 Certified by a href Template Cite journal html title Template Cite journal cite journal a Cite journal requires journal help PricewaterhouseCoopers Financial services PwC Retrieved 2023 09 29 Ghana Stock Exchange Mbendi Website mbendi co za 2019 01 23 Retrieved 2023 09 29 Ghana Corporate Income determination taxsummaries pwc com Retrieved 2023 09 29 List of Stock Exchanges www wikinvest com Retrieved 2017 08 17 Retrieved from https en wikipedia org w index php title Ghana Stock Exchange amp oldid 1187557635, wikipedia, wiki, book, books, library,
