Companies advised to invest in stock market
Cape Coast (Central Region) 19 July 2000
Ghanaian owned companies have been advised to take advantage of facilities offered by the Ghana Stock Exchange (GSE) to gain access to long-term capital to improve their operations.
Mr Ekow Afedzi, Senior Manger, Marketing and Research Systems of the GSE, who gave the advice said this would help the nation's economy to grow, adding that investment in the stock market is not for personal interest alone, but for national development as well.
He was speaking at a day's seminar on Stock Exchange and Investment for businesswomen's groups at Cape Coast on Tuesday. The seminar was organised by the Cape Coast Club of Business and Professional Women -Ghana.
Mr Afedzi, said most local companies are not performing well because of their low capital investment.
He said despite the fact that the GSE has chalked a lot of successes it still faces a lot of challenges because only a few Ghanaian companies are trading with it. The few individuals who have bought shares are also not ready to sell.
Mr Afedzi said only two of the 23 companies trading with the GSE are indigenous with the rest being multi-nationals.
Mr Yoofi Grant, Executive Director of Data Bank asked the women to seek advice on the investments they intend to make.
He said Ghanaians should desist from trading in the dollar as a source of investment and rather invest in local companies or buy shares to help the economy to grow.
Mr Grant told the women not to keep large sums of money at home, but invest in ventures that would yield some more profits.
GRi../