Ghana Stock Exchange gets new management

Mr K.S. Yamoah, has been appointed acting Managing Director of the Ghana Stock Exchange (GSE), following the retirement of the incumbent, Mr Frank Tweneboa.

Mr Yamoah who holds Bachelor of Science degree in Administration (Accounting Option) and a Chartered Accountant was the General Manager of the GSE.

A Statement issued in Accra by the Exchange in Accra named Mr Ekow Afedze, the current Senior Manager and a holder of Masters degree in Administration as the new General Manager.

The statement said the new management has a vision to make the Exchange more viable and relevant in the economic development of the country.

"To this end, efforts will be focussed in the short term at aggressive pursuit of listings including private sector listings and the divestiture of State-Owned-Enterprises through the Exchange.

This includes, " Positioning in the Exchange as an attractive investment avenue especially for domestic investors in a bid to boost in a significant way, trade volumes and liquidity on the market."

The new management also aims at pursuing avenues for the automation of the trading, clearing and settlement at the Exchange and the establishment of a national depository for securities.

The statement paid tribute to Mr Tweneboa who had worked with the GSC for 12 years as being part of the team that worked tirelessly for the successful growth and stabilisation of one of the best stock markets in Africa and in the third world.

This led to the GSE been voted twice, in 1994 and 1998 as the best stock market in Africa and among emerging markets.