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Business News of Thursday, 14 February 2013

Source: Daily Graphic

Equity investors converge on Ghana

Ghana’s positive stories of a stable economic and peaceful political climate continue to attract investors to the country, with the latest being investors with appetite in equity investments.

The more than 30 securities investors are part of a team invited for an African investment roadshow by the Standard Bank Group, the parent company of Stanbic Bank Ghana, and will participate in the West African Investment Conference slated for Monday, February 18, 2013 at the Holiday Inn Hotel in Accra.

The Head of Global Markets at Stanbic Bank Ghana, Mr Inusah Musah, told a section of the media in Accra that the idea of the conference, which happens regularly in other operational areas of Standard Bank, was to introduce listed corporate institutions to the foreign investors to help them to make informed decisions.

”As Standard Bank group, we organise this conference from time to time. But for this particular West Africa edition, the aim is to introduce the investors who are drawn from across the world, to meet corporates and businesses in Ghana for first-hand and behind-the-figures information,” the head of Global Markets said.

He said besides the perky picture painted in the financial reports, the conference was an opportunity for investors to ask all the relevant questions, grasp the strategic directions and outlook of companies and appraise the physical capabilities of a company they want to invest in.

Mr Inusah and his colleague, Mr Fouad Idun-Ogde, who is the Head of Brokerage at Stanbic Ghana, posited that the conference would further help raise the appetite of the investors in Ghana stocks and help boost liquidity on the Ghana bourse.

Mr Idun-Ogde added: “This can boost the market and bring more bloc trades and activity onto the Ghana Stock Exchange.”

The Ghana Stock Exchange (GSE) has been working hard at improving liquidity on the bourse, shifting the attitude of many individual investors from holding on to stocks forever. The GSE is working to create a second tier on the market where smaller companies can list quickly and also improve liquidity on the market.

It is expected that should the foreign investors cultivate appetite for the Ghanaian stocks, it would improve the situation where willing sellers of stock would much quickly find willing buyers of the same stock, thereby making the market buoyant.

According to Stanbic Bank, the investors will hold one-on-one meetings with their local counterparts with options to strike deals and that the team would move on to Nigeria the following day.

It is the first time Standard Bank is organising the conference in Ghana and it intends to make it an annual event.