Firms urged to take advantage of the GSE

Mr Ekow Afedzie, General Manager of the Ghana Stock Exchange, has advised Ghanaian companies to take advantage of the opportunities offered by the stock market to raise long term capital to finance their projects.

He said the desire by most companies in Ghana to contract short-term loans to finance long-term projects had been the bane to their growth and expansion that sometimes led to their folding up.

Mr Afedzie gave the advice at a day's workshop organised for members of the Ashanti Regional branch of the Association of Ghana Industries (AGI).

It was under the theme: "Long Term Financing, Ghana Stock Exchange Alternative".

''Lack of interest by some entrepreneurs and businessmen has made it difficult for them to appreciate the activities and opportunities offered by the stock market.''

He appealed to companies to open up and adopt appropriate measures to be listed on the market to enable them to raise long-term capital to expand their businesses.

Mr Wolanyo Amoah, Head of Listing at the GSE, said the stock market offered the ideal place for industries to nurture their dreams and visions to grow.

He said listing on the market did not only give long-term capital to companies but also improved their credibility and by so doing helped them to attract high calibre employees.

Mr Amoah explained that all companies including small and medium ones could be listed on the market provided they had profit record with creditworthy directors.

Mr David Darko Mensah, Ashanti Regional Chairman of AGI, said the lack of long term financing had been a major setback to many companies, especially the small and medium ones.

He, therefore, commended the GSE for the opportunity given members of the Association to be abreast with operations of the stock market, which might attract some of them to be listed to attract long-term capital to finance their businesses.