The Ghana Stock Exchange (GSE) has indicated it is working hard to reduce concentration risk on the capital market, a move that will reduce losses as a result of an economic shock.
According to its Managing Director, Abena Amoah, this is being done with the introduction of additional products on the market such as a commercial paper market, which is awaiting approval from the Securities and Exchange Commission.
Addressing market participants at a GSE Facts Behind Figures Programme, Ms. Amoah said her outfit is committed to growing a sustainable capital market.
“The other product I want to talk about as we work around diversification is the commercial paper market. We’ve been working with a whole bunch of stakeholders to implement the commercial paper market”.
“From a very wide stakeholder groups…from Fund Managers to our Central Bank to Issuers to the Brokerage Community to the Banks Association, we have studied a few models around the world and we have developed a framework and rules for our commercial paper market”.
Ms. Amoah is hopeful the commercial paper market will be launched this year.
She called on Societe Generale and all other partners to look at the commercial paper market as a viable financing tool for the real sector.
“Again, as we look to financing the real sector, we call on Societe Generale and all other partners to look at this product as a viable financing tool for the real sector.”
“We want to show competitiveness, we want to show speedy financing solutions that address the challenges of entrepreneurs in Ghana”, she concluded.