GSE optimistic equity market would rebound next year

GSE optimistic equity market would rebound next year

The Ghana Stock Exchange is optimistic its equity market would rebound next year when the economy is expected to grow above 4.5 percent.

The market has gone through turbulent times this year largely because of the impact of covid-19, but has since October stabilized though registering an annualized return of about -19 percent.

Speaking at the Fact’s Behind Figures programme in which Enterprise Group took its turn, Managing Director, Ekow Afedzie said the exchange is implementing measures to increase listings next year.

“We believe that the equity market will grow next year with all the talk about Ghana’s recovery in terms of the economy going forward. As we speak, Enterprise Group has a market capitalization of about ¢240 million and that’s very attractive,” he said.

He went on to appeal to investors to start investing again since the stock market is gradually gaining stability.

“I’m appealing to investors to start looking at this group again and all the other equities on the market. The marketing is becoming quite attractive again when you look at all the results being churn out by the listed companies. As a stock exchange, strategically we are putting in place various initiatives that will lead to increasing listing and improving liquidity on the market next year,” he stated. Benchmark indices Level YTD GSE Composite Index 1,810.09 -19.81% GSE Financial Stock Index 1,623.20 -19.63% Market Capitalization GH¢52,995.83 -6.68% Meanwhile, Enterprise Group is promising outstanding results for this year and going into the future.

The company bagged a whopping profit of GH¢108 million in the nine months of this year despite losses in equity investments.

The Group Deputy Chief Executive, Daniel Larbi Tieku is hopeful that the future is bright for his outfit.

“We think that the future looks very bright for Enterprise Group Plc. Our position is to continue to deliver value to our shareholders, we seeking to improve on our new business lines which will apply innovation and technology on the back of our new operating module. We are very positive that we will continue with the thread that we’ve seen in the first three quarters into the end of the year. So we are very hopeful that we will sustain that growth level,” he said.

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