Category: Analysis, strategy, charts and news. Country: Ghana.
Historically, the Exchange was set up with the following objects: to provide the facilities and
framework to the public for the purchase and sales of bonds, stocks, shares and other securities
to control the granting of quotations on the securities market in respect of bonds, shares and
other securities of any company, corporation, government, municipality, local authority or other
body corporate to regulate the dealings of members with their clients and with other members
to co-ordinate the stock dealing activities of members and facilitate the exchange of information
including prices of securities listed for their mutual advantages and for the benefit of their
clients to co-operate with associations of stockbrokers and Stock Exchanges in other countries,
and to obtain and make available to members information and facilities likely to be useful to them
or to their clients. Historical Background. The idea of establishing a Stock Exchange in Ghana lay
on the drawing board for almost two decades prior to its implementation. In February 1989, the
issue of establishing a stock exchange moved a higher gear when a 10 - member National Committee,
under the Chairmanship of Dr. G.K. Agama, then Governor of the Bank of Ghana, was set up by the
Government. Other members of the Committee were: Dr. Kobina Erbynn - Former Chief Executive, GIPC.
Mr. N. K. Kudjawu - Kudjawu & Co, Accra. Nana Wereko Ampem II - Former Chairman, Barclays Bank of
Ghana Ltd. Mr. Afare Donkor - Former Managing Director, CAL Bank. Mrs. S.Beata-Ansah - Ex Managing
Director, HFC Bank Ltd. Mr. E. J. A. Aryee - Former Managing Director, NTHC Ltd. Dr. J. K. Richardson - Former Managing Director, BAT Ghana. Mr. S. Y. Osafo-Maafo - Former Managing Director, National Investment Bank. Mr. Yeboa Amoa - Who became the Exchanges first Managing Director. The work of the committee was to consolidate all previous work connected to the Stock Exchange project and to fashion out modalities towards the actual establishment of the Exchange. As a result of the work of the committee, the Stock Exchange was established in July 1989 as a private company limited by guarantee under the Companies Code, 1963. It was given recognition as an authorized Stock Exchange under the Stock Exchange Act of 1971 (Act 384) in October 1990. The Council of the Exchange was inaugurated on November 12, 1990 and trading commenced on its floor the same day. The Exchange, changed its status to a public company limited by guarantee in April 1994. Governing Council. The Exchange is governed by a Council of thirteen representing Licensed Dealing Members, Listed Companies, Insurance Companies, Banks, Money Market Institutions and the General Public. The
Council acts as the Board of Directors, by virtue of the Stock Exchange Act 1971. Such functions
include maintaining good order among members, regulation of stock market business and granting
listing and publishing prices...
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