Ghana Securities and Capital Market
28th – 29th March, 2017
Accra, Ghana
“Ghana: Inclining Towards Becoming a Security-Oriented Market”
Parliament Passes Security Industry Bill
Basically it is to help us share the information and be cooperative with other regulatory bodies across the world. The new law has many new provisions that can help improve the industry. These include derivatives like the commodity exchanges,operation of nominee accounts to be operated as well as other issues like lending and borrowing.
On the Launch of Ghana Alternative Market
A cultural shift is needed to drive capital market development in Ghana and encourage companies to list. Capital market agents, who stand to be the beneficiaries of a developed capital market, should drive this work.
Ghana on Expanding Capital Market
Demutualization acting as a driving factor is changing the stock environment of Ghana inviting investors as partners. With the planned launch of Ghana Commodities Exchange (GCX) in 2017, the country is expecting a shift from subsistence farming to market oriented production in agriculture sector.
About the Event
Having overcome the challenges faced during the global economic and financial crisis in 2007, Ghana has fast become the third-largest growing economy in Africa and shown tremendous economic growth. With the course of time, the Government of Ghana has taken many strategic initiatives to open the gates for international investors entering the market. The country’s inclination towards becoming a security-oriented market has been justified with the latest developments in Ghana.
Ghana is all set to launch a commodities exchange and trading derivatives to strengthen the link between capital market and the agriculture sector. The introduction of Ghana Commodities Exchange (GCX) 2017 is aimed at growing Ghana’s economy. It will result in reduction in post-harvest losses through price stability, improvement in commodity price risk and credit risk management, provision of a transparent and competitive price discovery mechanism, reduction in transaction and marketing costs, and avoidance of making the mistakes of others. Apart from announcing its plans to issue 25.3 billion Cedis approximately by the end of 2016, the Government of Ghana also plans to rationalize the capital markets and move towards their integration in order to infuse increased liquidity in the economy.
Another option for local farmers remains Ghana Alternative Exchange (GAX) targeting on both start-up companies and existing SMEs. An increased number of listings on Ghana Alternative Exchange (GAX) and the implementation of an electronic bond market will add new dimensions to the Ghana Securities and Capital Market.
The Investment Climate of Ghana Financial Market has been affected by the taxes and laws recently accredited to Securities and Exchange Commission Ghana, with Capital Gain Tax diverging investors and Security Industry Bill enabling SEC attracting its own investments while engaging with other exchanges across the world. Adaptation of new Securities Law will be yet another strategic move towards flexibility of investment funds.
The multinational companies that have already initialized to list on the Ghana Securities Exchange for the year 2017 have been benefitted with an ease of buying and selling Ghana government securities matching the global standards. Even though Ghana has struggled to balance its debt levels, the GDP has manifested a steady growth of 3.9% at the end of 2015 that has attracted a lot of private and international investors. Similarly, the World Bank anticipates that the GDP will recover to 5.9% in 2016 and further to 8.2% in 2017, which in return will give rise to number of optimistic opportunities in the Ghana Securities and Capital Market.
Ghana Securities and Capital Market conference will bring together significant stakeholders from the industry including Policymakers, Investors, Research analyst who will deliver future prospects of Ghana’s Capital Market. It will present the repercussion of recently amended Security Industry Bill and the future aspects of it by scaling its potential. The conference will highlight the arising opportunities in Capital Market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange. Through this conference the keynote speakers would be able to identify the challenges that should be resolved, such as lack of laws and regulations pertaining to the commodity exchange; inadequate financial support; lack of trading infrastructure; inadequate volume; liquidity problem; smallholder farms; lack of understanding of trading instruments; and government/political interference on this end. The current policies suggest a need to enhance inadequate infrastructure and capacity building of market participants. Leading Economists, Money Managers and Directors will communicate their knowledge on subject matter including Ghana Bond Market, Cross Border Trading, and Financial Derivatives,etc.
The forthcoming conference taking stance for Ghana securities and Capital Markets 2017, scheduled 27th – 28th March 2017, aims to give an overview of the current trends and future scenario of Capital Market of Ghana, assisting Regional as well as Global investors to understand the key opportunities and Challenges which will influence the Capital Market.
The forthcoming conference taking stance for Ghana securities and Capital Markets 2017, scheduled 27th – 28th March 2017, aims to give an overview of the current trends and future scenario of Capital Market of Ghana, assisting Regional as well as Global investors to understand the key opportunities and Challenges which will influence the Capital Market.
The scheduled conference will focus on how to combat the issues faced by Ghana capital market by introducing solution and working cordially with the Sub-Saharan Capital Market.
- Future Aspects of Capital Market with the Beginning of Ghana Commodity Exchange
- Challenges Facing the Financial Market of Ghana with the Arrival of Capital Gain Tax
- Highlights on Positive Impact with the Implementation of Security Industry Bill on Capital Market
- The Future Prospects of Financial Derivatives in Ghana Capital Market
- Demutualization Acting as a Key Growth Factor of Ghana Stock Exchange
- Understanding the Opportunities Arising After the Merger of IFC and GSER
- Outlook on the Ghana Fixed Income Market
- Weighing the Key Issues Confronted by Investors and Ghana Stock Exchange
- Capitalizing the Growth Possibilities with Ghana Alternative Market
- Legitimacy of Cross Border Trading
Ghana Securities and Capital Market 2017 is an opportunity for investors, analysts and officers to understand the upcoming change in the Capital Market. Overcome challenges of developing Ghana’s framework and platform for new risk. Learn potential of the market & explore new business opportunities.
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“Ghana: Inclining Towards Becoming a Security-Oriented Market”
Parliament Passes Security Industry Bill
Basically it is to help us share the information and be cooperative with other regulatory bodies across the world. The new law has many new provisions that can help improve the industry. These include derivatives like the commodity exchanges,operation of nominee accounts to be operated as well as other issues like lending and borrowing.
On the Launch of Ghana Alternative Market
A cultural shift is needed to drive capital market development in Ghana and encourage companies to list. Capital market agents, who stand to be the beneficiaries of a developed capital market, should drive this work.
Ghana on Expanding Capital Market
Demutualization acting as a driving factor is changing the stock environment of Ghana inviting investors as partners. With the planned launch of Ghana Commodities Exchange (GCX) in 2017, the country is expecting a shift from subsistence farming to market oriented production in agriculture sector.
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GHANA SECURITIES AND CAPITAL MARKET 2017 |
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| Day 1: MARCH 28, 2017 | |||||
| 8.30 AM | REGISTRATION & COFFEE | ||||
| CHAIRMAN’S WELCOME REMARKS | |||||
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Outlook: An Overview on the Current Status of Ghana’s Capital Market
Ghana’s capital market, since its establishment has gone through various stages of developments. At present, the market is highly regarded as one of the best performing markets of the African Continent. Companies are continuing to list on the Ghana Alternative Exchange (GAX), the depository is installing a new working platform, and an electronic bond market is also in the making. Despite of the bad debt levels, the GDP manifested a steady growth of 3.9% at the end of 2015 for Ghana’s market attracting a lot of investors. The GDP is anticipated to recover in 2016 and further in 2017, increasing optimistic opportunities for investors.
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Understanding the Investing Landscape for Financial Players in Africa
Over the last five years, impact investing has gained strong momentum throughout Africa. Economic growth has taken root across much of the region. In many countries, exports are booming, foreign investment is on the rise and dependence on aid is declining. Encouragingly, ongoing structural changes, such as the emergence of pan-African banking groups and of mobile banking, are beginning to strengthen competition, to deepen African financial markets and to improve access to finance. Transforming the financing environment is the way to unleash Africa’s full potential, for the benefit of all Africans for generations to come.
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| 10.30 AM | Morning Coffee Break & Networking | ||||
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Tapping on Cross Border Trading to Access Bigger Pool of Funds
Trade among two nations is a potent way to boost international coalition as it helps in building long-lasting partnerships. It also proffers various opportunities for developing countries, as in some nations, official trade routes are off-limit to the public; therefore border-trades facilitates the majority of economic activity. Aiming at the potent capital market integration, Africa welcomed a glorious advent of cross-exchange trading between Ghana and Nigeria Exchanges which was one of the first examples of cross-border trading, where a broker in Ghana was able to buy shares on the Nigerian Stock. Cross Border Trading will exhibit great opportunities for many stakeholders in seeking regional trading blocs and also to construct integrated capital markets.
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Recent Developments in Regulatory Framework of Financial and Capital Markets
Since the outset of recent financial crisis, shielding financial stability has become the center of burgeoning topic in economic policy discussions. Vigorous efforts have been intensified to build stronger supervisory and regulatory frameworks for securities issuance, market conduct, monitoring and reporting, and clearing and settlement and also to encourage more financial integration while stemming the inherent risks.
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| 1.00 PM | Networking Lunch | ||||
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Growing Role of the Financial Market in the Ghanaian Economy
Commercial banks, despite their lack of involvement into the broader market, play the principal players in the Ghanaian financial sector with a domestic deposit base of about $1.3 billion. Regardless of the deposit base, Ghana still conducts business traditionally. The economic literature on “relationship banking” suggests that banks can contribute to alleviate the impact of sudden economic shocks on the investors. Thus, the contribution of financial markets in this area is necessary for maintaining the competitiveness of an economy, given the strongly increased international competition, rapid technological progress and the increased role of innovation for growth performance.
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Capital Gain Tax: Impacting the Investment Climate of Ghana Financial Market
Introduction of Capital Gain Tax has left the capital market in shock and full of concerns as it is likely to affect the growth ambitions of the Ghana Stock Exchange (GSE), as investors looking to make maximum return on investment will diverge to other markets for better incentives. Ghana with a Capital Gain Tax will thus give a competitive blow to GSE. The priority is being shifted towards macroeconomic stability and a robust regulatory framework for the growth of stock exchange.
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Adhering to Global Standards for Easy Sale and Purchase of Ghana Securities
The newly reformed Central Securities Depository (Ghana) Limited (CSD) will help in merging two platforms — debt and equity resulting in an electronically-based record system which aims to eliminate the use of physical certificates. In other words, it is a computerized data recording system that records individual security holdings at a central area for easy sale and purchase of securities. With the implementation of the CSD, there will be a gradual elimination of risk of loss, mutilation, destruction and theft associated with physical certificates.
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| 3.00 PM | Afternoon Coffee Break & Networking | ||||
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Building an Impact Investment Market in Ghana: Inviting Change
Impact investments particularly in a developing country such as Ghana can simply aid to develop innovative business strategies. With the current average private equity deal around US$36m and the average investment impact deal around US$2m, private equity firms to fully engage in impact investing it costs more to do. Impact Investing aims at providing investors with average market returns in lieu with solving major social and environmental problems. Thus, there is a need to look at opportunities and challenges in the financial services sector, agricultural sector, housing sector and energy sector as a catalyst for attracting Impact funds to the Ghanaian economy.
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| Q & A | |||||
| 5.00 PM | End of Day 1 | ||||
| Day 2: MARCH 29, 2017 | |||||
| 9.00 AM | CHAIRMAN’S WELCOME REMARKS | ||||
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Empowering the Growth of SMEs and Startups Through GAX
Small and Medium Scale Enterprises must tap into the Ghana Alternative Market (GAX) for long-term capital to ensure their growth and survival. GAX aims to raise the capital for local agricultural firms. It offers less stringent capital requirement and support start up companies and SME’s through training and incentives. It only requires a candidate’s business plan demonstrating an idea of profit earning by the end of three years.
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Analyzing and Overcoming the Challenges Faced by Ghana Bond Market
Ghana’s bond market is suffering predicament. In the past nine years, only five bonds have been issued by the Ghana Stock Exchange (GSE). The challenges faced include unfavourable economic environment, availability of other investment substitutes, the absence of institutional investors, and the lack of credit reference/rating agency. These challenges are to be understood deeply by the investors. The pension and insurance industries with their upcoming laws and policies will in a way promote capital market expansion with more flexibility for investment funds.
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| 10.30 AM | Morning Coffee Break & Networking | ||||
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Demutualization: Routing a Whole New Set of Possibilities for Ghana Stock Exchange
Demutualization is aimed at strengthening exchange markets to independently raise fresh capital for funding its activities, such as expansion and modernization. The exchange is being developed as a public–private partnership between the Ghanaian government and a consortium of local and international investors, including Ecobank Ghana, the International Finance Corporation; and 8 Miles Fund, a London-based private equity fund. Such moves are targeted at incorporating private sector expertise and efficiency into its operations. They will not only boost the profitability of the GSE but will also make it look attractive to companies that are not already in the market. |
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Highlighting the Key Aspects Associated with the Implementation of Newly Amended Security Industry Law
The Securities Industry Bill has been enacted to remove the regulatory overlaps and loopholes in the existing law and remove the provisions that are obstacles to the facilitation of Securities market development. It will improve the sector to fast track economic growth by strengthening the operational independence of the industry regulator to supervise activities in the capital market. |
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| Q & A | |||||
| 1.00 PM | Lunch | ||||
| 2.30 PM | End of Conference | ||||
*Agenda content and timeline subject to change.
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Hon. Dr. Rashid Pelpuo |
Hon. Dr. Rashid Pelpuo is a Ghanaian politician. He holds a PhD in Development Policy from the University of Ghana, African Studies. He is the currently Member of Parliament for Wa Central constituency in the Wa Municipal District in the Upper West Region of Ghana. He entered the Parliament of Ghana in 2005 after winning a seat on the ticket of the National Democratic Congress in the Ghanaian parliamentary election in December 2004. Hon. Dr. Pelpuo was appointed Minister for Youth and Sports by President John Atta Mills in September 2009 and was also appointed as Deputy Majority Leader of Ghana’s Parliament during 2010–12. He was voted as one of Ghana’s five Members of the Africa’s Parliament in South Africa where he served for a term until 2013. Also, he was formerly appointed as Minister of State at the Office of the President in Charge of Private Sector Development and Public Private Partnership (PPP) with John Mahama administration and also served as member of the Economic Management Team (EMT). |
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Dr. Johnson P. Asiama |
Dr. Johnson Asiama is a Deputy Governor of the Central Bank of Ghana. He is an economist with an extensive working experience at the Bank of Ghana. Dr Asiama holds a PhD (Economics) from the University of Southampton, UK and an MPHIL (Economics) from the University of Ghana, Legon. He has published in refereed journals in the area of monetary economics and economic growth and has a strong research interest in monetary policy modelling, economic stabilisation and long term growth in developing countries. |
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Jeffrey Ken Baiden |
Jeffrey is a results driven Investment Banker who has vast experience from local and international operations. Having a proven successful track in funds management, capital raising and Public Private Partnerships (PPP). Mr. Baiden is a Chartered Development Finance Analyst (CDFA). He is currently, the Chief Investment Officer for NIMED Capital Limited. He has an extensive expertise in financial advisory and capital raising, portfolio management, pension fund management, equity trading, macroeconomic analysis and reporting covering Ghana, Kenya, Mauritius, Nigeria, Morocco, and Egypt. He holds a Master of Science degree in Development Finance, Bachelor of Arts degree in Economics with Mathematics and a Diploma in Statistics all from University of Ghana. An analytical individual with logical approach to challenges. |
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Emmanuel K. Tsigbey |
Mr. Emmanuel K. Tsigbey is the Head of Business Development and Research at Standard Securities limited where he leads business development activities by developing marketing opportunities and strategies aimed at increasing and capturing a wider market share of the industry. He has several years of experience in financial advisory services with expertise in financial due diligence, business valuations, portfolio research, investment assessments, compliance among others. Also, he comes with vast experience in the stock brokerage industry in Ghana including; trading on the Ghana Stock Exchange, Financial Analysis, Portfolio Management, Investment Advisory Services and Research. He was part of NewWorld Securities’ two-man equity execution team that ranked fourth (4th) out of 22 brokerage firms in Ghana in 2012. He reports on Bloomberg, Thomson Reuters and CNBC Africa on the Ghanaian Stock Market and Macroeconomic issues in Ghana. Mr. Tsigbey holds an MBA (Finance) from Wisconsin International University and a Bachelor of Arts in Psychology from the University of Ghana. Emmanuel is licensed by the Securities & Exchange Commission Ghana as an Investment Advisor’s Representative. He has attended several courses both locally and internationally on the capital market. |
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Isaac Adjin Bonney |
Isaac Adjin Bonney, BBA, MFC, CA Gh, MIIA is the founder of Yennob Consulting Group. Mr. Bonney is a professional chartered accountant and principal internal auditor has over 10 years of experience of accounting, internal controls, auditing and taxation. He is a member of Institute of Chartered Accountants Ghana (ICAG) and the Ghana Chapter of Institute of Internal Auditors (IIA). |
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Williams Olowojoba |
Williams Olowojoba is a skilled financial professional with over 14 years of financial services industry and 6 years of practical management experience. Mr. Olowojoba is currently the Head CF&A at First Atlantic Brokers Limited Ghana. As a diligent and goal driven investment banker who has achieved success in a variety of roles with increasing levels of responsibility, Mr. Olowojoba expertly creates customized financial strategies to meet client needs. He is an effective communicator and team-builder with strong analytical, management and organizational skills. |
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Arnold Parker |
Arnold is currently, the Managing Director of the African Finance Bureau, a South African consumer finance firm based in Ghana with over 76,000 customers and an average 22 branches. Mr. Parker was formerly the Director of The Global Management Challenge, the world’s biggest competition on strategy and business management, Former Head of Commercial Banking at Access Bank and Head of Treasury Sales and Product Development at Intercontinental Bank. |
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Eugene Coal Gbedemah |
Mr. Eugene Coal Gbedemah is the founder of Brooks Investment Plus Limited. He is responsible for the overall direction of Brooks. His vision is to enhance Non–Banking and Finance sector in Ghana through the addition of Brook’s products and services. His hope is that Brooks will bring new jobs, businesses and ease the economic frailties in Ghana. He has worked extensively in the manufacturing sector and acted as financial consultant for many companies in Ghana and beyond. Mr. Gbedemah is an ACCA (Association of Certified Charted Accountants Uk) member and holds an Advance Diploma and Bsc. in Accounting. |
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Geoffrey Maison |
Mr. Geoffrey Fathers Maison is the CEO of Fincap Securities Limited, an innovative, technology-driven investment banking start-up. Mr. Maison has experience in equity research, valuation of both public and private companies and capital-raising. He was previously a Senior Analyst at Cal Brokers Limited. Mr. Maison was the Gold winner in the Young Investment Professional Under 28 category of the Ghana Investment awards (2014). Geoffrey holds an MBA in Finance from Coventry University and a BSc in Mathematics from the Kwame Nkrumah University of Science and Technology. |
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Kimathi Kuenyehia |
Mr. Kimathi Kuenyehia is an award winning Harvard-educated transactional lawyer who is ranked by Legal 500 as one of the top 5 leading lawyers in Ghana. He provides top-notch legal service to foreign governments, global multinationals and Fortune 500 companies doing business in Ghana. He is a past winner of the prestigious William Reece Smith Jr. International Bar Association Outstanding Young Lawyer of the Year for his “professional excellence, innovative approach to legal practice, community service and reputation for the advancement of legal ethics”. The first and only African to have won. Recommended as ‘outstanding on all matters’ by IFLR 1000, he is always the lawyer of choice for global multinationals with respect to their most challenging legal issues, most significant business transactions and most critical disputes. He was named a Young Global Leader for 2012 by the World Economic Forum in recognition of his ‘professional accomplishments, commitment to society and potential to contribute to shaping the future of the world through inspiring leadership’. Kimathi, who is admitted to practice law in Ghana and New York, is currently writing a book on Corporate Law and Practice in Ghana. |
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Delegate
$1099
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Exhibitor
$1499
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| All Conference Session | ||
| Conference Proceedings | ||
| On-Site Lunches | ||
| Refreshment Breaks | ||
| Table-Top Exhibiton Display | ||
| Logo Promotion | ||
| PDF Registration Form | Register | Register |
| Online | Register | Register |
Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this conference may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.
Note: All payments are made in USD.
Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.
Venue
Holiday Inn Accra Airport
Address: Pmb Ct 97, Cantonments, Accra, Ghana
Phone: +233 30 274 0930
Website: Holiday Inn Accra Airport
For Room Reservation, Contact Hotel at sales@holidayinnaccraairport.com
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