Ghana Securities and Capital Market

28th – 29th March, 2017
Accra, Ghana

OverviewAgendaPresentersRegisterVenueContact

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.

 
Objective of the Conference

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.

KEY HIGHLIGHTS
  • 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
 
Be Our Partner

 

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.

 

KEEPING UP WITH THE INDUSTRY’S VIEWS

Robust Legal Backing: A Vital Need for Ghana Commodity Exchange Market

Posted on: 23 February 2017 

GCX Project is the first of its kind in the West African Sub-region and is expected to become operational. Further, the categorisation of the membership structure has enabled all market actors to participate in GCX activities through any category as part of the all-inclusiveness policy of the Exchange.

The participation by firms on the Exchange would afford them:

  • The opportunity to increase their clientele in terms of access to aggregators, farmers, traders and processors

  • To facilitate the process of trade, which would enable them to execute orders to buy or sell commodity contracts on behalf of clients and charging a commission

  • The opportunity to own proprietary rights to membership seats in the trading pit, which could increase in value over time, thereby making it possible for broking members to also trade on their own accounts to make profits.

  • Make them aware of the technological infrastructure to be deployed and protocols or policy on standards and grading of commodities to be traded in among other concerns.


The GCX operational model would present numerous opportunities to aggregators to continue to execute their role in the value chain business. The sensitization programme forms part of the awareness creation outreach campaign by the GCX Project to share information with prospective members on available opportunities when the Exchange is established. Source

The sensitisation exercise has afforded the stockbrokers the platform to know more about the regulatory and policy environment to ensure successful operations of the Exchange, the opportunities for auxiliary services in the transportation, logistics, haulage and warehousing continuum of the ecosystem. It has made them aware of the technological infrastructure to be deployed and the protocols or policy on standards and grading of commodities to be traded in among other concerns. Source


With latest developments aimed at bringing about a revolution in Ghanaian economy, Ghana Securities and Capital Market conference, scheduled on 28-29 March 2017 in Accra, Ghana, will shed light on the future aspects of capital market with the beginning of ghana commodity exchange which will bestow a lot at the time of this era of  modifying Ghanaian economy.

To find out more about Ghana Securities and Capital Market: Click here

To reserve your spot for Ghana Securities and Capital Market: Click here

Central Securities Depository Aiming at Boosting Ghana's Capital Market

Posted on: 16 February 2017 

Since the merger of the Ghana Stock Exchange (GSE) depository and the Bank of Ghana (BoG) CSD, the CSD has stepped up efforts aiming at positioning the capital market as a safe and value-base place to invest in. The interfacing of GSE's automated trading system (ATS) with the Real Time Gross Settlement System (RTGS) of the BoG, paved the way for settlement to be done on trades through bank accounts held at the Central Bank.

The depository's push for share dematerialization has also gained traction, with 87.6% of total shares being dematerialized. Of the 10.5 billion shares issued in the equity market in 2015, almost nine billion were in electronic form, making it easier for the respective shareholders to easily use their holdings as collateral for loans from the banks. As Ghana's financial market continue to open up to more investments, infrastructures such as the CSD would be needed to help compliment the stability that is needed on the macroeconomic side. Source

In line with recent development taking place in Ghana’s Capital Market, the conference Ghana Securities and Capital Market, scheduled on 28-29 March 2017, in Accra, Ghana, will bring attention to the themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, etc.

To reserve your spot Ghana Securities and Capital Market: Click here

Ghana Stock Market Continued Upward Trajectory: Discovering New Horizons

Posted on: 6 February 2017 

As stated by a recent report, third week trading on the Ghana Stock Exchange (GSE) continued upward trajectory as the bullish sentiments which characterised trading persisted on the Accra Bourse as investors’ appetite for Ghanaian equities ascended. In effect, the benchmark GSE-Composite Index rose by 1.4 per cent on a week-on-week basis to close at 1,759.3 points which points out a year-to-date return of 4.2 percent, as total volume traded hit 1.7 million shares which were valued at GH¢ 3.1 million. The financial sector continued to dominate trading as optimism clearly overshadowed caution as the advance to decline ratio came in at 5:1, with the financial sector dominant

The Ghana Stock Exchange (GSE) for the fourth week resumed with blooming trend and zest as trading activities registered in ten equities with four gainers.Volume traded was 290,395 shares which were valued at GH¢354,510.30. In effect, the benchmark GSE-Composite Index edged by 0.2%to close at 1,765.2 points, with a year-to-date return of 4.5%. The GSE-Financial Stock Index also rose by 0.3% to close at 1,650.2 points, representing a year-to-date return of 6.8 per cent. On the interbank market, the Ghana Cedi rose against all of its major trading currencies; it inched by 0.1% against the USD at a mid-rate of GH¢4.2430; edged 0.3% against the Euro at a mid-rate of GH¢4.5649; rose 0.2% against the Pound Sterling at a mid-rate of GH¢5.2955. Source1, Source2

Highlighting the growth of Ghana Stock Market, Chief Investment Officer, NIMED Capital Limited, at the Ghana Securities and Capital Market, scheduled on 28-29 March 2017 in Accra, Ghana will shed light on Ghana’s capital market which has witnessed an establishment that has gone through various stages of development. Further, the conference will bring together professionals from the Banks, Private Equity Firms, local Regulators, local and International Investors, and Financial service providers, Brokers, Mutual Funds, and Securities Agent in the sub-region to network and discuss the growing opportunities and challenges affecting the development of the Markets.

To reserve your spot Ghana Securities and Capital Market: Click here

A Broad-ranging Outlook on Ghana Securities and Capital Market

 Posted on: 31 January 2017

According to a new research, the GDP for Ghana is expected to reach a significant growth rate of 7.5% by 2018, showing a steady growth attracting investors. Despite the bad debt levels, the GDP manifested a steady growth of 3.9% at the end of 2015 as Ghana’s market attracted a lot of investors. Ghana has bloomingly become the third-largest growing economy in Africa and exhibited profound economic growth. With the course of time, the Government of Ghana has taken various strategic initiatives to broaden the horizons for international investors entering the market. The country’s proclivity for becoming a security-oriented market has been justified with the latest developments in Ghana. Ghana’s capital market is gradually developing and increasingly beginning to play pivotal role and helping to attract long-term capital for financing economic activities.

The vitality of capital market holds potential for notable contributions to Ghana’s robust, sustained economic expansion in consonance with national development. To bolster link between capital market and agricultural sector, Ghana has launched a commodities exchange. to revolutionize Ghana’s Agriculture through the establishment of the first modern commodity exchange in the country and also to create orderly, transparent and ready market for goods that are produced by farmers, as well as improve agricultural produce, in addition to help generate more opportunities for investment in the Ghanaian economy. It will also give a positive result with 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. The Government of Ghana plans to rationalize the capital market and move towards their integration in order to infuse increased liquidity in the economy.

An other option for local farmers remains Ghana Alternative Exchange (GAX) targeting on both start-up companies and existing SMEs. The burgeoning 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. 


In line with these developments, Trade Essential is organizing Ghana Securities and Capital Market Conference, scheduled on 27-28 March in Accra, Ghana. The conference will serve to underline the stability and potential of Ghana’s capital market. The discussion topics will draw attention on themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, also highlight the new government enforcement: Capital gain tax, and the amendments made in Security Industry Bill, to assist the investors and financial firms for tapping key opportunities that the market has to offer. 


Ghana Securities and Capital Market will further shed light on the initiatives promoting the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected through the proactive implementation of the Securities Laws. With the aim of advancing the growth of Ghanaian Economy, the conference will unfold the various aspects of Investing in Capital Markets solving major social and environmental problems, boosting the agriculture sector, Ghana Alternative Exchange (GAX) targeting growth of both start-up companies and existing SMEs. 


The conference will reach out to the professionals from the Banks, Private Equity Firms, Local Regulators, Local and International Investors, Financial Service Providers, Brokers, Stock Market Analysts, Managing Consultants, Chief Investment Officers, Director and Corporate Treasurers, Directors of Banking Institutions, Invest Promotion Managers, Chartered Accountants, Internal Auditors, Securities Dealers and Brokers, Business Consultants, Risk Management Officers, Group Executive Corporate & Investment Banking Heads Asset Managers, and Securities Agent in the sub-region, providing them an ideal platform to network and exchange information about growing opportunities and challenges influencing the development of the Markets with industry leaders from across the region. 


The priority is being shifted towards macroeconomic stability and a robust regulatory framework for the growth of stock exchange. To elucidate it further, Isaac Adjin Bonney Founder of Yennob Consulting Group will  share his expertise on Capital Gain Tax: Impacting the Investment Climate of Ghana Financial Market.

Ghana’s bond market 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. Drawing attention to the same, Eugene Coal Gbedemah, CEO of Brooks Investment Plus will talk on Analyzing and Overcoming the Challenges Faced by Ghana Bond Market.

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. To delve further on the potential of cross border trading, Geoffrey Maison, Research and Investment Banking Analyst at CAL Brokers Limited will give a presentation on Tapping on Cross Border Trading to Access Bigger Pool of Funds.

Africa represents a small percentage of the global investment banking business, but the activity is expected to witness an expansion in the years to come in view of existing economic opportunities. 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. In correspondence with the same, Hon. Dr. Rashid Pelpuo, Member of Parliament, Parliament of Ghana will help us Understanding the Investing Landscape for Financial Players in Africa.

Ghana Securities and Capital Market conference will present a platform to meet, network and receive updates from the eminent industry players with the aim to drive Ghana Securities and Capital Market forward. Also, it will prove to be a milestone in the  development of a viable and sustainable market for Ghana.

To reserve your spot for Ghana Securities and Capital Market: Click here 

Strengthening the Roots/Base of Ghana Stock Exchange through Demutualization

 

The shift towards demutualization of stock exchanges has become a trend in African stock exchanges. Stock markets in Africa are now engaging in the same process, the recent announcement of Ghana Stock Exchange at converting the exchange into a publicly listed entity like other 38 companies listed on the exchange.

This move is considered to be a step towards greater potential for profit. It will encourage investor participation, as both the institutional and retail investor will have the opportunity to buy shares of the exchange. The competitive environment has triggered the stock exchanges to reconsider the whole system and restructure it according to global need which will maximize the scale of profit as well as the reach of the market among investors. The demutualization process of Ghana Stock Exchange will able to ensure the financial stability of the exchange.

The process will not affect the services provided by the exchange, it will have a different structure of governance which will be represented by the board of directors. The main aim behind this move is to strengthen the exchange by letting it work independently and to bring fresh investment to fund its objective of modernizing and expanding the stock exchange.
Converting Ghana Stock Exchange into public entity will not just help in bringing new developments but will give the bourse freedom from the interference of the government while taking assistance from expertise to improve the efficiency of its operations.

As the exchange move towards demutualization is rapidly increasing the investors appears to be optimistic about the investment and further benefits for the investors.

Transforming the Agriculture Sector of Ghana through Commodity Exchange

 

Ghana Commodity Exchange (GCX), a body of regulatory framework, especially designed to boom agricultural sector by bridging the gap between market and farmers’ approach.

Since Ghana is largely an agriculture economy, the GCX will help in promoting Ghana’s important asset, i.e., agriculture and bring it to mainstream economy.

Setting a landmark move, this public-private body-owned venture, is the sole exchange of its kind, promoting agriculture and its products. The exchange will weave a ‘value-added channel’ by connecting Capital markets, Traders, Commodity Exporters, Agro-based industries to Small scale producers and Commercial Producers. Collectively, the exchange will unite these several bodies of business under the same platform of Agricultural development.

The exchange will not limit itself in providing business at both ends (suppliers and buyers) rather it will come up with the plan to create an infrastructure in the genre, to make it more outreach in nature. It can be seen strengthening the indigenous market for a long run with the formation of mutual fund for cocoa. It will help in engaging broad participation by domestic trades, agro-processing industries, stock administration, and other buyers.

Apart from cocoa, the other agricultural crops which come in the list of the exchange are maize, paddy, rice, palm oil, soya and groundnuts. Giving a say to the farmers in the economy, the exchange also opens a wide window for the investors to put their funds in the economy.
On the bright side of the Ghana’s economy, the proposed idea of commodity exchange retains sheer potential to be the topmost/noted/dominant West African hub. Envisaging a great future of Ghana, the Ghana Commodity Exchange is going to contribute a lot at the time of this era of Transforming Economy.

Since 56% of Ghana’s population is dependent on agriculture and it contribute largely in Ghana’s Economy, the commencement of GCX will improve agriculture produce and generate more opportunities for investors to invest in Ghana Economy. As an investor it is important to understand the basic as well as complicated information about GCX to enable to access the benefits of Ghana Commodity Exchange.

IFC and GSE Merger Catalysing Investing Estate

 

Investment matters a lot in any country’s dwindling economy. In Ghana, the practice of investment needs some audacious steps to be taken solely for the betterment of the country’s Capital Securities and Capital market.

As per investment experts’ opinion a great sum of disposable money possessed by the Ghanaian middle class can be used in the process of investment.

A combined effort in the form of merger in between IFC with GSE, the African Corporate Government Programme foresee to boom in the business performance. The merger is a comprehensive joint effort to attract local indigenous and foreign investors to come on board and start investing money in Ghana’s economy.

With the prime objective of growing country’s business culture, IFC consistently looks into several ways of contributing economic development, which can be hopefully attained by the IFC working along with GSE.

The much needed move taken up by the government (The African Corporate Government Programme) to raise awareness amongst the Ghana nationals for investing in the capital market, maintaining a sheer liquidity of the market. The move is backed up by the advent of improvised and better policies, reckoning local as well as foreign investors.

Needless to say, the abovementioned merger of IFC and GSE, has the potential to pave a successful terrain of Ghana’s economy. To see more implications, still one need to wait for the actual after-effects of the move on a long run.

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.

GHANA SECURITIES AND CAPITAL MARKET 2017 
28–29 March 2017
Accra, Ghana

Day 1: MARCH 28, 2017
 
8.30 AM REGISTRATION & COFFEE
  CHAIRMAN’S WELCOME REMARKS
 
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.

  Presenter:
Jeffrey Ken Baiden,
Chief Investment Officer,
NIMED Capital Limited

 

  
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.

  Presenter:
Hon. Dr. Rashid Pelpuo,
Member of Parliament,
Parliament of Ghana

 

10.30 AM Morning Coffee Break & Networking
 
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.

  Presenter:
Geoffrey Maison,
CEO,
Fincap Securities Ltd


 
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.

  Presenter:
Kimathi Kuenyehia,
Managing Partner at Kimathi & Partners,
Corporate Attorneys


1.00 PM Networking Lunch
 
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.

  Presenter:
Dr. Johnson Pandit Asiama,
Second Deputy Governor,
Bank of Ghana


 
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.

  Presenter:
Isaac Adjin Bonney,
Founder,
Yennob Consulting Group


 
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.

  Presenter:
Emmanuel Tsigbey,
Head–Business Development & Research,
Standard Securities Limited


3.00 PM Afternoon Coffee Break & Networking
 
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.

  Presenter:
Williams Olowojoba,
Head CF&A,
First Atlantic Brokers Limited



  Q & A
5.00 PM End of Day 1
 
Day 2: MARCH 29, 2017
 
9.00 AM CHAIRMAN’S WELCOME REMARKS
 
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.

  Presenter:
Arnold Parker,
Managing Director,
AFB (Ghana) PLC


 

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.

  Presenter:
Eugene Coal Gbedemah,
CEO,
Brooks Investment Plus


 10.30 AM Morning Coffee Break & Networking
 
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.

 
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.

  Q & A
 1.00 PM Lunch
 2.30 PM End of Conference

*Agenda content and timeline subject to change.

KEEPING UP WITH THE INDUSTRY’S VIEWS

Robust Legal Backing: A Vital Need for Ghana Commodity Exchange Market

Posted on: 23 February 2017 

GCX Project is the first of its kind in the West African Sub-region and is expected to become operational. Further, the categorisation of the membership structure has enabled all market actors to participate in GCX activities through any category as part of the all-inclusiveness policy of the Exchange.

The participation by firms on the Exchange would afford them:

  • The opportunity to increase their clientele in terms of access to aggregators, farmers, traders and processors

  • To facilitate the process of trade, which would enable them to execute orders to buy or sell commodity contracts on behalf of clients and charging a commission

  • The opportunity to own proprietary rights to membership seats in the trading pit, which could increase in value over time, thereby making it possible for broking members to also trade on their own accounts to make profits.

  • Make them aware of the technological infrastructure to be deployed and protocols or policy on standards and grading of commodities to be traded in among other concerns.


The GCX operational model would present numerous opportunities to aggregators to continue to execute their role in the value chain business. The sensitization programme forms part of the awareness creation outreach campaign by the GCX Project to share information with prospective members on available opportunities when the Exchange is established. Source

The sensitisation exercise has afforded the stockbrokers the platform to know more about the regulatory and policy environment to ensure successful operations of the Exchange, the opportunities for auxiliary services in the transportation, logistics, haulage and warehousing continuum of the ecosystem. It has made them aware of the technological infrastructure to be deployed and the protocols or policy on standards and grading of commodities to be traded in among other concerns. Source


With latest developments aimed at bringing about a revolution in Ghanaian economy, Ghana Securities and Capital Market conference, scheduled on 28-29 March 2017 in Accra, Ghana, will shed light on the future aspects of capital market with the beginning of ghana commodity exchange which will bestow a lot at the time of this era of  modifying Ghanaian economy.

To find out more about Ghana Securities and Capital Market: Click here

To reserve your spot for Ghana Securities and Capital Market: Click here

Central Securities Depository Aiming at Boosting Ghana's Capital Market

Posted on: 16 February 2017 

Since the merger of the Ghana Stock Exchange (GSE) depository and the Bank of Ghana (BoG) CSD, the CSD has stepped up efforts aiming at positioning the capital market as a safe and value-base place to invest in. The interfacing of GSE's automated trading system (ATS) with the Real Time Gross Settlement System (RTGS) of the BoG, paved the way for settlement to be done on trades through bank accounts held at the Central Bank.

The depository's push for share dematerialization has also gained traction, with 87.6% of total shares being dematerialized. Of the 10.5 billion shares issued in the equity market in 2015, almost nine billion were in electronic form, making it easier for the respective shareholders to easily use their holdings as collateral for loans from the banks. As Ghana's financial market continue to open up to more investments, infrastructures such as the CSD would be needed to help compliment the stability that is needed on the macroeconomic side. Source

In line with recent development taking place in Ghana’s Capital Market, the conference Ghana Securities and Capital Market, scheduled on 28-29 March 2017, in Accra, Ghana, will bring attention to the themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, etc.

To reserve your spot Ghana Securities and Capital Market: Click here

Ghana Stock Market Continued Upward Trajectory: Discovering New Horizons

Posted on: 6 February 2017 

As stated by a recent report, third week trading on the Ghana Stock Exchange (GSE) continued upward trajectory as the bullish sentiments which characterised trading persisted on the Accra Bourse as investors’ appetite for Ghanaian equities ascended. In effect, the benchmark GSE-Composite Index rose by 1.4 per cent on a week-on-week basis to close at 1,759.3 points which points out a year-to-date return of 4.2 percent, as total volume traded hit 1.7 million shares which were valued at GH¢ 3.1 million. The financial sector continued to dominate trading as optimism clearly overshadowed caution as the advance to decline ratio came in at 5:1, with the financial sector dominant

The Ghana Stock Exchange (GSE) for the fourth week resumed with blooming trend and zest as trading activities registered in ten equities with four gainers.Volume traded was 290,395 shares which were valued at GH¢354,510.30. In effect, the benchmark GSE-Composite Index edged by 0.2%to close at 1,765.2 points, with a year-to-date return of 4.5%. The GSE-Financial Stock Index also rose by 0.3% to close at 1,650.2 points, representing a year-to-date return of 6.8 per cent. On the interbank market, the Ghana Cedi rose against all of its major trading currencies; it inched by 0.1% against the USD at a mid-rate of GH¢4.2430; edged 0.3% against the Euro at a mid-rate of GH¢4.5649; rose 0.2% against the Pound Sterling at a mid-rate of GH¢5.2955. Source1, Source2

Highlighting the growth of Ghana Stock Market, Chief Investment Officer, NIMED Capital Limited, at the Ghana Securities and Capital Market, scheduled on 28-29 March 2017 in Accra, Ghana will shed light on Ghana’s capital market which has witnessed an establishment that has gone through various stages of development. Further, the conference will bring together professionals from the Banks, Private Equity Firms, local Regulators, local and International Investors, and Financial service providers, Brokers, Mutual Funds, and Securities Agent in the sub-region to network and discuss the growing opportunities and challenges affecting the development of the Markets.

To reserve your spot Ghana Securities and Capital Market: Click here

A Broad-ranging Outlook on Ghana Securities and Capital Market

 Posted on: 31 January 2017

According to a new research, the GDP for Ghana is expected to reach a significant growth rate of 7.5% by 2018, showing a steady growth attracting investors. Despite the bad debt levels, the GDP manifested a steady growth of 3.9% at the end of 2015 as Ghana’s market attracted a lot of investors. Ghana has bloomingly become the third-largest growing economy in Africa and exhibited profound economic growth. With the course of time, the Government of Ghana has taken various strategic initiatives to broaden the horizons for international investors entering the market. The country’s proclivity for becoming a security-oriented market has been justified with the latest developments in Ghana. Ghana’s capital market is gradually developing and increasingly beginning to play pivotal role and helping to attract long-term capital for financing economic activities.

The vitality of capital market holds potential for notable contributions to Ghana’s robust, sustained economic expansion in consonance with national development. To bolster link between capital market and agricultural sector, Ghana has launched a commodities exchange. to revolutionize Ghana’s Agriculture through the establishment of the first modern commodity exchange in the country and also to create orderly, transparent and ready market for goods that are produced by farmers, as well as improve agricultural produce, in addition to help generate more opportunities for investment in the Ghanaian economy. It will also give a positive result with 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. The Government of Ghana plans to rationalize the capital market and move towards their integration in order to infuse increased liquidity in the economy.

An other option for local farmers remains Ghana Alternative Exchange (GAX) targeting on both start-up companies and existing SMEs. The burgeoning 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. 


In line with these developments, Trade Essential is organizing Ghana Securities and Capital Market Conference, scheduled on 27-28 March in Accra, Ghana. The conference will serve to underline the stability and potential of Ghana’s capital market. The discussion topics will draw attention on themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, also highlight the new government enforcement: Capital gain tax, and the amendments made in Security Industry Bill, to assist the investors and financial firms for tapping key opportunities that the market has to offer. 


Ghana Securities and Capital Market will further shed light on the initiatives promoting the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected through the proactive implementation of the Securities Laws. With the aim of advancing the growth of Ghanaian Economy, the conference will unfold the various aspects of Investing in Capital Markets solving major social and environmental problems, boosting the agriculture sector, Ghana Alternative Exchange (GAX) targeting growth of both start-up companies and existing SMEs. 


The conference will reach out to the professionals from the Banks, Private Equity Firms, Local Regulators, Local and International Investors, Financial Service Providers, Brokers, Stock Market Analysts, Managing Consultants, Chief Investment Officers, Director and Corporate Treasurers, Directors of Banking Institutions, Invest Promotion Managers, Chartered Accountants, Internal Auditors, Securities Dealers and Brokers, Business Consultants, Risk Management Officers, Group Executive Corporate & Investment Banking Heads Asset Managers, and Securities Agent in the sub-region, providing them an ideal platform to network and exchange information about growing opportunities and challenges influencing the development of the Markets with industry leaders from across the region. 


The priority is being shifted towards macroeconomic stability and a robust regulatory framework for the growth of stock exchange. To elucidate it further, Isaac Adjin Bonney Founder of Yennob Consulting Group will  share his expertise on Capital Gain Tax: Impacting the Investment Climate of Ghana Financial Market.

Ghana’s bond market 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. Drawing attention to the same, Eugene Coal Gbedemah, CEO of Brooks Investment Plus will talk on Analyzing and Overcoming the Challenges Faced by Ghana Bond Market.

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. To delve further on the potential of cross border trading, Geoffrey Maison, Research and Investment Banking Analyst at CAL Brokers Limited will give a presentation on Tapping on Cross Border Trading to Access Bigger Pool of Funds.

Africa represents a small percentage of the global investment banking business, but the activity is expected to witness an expansion in the years to come in view of existing economic opportunities. 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. In correspondence with the same, Hon. Dr. Rashid Pelpuo, Member of Parliament, Parliament of Ghana will help us Understanding the Investing Landscape for Financial Players in Africa.

Ghana Securities and Capital Market conference will present a platform to meet, network and receive updates from the eminent industry players with the aim to drive Ghana Securities and Capital Market forward. Also, it will prove to be a milestone in the  development of a viable and sustainable market for Ghana.

To reserve your spot for Ghana Securities and Capital Market: Click here 

Strengthening the Roots/Base of Ghana Stock Exchange through Demutualization

 

The shift towards demutualization of stock exchanges has become a trend in African stock exchanges. Stock markets in Africa are now engaging in the same process, the recent announcement of Ghana Stock Exchange at converting the exchange into a publicly listed entity like other 38 companies listed on the exchange.

This move is considered to be a step towards greater potential for profit. It will encourage investor participation, as both the institutional and retail investor will have the opportunity to buy shares of the exchange. The competitive environment has triggered the stock exchanges to reconsider the whole system and restructure it according to global need which will maximize the scale of profit as well as the reach of the market among investors. The demutualization process of Ghana Stock Exchange will able to ensure the financial stability of the exchange.

The process will not affect the services provided by the exchange, it will have a different structure of governance which will be represented by the board of directors. The main aim behind this move is to strengthen the exchange by letting it work independently and to bring fresh investment to fund its objective of modernizing and expanding the stock exchange.
Converting Ghana Stock Exchange into public entity will not just help in bringing new developments but will give the bourse freedom from the interference of the government while taking assistance from expertise to improve the efficiency of its operations.

As the exchange move towards demutualization is rapidly increasing the investors appears to be optimistic about the investment and further benefits for the investors.

Transforming the Agriculture Sector of Ghana through Commodity Exchange

 

Ghana Commodity Exchange (GCX), a body of regulatory framework, especially designed to boom agricultural sector by bridging the gap between market and farmers’ approach.

Since Ghana is largely an agriculture economy, the GCX will help in promoting Ghana’s important asset, i.e., agriculture and bring it to mainstream economy.

Setting a landmark move, this public-private body-owned venture, is the sole exchange of its kind, promoting agriculture and its products. The exchange will weave a ‘value-added channel’ by connecting Capital markets, Traders, Commodity Exporters, Agro-based industries to Small scale producers and Commercial Producers. Collectively, the exchange will unite these several bodies of business under the same platform of Agricultural development.

The exchange will not limit itself in providing business at both ends (suppliers and buyers) rather it will come up with the plan to create an infrastructure in the genre, to make it more outreach in nature. It can be seen strengthening the indigenous market for a long run with the formation of mutual fund for cocoa. It will help in engaging broad participation by domestic trades, agro-processing industries, stock administration, and other buyers.

Apart from cocoa, the other agricultural crops which come in the list of the exchange are maize, paddy, rice, palm oil, soya and groundnuts. Giving a say to the farmers in the economy, the exchange also opens a wide window for the investors to put their funds in the economy.
On the bright side of the Ghana’s economy, the proposed idea of commodity exchange retains sheer potential to be the topmost/noted/dominant West African hub. Envisaging a great future of Ghana, the Ghana Commodity Exchange is going to contribute a lot at the time of this era of Transforming Economy.

Since 56% of Ghana’s population is dependent on agriculture and it contribute largely in Ghana’s Economy, the commencement of GCX will improve agriculture produce and generate more opportunities for investors to invest in Ghana Economy. As an investor it is important to understand the basic as well as complicated information about GCX to enable to access the benefits of Ghana Commodity Exchange.

IFC and GSE Merger Catalysing Investing Estate

 

Investment matters a lot in any country’s dwindling economy. In Ghana, the practice of investment needs some audacious steps to be taken solely for the betterment of the country’s Capital Securities and Capital market.

As per investment experts’ opinion a great sum of disposable money possessed by the Ghanaian middle class can be used in the process of investment.

A combined effort in the form of merger in between IFC with GSE, the African Corporate Government Programme foresee to boom in the business performance. The merger is a comprehensive joint effort to attract local indigenous and foreign investors to come on board and start investing money in Ghana’s economy.

With the prime objective of growing country’s business culture, IFC consistently looks into several ways of contributing economic development, which can be hopefully attained by the IFC working along with GSE.

The much needed move taken up by the government (The African Corporate Government Programme) to raise awareness amongst the Ghana nationals for investing in the capital market, maintaining a sheer liquidity of the market. The move is backed up by the advent of improvised and better policies, reckoning local as well as foreign investors.

Needless to say, the abovementioned merger of IFC and GSE, has the potential to pave a successful terrain of Ghana’s economy. To see more implications, still one need to wait for the actual after-effects of the move on a long run.

   

Hon. Dr. Rashid Pelpuo
Member of Parliament
Parliament of Ghana

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).

Dr. Johnson P. Asiama
Deputy Governor
Bank of Ghana

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.

Jeffrey Ken Baiden
Chief Investment Officer
NIMED Capital Limited

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.

Emmanuel K. Tsigbey
Head, Business Development & Research
Standard Securities Limited

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.

Isaac Adjin Bonney
Founder
Yennob Consulting Group

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).

Williams Olowojoba
Head CF&A First
Atlantic Brokers Limited

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.

Arnold Parker
Managing Director
AFB (Ghana) PLC

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.

Eugene Coal Gbedemah
C.E.O
Brooks Investment Plus

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.

Geoffrey Maison
CEO
 Fincap Securities Ltd

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.

Kimathi Kuenyehia
Managing Partner
Kimathi Partners, Corporate Attorneys

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.

KEEPING UP WITH THE INDUSTRY’S VIEWS

Robust Legal Backing: A Vital Need for Ghana Commodity Exchange Market

Posted on: 23 February 2017 

GCX Project is the first of its kind in the West African Sub-region and is expected to become operational. Further, the categorisation of the membership structure has enabled all market actors to participate in GCX activities through any category as part of the all-inclusiveness policy of the Exchange.

The participation by firms on the Exchange would afford them:

  • The opportunity to increase their clientele in terms of access to aggregators, farmers, traders and processors

  • To facilitate the process of trade, which would enable them to execute orders to buy or sell commodity contracts on behalf of clients and charging a commission

  • The opportunity to own proprietary rights to membership seats in the trading pit, which could increase in value over time, thereby making it possible for broking members to also trade on their own accounts to make profits.

  • Make them aware of the technological infrastructure to be deployed and protocols or policy on standards and grading of commodities to be traded in among other concerns.


The GCX operational model would present numerous opportunities to aggregators to continue to execute their role in the value chain business. The sensitization programme forms part of the awareness creation outreach campaign by the GCX Project to share information with prospective members on available opportunities when the Exchange is established. Source

The sensitisation exercise has afforded the stockbrokers the platform to know more about the regulatory and policy environment to ensure successful operations of the Exchange, the opportunities for auxiliary services in the transportation, logistics, haulage and warehousing continuum of the ecosystem. It has made them aware of the technological infrastructure to be deployed and the protocols or policy on standards and grading of commodities to be traded in among other concerns. Source


With latest developments aimed at bringing about a revolution in Ghanaian economy, Ghana Securities and Capital Market conference, scheduled on 28-29 March 2017 in Accra, Ghana, will shed light on the future aspects of capital market with the beginning of ghana commodity exchange which will bestow a lot at the time of this era of  modifying Ghanaian economy.

To find out more about Ghana Securities and Capital Market: Click here

To reserve your spot for Ghana Securities and Capital Market: Click here

Central Securities Depository Aiming at Boosting Ghana's Capital Market

Posted on: 16 February 2017 

Since the merger of the Ghana Stock Exchange (GSE) depository and the Bank of Ghana (BoG) CSD, the CSD has stepped up efforts aiming at positioning the capital market as a safe and value-base place to invest in. The interfacing of GSE's automated trading system (ATS) with the Real Time Gross Settlement System (RTGS) of the BoG, paved the way for settlement to be done on trades through bank accounts held at the Central Bank.

The depository's push for share dematerialization has also gained traction, with 87.6% of total shares being dematerialized. Of the 10.5 billion shares issued in the equity market in 2015, almost nine billion were in electronic form, making it easier for the respective shareholders to easily use their holdings as collateral for loans from the banks. As Ghana's financial market continue to open up to more investments, infrastructures such as the CSD would be needed to help compliment the stability that is needed on the macroeconomic side. Source

In line with recent development taking place in Ghana’s Capital Market, the conference Ghana Securities and Capital Market, scheduled on 28-29 March 2017, in Accra, Ghana, will bring attention to the themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, etc.

To reserve your spot Ghana Securities and Capital Market: Click here

Ghana Stock Market Continued Upward Trajectory: Discovering New Horizons

Posted on: 6 February 2017 

As stated by a recent report, third week trading on the Ghana Stock Exchange (GSE) continued upward trajectory as the bullish sentiments which characterised trading persisted on the Accra Bourse as investors’ appetite for Ghanaian equities ascended. In effect, the benchmark GSE-Composite Index rose by 1.4 per cent on a week-on-week basis to close at 1,759.3 points which points out a year-to-date return of 4.2 percent, as total volume traded hit 1.7 million shares which were valued at GH¢ 3.1 million. The financial sector continued to dominate trading as optimism clearly overshadowed caution as the advance to decline ratio came in at 5:1, with the financial sector dominant

The Ghana Stock Exchange (GSE) for the fourth week resumed with blooming trend and zest as trading activities registered in ten equities with four gainers.Volume traded was 290,395 shares which were valued at GH¢354,510.30. In effect, the benchmark GSE-Composite Index edged by 0.2%to close at 1,765.2 points, with a year-to-date return of 4.5%. The GSE-Financial Stock Index also rose by 0.3% to close at 1,650.2 points, representing a year-to-date return of 6.8 per cent. On the interbank market, the Ghana Cedi rose against all of its major trading currencies; it inched by 0.1% against the USD at a mid-rate of GH¢4.2430; edged 0.3% against the Euro at a mid-rate of GH¢4.5649; rose 0.2% against the Pound Sterling at a mid-rate of GH¢5.2955. Source1, Source2

Highlighting the growth of Ghana Stock Market, Chief Investment Officer, NIMED Capital Limited, at the Ghana Securities and Capital Market, scheduled on 28-29 March 2017 in Accra, Ghana will shed light on Ghana’s capital market which has witnessed an establishment that has gone through various stages of development. Further, the conference will bring together professionals from the Banks, Private Equity Firms, local Regulators, local and International Investors, and Financial service providers, Brokers, Mutual Funds, and Securities Agent in the sub-region to network and discuss the growing opportunities and challenges affecting the development of the Markets.

To reserve your spot Ghana Securities and Capital Market: Click here

A Broad-ranging Outlook on Ghana Securities and Capital Market

 Posted on: 31 January 2017

According to a new research, the GDP for Ghana is expected to reach a significant growth rate of 7.5% by 2018, showing a steady growth attracting investors. Despite the bad debt levels, the GDP manifested a steady growth of 3.9% at the end of 2015 as Ghana’s market attracted a lot of investors. Ghana has bloomingly become the third-largest growing economy in Africa and exhibited profound economic growth. With the course of time, the Government of Ghana has taken various strategic initiatives to broaden the horizons for international investors entering the market. The country’s proclivity for becoming a security-oriented market has been justified with the latest developments in Ghana. Ghana’s capital market is gradually developing and increasingly beginning to play pivotal role and helping to attract long-term capital for financing economic activities.

The vitality of capital market holds potential for notable contributions to Ghana’s robust, sustained economic expansion in consonance with national development. To bolster link between capital market and agricultural sector, Ghana has launched a commodities exchange. to revolutionize Ghana’s Agriculture through the establishment of the first modern commodity exchange in the country and also to create orderly, transparent and ready market for goods that are produced by farmers, as well as improve agricultural produce, in addition to help generate more opportunities for investment in the Ghanaian economy. It will also give a positive result with 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. The Government of Ghana plans to rationalize the capital market and move towards their integration in order to infuse increased liquidity in the economy.

An other option for local farmers remains Ghana Alternative Exchange (GAX) targeting on both start-up companies and existing SMEs. The burgeoning 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. 


In line with these developments, Trade Essential is organizing Ghana Securities and Capital Market Conference, scheduled on 27-28 March in Accra, Ghana. The conference will serve to underline the stability and potential of Ghana’s capital market. The discussion topics will draw attention on themes corresponding with the current status and future outlook of Ghana's securities and capital markets and will also continue to look towards changing trends in market of Ghana after the significant merger of International Finance Corporation and Ghana Stock Exchange, the benefits of the launch of Ghana Commodities Exchange and the Derivatives market, also highlight the new government enforcement: Capital gain tax, and the amendments made in Security Industry Bill, to assist the investors and financial firms for tapping key opportunities that the market has to offer. 


Ghana Securities and Capital Market will further shed light on the initiatives promoting the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected through the proactive implementation of the Securities Laws. With the aim of advancing the growth of Ghanaian Economy, the conference will unfold the various aspects of Investing in Capital Markets solving major social and environmental problems, boosting the agriculture sector, Ghana Alternative Exchange (GAX) targeting growth of both start-up companies and existing SMEs. 


The conference will reach out to the professionals from the Banks, Private Equity Firms, Local Regulators, Local and International Investors, Financial Service Providers, Brokers, Stock Market Analysts, Managing Consultants, Chief Investment Officers, Director and Corporate Treasurers, Directors of Banking Institutions, Invest Promotion Managers, Chartered Accountants, Internal Auditors, Securities Dealers and Brokers, Business Consultants, Risk Management Officers, Group Executive Corporate & Investment Banking Heads Asset Managers, and Securities Agent in the sub-region, providing them an ideal platform to network and exchange information about growing opportunities and challenges influencing the development of the Markets with industry leaders from across the region. 


The priority is being shifted towards macroeconomic stability and a robust regulatory framework for the growth of stock exchange. To elucidate it further, Isaac Adjin Bonney Founder of Yennob Consulting Group will  share his expertise on Capital Gain Tax: Impacting the Investment Climate of Ghana Financial Market.

Ghana’s bond market 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. Drawing attention to the same, Eugene Coal Gbedemah, CEO of Brooks Investment Plus will talk on Analyzing and Overcoming the Challenges Faced by Ghana Bond Market.

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. To delve further on the potential of cross border trading, Geoffrey Maison, Research and Investment Banking Analyst at CAL Brokers Limited will give a presentation on Tapping on Cross Border Trading to Access Bigger Pool of Funds.

Africa represents a small percentage of the global investment banking business, but the activity is expected to witness an expansion in the years to come in view of existing economic opportunities. 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. In correspondence with the same, Hon. Dr. Rashid Pelpuo, Member of Parliament, Parliament of Ghana will help us Understanding the Investing Landscape for Financial Players in Africa.

Ghana Securities and Capital Market conference will present a platform to meet, network and receive updates from the eminent industry players with the aim to drive Ghana Securities and Capital Market forward. Also, it will prove to be a milestone in the  development of a viable and sustainable market for Ghana.

To reserve your spot for Ghana Securities and Capital Market: Click here 

Strengthening the Roots/Base of Ghana Stock Exchange through Demutualization

 

The shift towards demutualization of stock exchanges has become a trend in African stock exchanges. Stock markets in Africa are now engaging in the same process, the recent announcement of Ghana Stock Exchange at converting the exchange into a publicly listed entity like other 38 companies listed on the exchange.

This move is considered to be a step towards greater potential for profit. It will encourage investor participation, as both the institutional and retail investor will have the opportunity to buy shares of the exchange. The competitive environment has triggered the stock exchanges to reconsider the whole system and restructure it according to global need which will maximize the scale of profit as well as the reach of the market among investors. The demutualization process of Ghana Stock Exchange will able to ensure the financial stability of the exchange.

The process will not affect the services provided by the exchange, it will have a different structure of governance which will be represented by the board of directors. The main aim behind this move is to strengthen the exchange by letting it work independently and to bring fresh investment to fund its objective of modernizing and expanding the stock exchange.
Converting Ghana Stock Exchange into public entity will not just help in bringing new developments but will give the bourse freedom from the interference of the government while taking assistance from expertise to improve the efficiency of its operations.

As the exchange move towards demutualization is rapidly increasing the investors appears to be optimistic about the investment and further benefits for the investors.

Transforming the Agriculture Sector of Ghana through Commodity Exchange

 

Ghana Commodity Exchange (GCX), a body of regulatory framework, especially designed to boom agricultural sector by bridging the gap between market and farmers’ approach.

Since Ghana is largely an agriculture economy, the GCX will help in promoting Ghana’s important asset, i.e., agriculture and bring it to mainstream economy.

Setting a landmark move, this public-private body-owned venture, is the sole exchange of its kind, promoting agriculture and its products. The exchange will weave a ‘value-added channel’ by connecting Capital markets, Traders, Commodity Exporters, Agro-based industries to Small scale producers and Commercial Producers. Collectively, the exchange will unite these several bodies of business under the same platform of Agricultural development.

The exchange will not limit itself in providing business at both ends (suppliers and buyers) rather it will come up with the plan to create an infrastructure in the genre, to make it more outreach in nature. It can be seen strengthening the indigenous market for a long run with the formation of mutual fund for cocoa. It will help in engaging broad participation by domestic trades, agro-processing industries, stock administration, and other buyers.

Apart from cocoa, the other agricultural crops which come in the list of the exchange are maize, paddy, rice, palm oil, soya and groundnuts. Giving a say to the farmers in the economy, the exchange also opens a wide window for the investors to put their funds in the economy.
On the bright side of the Ghana’s economy, the proposed idea of commodity exchange retains sheer potential to be the topmost/noted/dominant West African hub. Envisaging a great future of Ghana, the Ghana Commodity Exchange is going to contribute a lot at the time of this era of Transforming Economy.

Since 56% of Ghana’s population is dependent on agriculture and it contribute largely in Ghana’s Economy, the commencement of GCX will improve agriculture produce and generate more opportunities for investors to invest in Ghana Economy. As an investor it is important to understand the basic as well as complicated information about GCX to enable to access the benefits of Ghana Commodity Exchange.

IFC and GSE Merger Catalysing Investing Estate

 

Investment matters a lot in any country’s dwindling economy. In Ghana, the practice of investment needs some audacious steps to be taken solely for the betterment of the country’s Capital Securities and Capital market.

As per investment experts’ opinion a great sum of disposable money possessed by the Ghanaian middle class can be used in the process of investment.

A combined effort in the form of merger in between IFC with GSE, the African Corporate Government Programme foresee to boom in the business performance. The merger is a comprehensive joint effort to attract local indigenous and foreign investors to come on board and start investing money in Ghana’s economy.

With the prime objective of growing country’s business culture, IFC consistently looks into several ways of contributing economic development, which can be hopefully attained by the IFC working along with GSE.

The much needed move taken up by the government (The African Corporate Government Programme) to raise awareness amongst the Ghana nationals for investing in the capital market, maintaining a sheer liquidity of the market. The move is backed up by the advent of improvised and better policies, reckoning local as well as foreign investors.

Needless to say, the abovementioned merger of IFC and GSE, has the potential to pave a successful terrain of Ghana’s economy. To see more implications, still one need to wait for the actual after-effects of the move on a long run.

 
Delegate
$1099
Exhibitor
$1499
 All Conference Session
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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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