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Ghana: 18 to Be Listed On Ghana Stock Exchange

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About 18 State-Owned Enterprises (SOEs) are being considered for listing on the Ghana Stock Exchange (GSE) to attract indigenous capital and local participation in their operations, the Director-General of the State Interests and Governance Authority (SIGA), Stephen Asamoah-Boateng has said.

Mr Asamoah-Boateng who disclosed this yesterday, said the names of the companies, comprising both performing and non-performing ones, would be announced by the first quarter of next year.

Speaking on the second day of the 2020 Annual Policy and Governance Forum, organised by SIGA in Accra, he the move would ensure transparency as everyone would keep an eye on them.

The two-day event, which opened on Tuesday, was on the theme “SIGA: one year on: achievements, challenges and prospects,” and focused on activities of the Authority since its inception in August last year.

According to Mr Asamoah-Boateng, a maximum of 49 per cent of shares would be offloaded onto the stock market in the initial years until the deal yielded significant results.

“Government may hold the 51 just to be sure in the beginning but between any figure from 30 to 49, we will let go, If we find it very good, the government might let go of all 100,” he said.

Currently, Mr Asamoah-Boateng said, a technical committee made up of representatives from SIGA, GSE and the Ministry of Finance, was reviewing the companies and preparing ahead of the intended exercise.

Explaining the need for indigenous participation, he said the government wanted to prevent the situation whereby one strategic investor, usually foreigners, bought assets of companies, to allow Ghanaians do so and get the benefits.