Some Stock Analysts have called for a policy that will compel multinational institutions to list on the stock market.
They believe their listing, coupled with the stability of the cedi and other sound economic policies will help retain a percentage of their profits in the country
The suggestion comes at a time that Ghana’s stock exchange has been reported as the worst-performer globally in the first quarter of the year, according to data tracked by Bloomberg.
The Analysts are optimistic this will also boost investment on the stock market.
According to figures from the Central Securities Depository Ghana Ltd, Foreigners accounted for 78 percent of stock sales in the first two months of the year.
In an interview with Citi Business News, Stock Market Analyst with UMB Stockbrokers, Kofi Busia Kyei said a policy must be established to compel Multinational institutions to list on the bourse.
“What we have control over is to ensure that we list the multinational institutions. We must get a policy to enforce and ensure that they list. It is within our remit to control this so we have to get those companies listed so that the dividends and profits that they make, a percentage will at least remain in the economy. It will lessen the pressure on the local currency.” He advised.
According to Bloomberg, the Ghana Stock Exchange Composite Index has lost more than 14 percent this year, making it the laggard in dollar terms among 94 global equities benchmarks.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana