As part of efforts to attract more investment into the country, the Ghana Stock Exchange, GSE, and the Ghana Investment Promotion Investment Centre, GIPC have signed an agreement to promote deeper alliance between the two institutions.
The Memorandum of Understanding, MoU, establishes a practical framework for developing greater partnership between the two institutions.
The GIPC and GSE which have the same aim of attracting and advancing investments into the country, will also pursue more innovative and proactive ways to attracting and retaining both Portfolio and Foreign Direct Investment, through the agreement.
Speaking at the signing ceremony, Managing Director of the Ghana Stock Exchange, Ekow Afedzie, noted that the move aligns with government’s plan of making Ghana the financial hub and the preferred investment destination in the sub-region.
He also noted that the move will also help both institutions leverage each other’s strength and networks to grow investment and support national economic development.
“Over the past years, GIPC has been promoting direct investments and we have been promoting portfolio investments and also facilitating mobilization of long-term capital in Ghana. So, we all have a common goal of attracting investors to Ghana, so it’s not too late coming to Ghana. This is going to be a realistic partnership because of the roles we play, which are quite complimentary, because as they look for direct investments there are some that can also come in as portfolio investors.
In other words, you’re not coming to say take 60% of the company and run it and all that, or you just want to buy shares in a company. So that’s the portfolio. The common goal is how to make Ghana our country, an attractive investment destination. So, it’s going to be practical because we started working with them. We’ll be with them during their various road shows locally and internationally to attract investors. We also invite them to join us as we speak to potential listed companies in Ghana,” he said.
Chief Executive Officer of the Ghana Investment Promotion Centre, Yofi Grant also said the move represents an important turning point for both institutions.
“The GIPC and the GSE have long been partners. Today’s signing of the MoU represents an important milestone under which we will jointly explore ways to work together to attract greater investment into the country and advance our visibility and connectivity with international markets”, he said.
The MoU was signed on behalf of the two institutions by Yofi Grant, Chief Executive Officer of GIPC and Ekow Afedzie, Managing Director of GSE, at the Centre’s head office in Accra.