Story: Boahene Asamoah
A five-member committee has been formed to work out a framework for quick establishment of shareholders association in the country.
The members of the committee are Messrs Djaba Nyakotey, Sas George, Adu Anane-Antwi, Kwabena Abankwa Yeboah and Mrs Kwasima Dumor.
The committee was formed during a meeting organised by the Ghana Stock Exchange to facilitate the establishment of strong and vibrant shareholders association in the country.
At the meeting, the Managing Director of the Ghana Stock Exchange (GSE), Mr S.K. Yamoah, said it was important to promote the formation of a strong vibrant shareholders association to play a critical role in the development of the capital market.
He said there was the need to ensure constant education of shareholders on some of the best practices on the capital market, adding that it was only when shareholders were equipped with the necessary knowledge that they could make any meaningful contribution to the development of the stock market.
The General Manager of the GSE, Mr Ekwow Afedzi, gave an overview of the performance of the stock market during 2006 and said given the performance of the bourse, it was expected to continue its slow recovery from the bearish sentiments it experienced the previous year.
Mr Afedzi said the market was expecting to see some action for this year, stating that the exchange had a target to list a minimum of four companies for the year.
He said the automation programme was also likely to be completed during the course of the year, adding that the Central Depository System was also expected to be in operation this year.
He further stated that the GSE would host a conference of African Stock Exchanges in October as part of efforts to celebrate the Golden Jubilee celebrations.
Mr Nyakotey, in a report, said the stock market needed a strong regulatory framework and a high level of awareness creation among the general public.
He said there was the need to form a model shareholders association in the country.
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