Kofi Ahovi

  Nearly two years since the takeoff of the Africa Continental Free Trade Agreement (AfCFTA), not much trade has taken place despite continued optimism surrounding the agreement which has the potential to rake in some US$3 trillion for all countries. It is reported that in Ghana, only two shipments have been successfully completed since the trade officially began in the first quarter of 2021, begging the question: Why much trading activity has not been done yet? According to Trade Practitioner and AfCFTA Expert, Louis Yaw Afful, one of the reasons that accounted for a seemingly slow start to trading is the finalisation of the rules of origin. Rules of origin are the criteria needed to determine the nationality of a product to support preferential trade liberalisation. Finalise rules of origin Afful, who is the Executive Director of AfCFTA Policy Network (APN) Group, indicated that progress for the finalisation of the rules of origin stands at 87.13 per cent. Also, one of the diffic...

  Asante Gold Corporation has started trading on the Ghana Stock Exchange after it received approval from both the Ghana Securities and Exchange Commission and the Ghana Stock Exchange. Trading commenced under the symbol ‘ASG’ at the opening on June 29, 2022 with an initial listing price of GHS 8.87. The number of Ordinary Shares listed by introduction was 315,007,462 with a market capitalization of GHS 2.79 billion. In a press release copied to BusinessWeek Ghana , Douglas MacQuarrie, Non-Executive Chairman stated, It is with a great sense of ‘having arrived’ that Asante is now listed on Ghana’s premier stock exchange, one of the best performing stock exchanges in Africa in 2021. This listing complements our listings in Canada and in Germany and provides our Ghanaian shareholders, and potential new investors, the opportunity to invest and trade their shares locally in Ghana.” Asante’s CEO, Dave Anthony, added, “Asante has significant ownership by both private Ghanaian investors an...

The Ghana Stock Exchange benchmark GSE Composite Index (GSE-CI) at the close of trading on Thursday gained 0.60 percent to close trading at 3,000.63 translating into a YTD return of 54.54%. The GSE Financial Stock Index (GSE-FSI) also gained 1.09 points to close trading at 2,077.81 translating into a YTD return of 16.55%.  Read also: IC Securities launches first GSE authorised digital trading platform Cal Bank PLC. (CAL) gained GH¢0.01 to close at its new year high of GH¢0.86  thus pushing the market capitalization up by GH¢6.27 million to close at  GH¢65.69 billion representing a growth of 20.82% in 2021.  A total of 218,974 shares valued at GH¢284,297.08 was traded in ten (10)  equities; a decline in trade turnover as compared to Wednesday’s volume of  790,310 valued at GH¢1,121,454.86.  CalBank PLC recorded the most trades, accounting for 48.7% and 73% of value and volume traded respectively.