News Column

Ghana Okays ADB Listing on Bourse

July 7, 2014

Masahudu Kunateh

THE Agricultural Development Bank (ADB) has secured government's approval to list on the Ghana Stock Exchange.

The bank has already received consent from the Bank of Ghana, its biggest shareholder, to kic start the process on the local bourse, said Managing Director of the Ghana Stock Exchange, Kofi Yamoah.

ADB's plans to go public had in the past been delayed due to its inability to secure government's approval in the past .

Yamoah noted ADB's listing would go a long way to bring about some excitement on the market.

"The stock market is still the best avenue for raising long term finance," said Yamoah.

If ADB's plan materializes this year, it would join other government institutions like GOIL, GCB and SIC that have listed on the Ghana Stock Exchange.

Meanwhile, three companies are preparing to list on the alternate market of the bourse by end of this year.

Processed Food and Spices and Meridian Marshalls and Intravenous Infusions have already accessed capital from the listing fund to come enter the market.

The local bourse is committed to encouraging more small and medium enterprises to come onto the market, Yamoah stated.

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Source: AllAfrica

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