Investors on the Ghana Stock Exchange to receive an increase on returns for 2019, managers reveal

Investors on the Ghana Stock Exchange to receive an increase on returns for 2019, managers reveal

The managers of the Ghana Stock Exchange (GSE) have assured investors on the GSE to expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year.
   
   
   
       
       
           
               
                   

The managers of the Ghana Stock Exchange (GSE) have assured investors on the GSE to expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year.

               
           
               
                   

According to the Board Chair of the GSE, Mr Albert Essien, far-reaching initiatives are being taken to improve the performance, relative to 2018.

               
           
               
                   

He said, “The initiatives include preparation and adoption of a new strategic plan, irreversible steps towards the demutualization of the GSE, and plans to acquire a market surveillance system.”

               
           
               
                   

In 2018, investors on the GSE received low returns as the general performance of the bourse dipped.

               
           
               
                   

The GSE Composite Index which measures the performance of the entire market ended the year with a negative 0.29 percent compared to 52.7 percent recorded in December 2017.

               
           
               
                   

Also, the GSE Financial Stock Index recorded a negative 6.79 percent compared to the positive 49.5 percent recorded at the end of 2017.

               
           
               
                   

But the Board Chairman explained that the volume of shares traded for the year 2018 was 201 million shares valued at GH¢659 million compared to the volume and value of 322 million shares worth GH¢518 million respectively recorded in 2017.

               
           
               
                   

On financial performance, he stated that the exchange recorded a surplus of GH¢11.97 million in 2018, a little lower than the surplus of GH¢12.37 million recorded in 2017.

               
           
               
                   

He added that the GSE Reserve Fund also continued to grow. This growth will hence reflect the returns that will be paid to the investors for this year.

Source: Investors on the Ghana Stock Exchange to receive an increase on returns for 2019, managers reveal

- gist culled from pulseng