Vodafone to list on Ghana Stock Exchange

 

Vodafone Ghana has hinted to Citi Business News of its plans to list on the Ghana Stock Exchange (GSE) soon.

According to Vodafone Ghana its two main shareholders Vodafone group and the Government of Ghana are studying trends on the GSE to make the move.

The first Deputy Governor of the Bank of Ghana (BoG) Millison Narh had earlier called for a policy which will compel telecom operators in the country to list on the Ghana Stock Exchange to help address and reduce forex market pressures in the country.

But some industry players in the sector including the Ghana Chamber Telecommunications have argued that, Ghana will be sending the wrong signal to investors, if it compels telecom operators to list on the Ghana Stock Exchange (GSE).

According to the Chief Executive Officer of the chamber Kwaku Sakyi Addo the telecom industry is capital intensive and this makes it difficult for telecom companies to raise the required capital within Ghana to expand their business.

“This is a very capital intensive business and if that is the direction the managers of the economy wish to go or the stock exchange wish to go then we should make it attractive for companies to do so and make it irresistible for them to want to list on the stock exchange.”

Speaking to Citi Business News Chief Executive Officer of Vodafone Ghana Haris Broumidis said Vodafone has plans to list on the Ghana Stock Exchange. “I think it is in the plan and ambition of the shareholders because you know we have two shareholders. We have Vodafone Group and the Government of Ghana.

I am not a shareholder but as a Chief Executive Officer, I believe that the shareholders have it in their minds, that at a point in time the company must list on the Ghana Stock Exchange.”

source : Citifmonline.com