Ghana sets pace in W/A with plans to list 750 million Eurobond on GSE

Ghana sets pace in the West African sub-region as it plans to list the country's second Eurobond on the Ghana Stock Exchange (GSE) next month.

The move is expected to give local investors an opportunity to actively trade in the Bond.

According to lead managers of Bond, this would also be the second time a sovereign is being traded on a local bourse in the whole Africa, after a similar move by South Africa.

Speaking to Joy News at a forum in New York, Chairman of the governing council of the Ghana Stock Exchange, Dr Sam Mensah, said the listing would boost the development of the GSE.

"The fact that it is listed on the Ghana Stock Exchange is symbolic...It is a vote of confidence in the Ghana Stock Exchange and reflects government's policy to create a dynamic bond market", said Dr Mensah.

He adds that Ghanaians who have bought into the Bond would be able to trade in it locally while making gains from a bond that is international and "very liquid".

Dr Mensah said the Bond will also be traded on the Irish Stock Exchange because of its shorter time frame, adding that the Irish Stock Exchange has a shorter turn around.

"A lot of emerging markets are now listing on the Irish Stock exchange and that is an internationally recognised stock exchange", he said.

According to him the move presents a lot of possibilities for traders in the Bond.

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