The Ghana Alternative Market (GAX), the special equity market for small and medium enterprises (SMEs), will this week list its sixth company, Pesewa ONE Plc, â€œPOPâ€.
According to a release from the Ghana Stock Exchange (GSE), Pesewa ONE Plc, a Business Incubator, will list five million ordinary issued shares priced at GHÂ¢ 0.60 at a market capitalisation of GHÂ¢3 million. however, the company has authorized ordinary shares of 10 billion and a stated capital of GHÂ¢366,000.
This listing forms part of efforts by the GSE to revamp the alternative market.
The genesis of the Pesewa brand was in the launch of Pesewa Global and Pesewa Investment Club in 2018 to invest in innovative young start-up businesses. The Pesewa Investment Club has since grown into Pesewa ONE PLC with fifty-five (55) start-up ideas and businesses currently under the Incubator.
The vision of Pesewa ONE is to build Ghanaian businesses that can go global. This informs the variety of businesses Pesewa ONE currently incubates including enterprises in industries such as Technology, Education, Professional Services, Media, Advertising, and Finance.
The objective of POP is to develop platforms to inspire young Ghanaian entrepreneurs to begin their journeys of creating wealth and jobs.
In terms of its business model, the company takes up 30% shares in each of the businesses under the Incubator and receives dividends when any of these businesses make a profit.
Pesewa ONE also realizes capital gains upon the sale of any of these businesses. It is also entitled to management fees for services provided to each business for the first five years of the businessâ€™s existence.
The company owns and monetizes all the data from its activities and those of the incubate businesses through its website.