Ghanaian companies are missing out on potential growth and expansion because businesses are unwilling to share ownership with investors.
Director-General of the Securities and Exchange Commission says many local entities have decided not to list on the stock market, because businessmen take delight in owning and managing their companies alone, albeit with meagre capital.
Speaking at the Citi investment forum in Accra, Dr. Adu Anane-Antwi said “You realize that initially the momentum was there, about five or so companies got listed but for more than a year nobody is coming and that brings us back to this philosophy of not wanting to share our businesses and risks with others and that is a challenge in this country.â€
“We always want to own whatever business we are running wholly but you cannot develop your businesses with only your own small capital or loan.†he added
Dr. Anane-Antwi observed there are many businesses which could have done much more if they consider listing on the stock market or merging with others.
He adviced SMEs to seriously consider coming “together so their businesses can expand and probably list on the stock.â€
Â