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GSE to make a formal request for Vodafone to list on local stock market

By Justice Kofi Bimpeh
Vodafone Ghana logo

The Ghana Stock Exchange, GSE, will soon make a formal request to Vodafone Ghana to list on the local bourse.

The Ghana Stock Exchange said the same rules that applied to MTN to list on the GSE when they acquire 4G license should also be applied to Vodafone.

Addressing journalist in Accra, the Managing Director of the Ghana Stock Exchange, Kofi Yamoah said any telecom provider acquiring the 4G license should be made to list on the local bourse.

Mr Yamoah said, "I don't believe that Ghana still has significant ownership in Vodafone and the indicators are clear, Ghanaians have to own the shares properly."

Kofi Yamoah indicated that he had a meeting with the Minister of Communications and one of the deputies and begun a discussion on the matter.

"I met the Minister and Deputy on a different matter but this came up and we had an understanding that moving forward they will be pressed upon to come on the market, they have been in the country for more than ten years," he noted.

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Vodafone acquired a 4G license early this year as part of its strategy to expand the business.

Kofi Yamoah disclosed that external happenings in both US and the UK had a significant effect on the performance of the Ghana Stock Exchange last year.

Ghana government listed bonds and notes which includes ESLA and other bonds by the government was valued at more than GHc55 million as at end of 2018 as against 45 million cedis recorded in 2017.

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Managers of the GSE has assured that many initiatives will be introduced this year to raise confidence in the market.