Stock Market

The Ghana Stock Exchange (GSE), one of the premier stock exchanges in Africa, commenced operations in November 1990. Over the years of GSE’s operations, the market’s performance has been remarkable and this has earned GSE international recognition. In 1994 and 1998 for instance, some international research groups named GSE as the best performing stock market among emerging markets.

GSE has been tasked to provide leadership in the development of the capital market in Ghana and also serve as a pivot for capital mobilization. The performance of GSE impacts positively on the Ghanaian economy.

The Exchange is governed by a Council of thirteen representing Licensed Dealing Members, Listed Companies, Banks, Insurance Companies, Money Market Institutions, and the Ghanaian General Public. The Managing Director of the Exchange is an ex-officio member of the Council.

The Council acts as the Board of Directors with all powers and functions of a Board under the Companies Code. By virtue of the Stock Exchange Act 1971, such functions include preventing frauds and malpractices, maintaining good order among members, regulating stock market business, and granting listing.

The Exchange has a well-qualified and experienced Management Team headed by the Managing Director, with responsibility for the day-to-day operations of the Exchange and the implementation of relevant policies.
A Ghana Stock Exchange listed company is a company, which has its shares, traded on the GSE. Applications for listing need to be sponsored by a Licensed Dealing Member of GSE. The company must also comply with the provisions of the Companies code, 1963. The company will also have to meet GSE's listing requirements. There are three Lists available for listing on GSE.

GSE offers two membership categories: - Licensed Dealing Members and Associate Members. A licensed dealing Member is a corporate body licensed by the Exchange to deal in listed securities. An Associate Member is an individual or corporate body, which has satisfied the Exchange's membership requirements, but is not licensed to act as a stockbroker on the Exchange.

Membership of the Exchange rose from three initial promoters to fifty-two as at December 31, 2000. This is made up of twelve Licensed Dealing Members and forty Associate Members.
GSE Licensed Dealing Members Directory

NAME ADDRESS
CAL Brokers Ltd. No. 45 Independence AvenueP. O. Box 14596, Ridge, Accra, GhanaTel.: +233 21 231102/221087/221091Fax: +233 21 231104/231913E-mail: calbrokers@calbank-gh.comWeb:
CDH Securities Ltd. 3rd Floor, SSNIT Tower Block, Pension HouseP. O. Box 14911, Accra-North, GhanaTel.: +233 21 667425/668437Fax: +233 21 662167E-mail: cdh2@ghana.comWeb: www.cdhghana.com
Databank Brokerage Limited 5th Floor, SSNIT Tower Block, Pension HousePrivate Mail Bag, Ministries, Accra, GhanaTel.: +233 21 665124/663763Fax: +233 21 669100E-mail: databank@africaonline.com.ghWeb: www.databankgh.com
Ecobank Stockbrokers Limited No.19, 7th Avenue, P. O. Box 16746,Ridge (West), Accra, GhanaTel.: +233 21 228812/229532/231931-2/225498Fax: +233 21 231934E-mail: sbebga@ecobank.comWeb:
First Atlantic Brokers Ltd. Atlantic Place, No.1, 7th Avenue, Ridge (West) P. O. Box CT 1620, Cantonments,Accra, GhanaTel.: +233 21 231433-5/245643Fax: +233 21 231399E-mail: fambl@ghana.comWeb:
Gold Coast Securities Ltd. 350 Nima AvenueNorth Ridge, Accra, GhanaTel.: +233 21 661192/3Fax: +233 21 233050E-mail: gcs@goldcoas.comWeb:
Merban Stockbrokers Ltd. Merban House, Kwame Nkrumah AvenueP. O. Box 401, Accra, GhanaTel.: +233 21 666331-5Fax: +233 21 667305E-mail: mbd@merbangh.comWeb: www.ghanaclassifieds.com/merchantbank
NTHC Ltd. Martco House, Okai-Mensah Link (off Kwame Nkrumah Avenue), P. O. Box 9563 Adabraka, Accra, GhanaTel.: +233 21 238492-3Fax: +233 21 229975E-mail: nthc@ghana.comWeb:
New World Investments Ltd. Mobil House, Liberia Road, P. O. Box CT2868, Cantonments, Accra, GhanaTel.: +233 21 660163Fax: +233 21 780518E-mail: newworld@ghana.comWeb:
SDC Brokerage Services Ltd City Building, Off High Street, Post Ofice Square,P. O. Box 14198, Accra, GhanaTel.: +233 21 669894/669372-9Fax: +233 21 669371E-mail: sdc@africaonline.com.ghWeb:
Strategic African Securities Ltd. 2nd, Ridge Link, North Ridge P. O. Box 16446, Airport, Accra, GhanaTel.: +233 21 7011770-3 (4 lines)Fax: +233 21 7011774-5 (2 lines)E-mail: sasltd@africaonline.com.ghWeb:
Sterling Securities Ltd. No. 2, Rangoon Link, P. O. Box CT 2932,Cantoments, Accra, GhanaTel.: +233 21 764332/764335/765318Fax: +233 21 762954/765317E-mail: sterling@africaonline.com.ghWeb: