[ 2019-02-25 ]

London Stock Exchange, Ghana to co-operate in developing capital markets
Accra, Feb. 25, GNA - The London Stock Exchange
(LSE) has agreed to partner Ghana in a bid to aid
the development and robustness of her capital
markets infrastructure.

The agreement was reached when Ghana’s
delegation, led by Vice President Dr. Mahamudu
Bawumia, held a joint meeting with the leadership
of the LSE, at the sidelines of the
Ghana-United-Kingdom Business Council meeting, in
London, on Monday.

Mr. Nikhil Rathi, the Chief Executive Officer and
Director of International Development of LSE, led
his team to sign the agreement.

Vice President Bawumia said the cooperation would
also help fast-track Ghana’s ambition of
becoming the financial services hub in Africa.

He reiterated the Government’s resolve of
moving the development agenda ‘Beyond
Aid’, hence its determination to implement
economic policies capable of attaining that
agenda.

It was also building a robust financial system to
support local businesses and international
investors and, thus, considered the cooperation
with the LSE as a step in the right direction.

Mr. Rathi, for his part, pledged the support of
the LSE through its emerging markets office and
the African Advisory Group, which was set up
purposely to help Ghana, and other countries, to
realise their ultimate dream of building a robust
financial system capable of participating in
global capital markets.

A working group, which would be led by the
Ministry of Finance and the Emerging Markets
Division of LSE, would see to the effective
realisation of the objectives of the cooperation
agreement.

The recent financial sector reforms and the
performance of the country’s macro
indicators continue to impress the international
financial community, leading to significant
interest and investment flows.

Last year, for instance, Ghana overtook the West
African giant, Nigeria, in Foreign Direct
Investment (FDI) inflows.

With such significant strides, Ghana is poised to
become the leading financial services hub in
Africa.

This, however, requires substantial improvements
in the existing financial services
infrastructure.

Some government officials who accompanied the Vice
President to meeting include Papa Owusu Ankomah,
Ghana’s High Commissioner to UK, Mr John
Alan Kwadwo Kyerematen, the Minister of Trade and
Industry, Professor George Gyan-Baffour, the
Minister of Planning, Mr Charles Adu Boahen, a
Deputy Minister of Finance and Mr. Yofi Grant, the
Chief Executive Officer of the Ghana Investment
Promotion Centre.

By Godwill Arthur-Mensah, GNA

Source - GNA

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