Managers of the Ghana Stock Exchange, GSE has assured investors on the Ghana Stock Exchange(GSE) to expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year.
According to managers of the GSE, far-reaching initiatives are being taken to improve the performance, relative to 2018.
“The initiatives include preparation and adoption of a new strategic plan, irreversible steps towards the demutualization of the GSE, and plans to acquire a market surveillance system”, Board Chair of the GSE Mr Albert Essien stated at an AGM.
In 2018, the GSE received low returns as the general performance of the bourse dipped.
Mr. Essien disclosed that the bourse experienced a flat return on investment in 2018.
He explained that the GSE Composite Index which measures the performance of the entire market ended the year with a negative 0.29 percent compared to 52.7 percent recorded in December 2017.
Also, the GSE Financial Stock Index recorded a negative 6.79 percent compared to the positive 49.5 percent recorded at the end of 2017.
Meanwhile the volume of shares traded for the year 2018 was 201 million shares valued at 659 million cedis compared to the volume and value of 322 million shares worth 518 million cedis respectively recorded in 2017.
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On financial performance, Mr. Essien stated that the exchange recorded a surplus of 11.97 million cedis in 2018, a little lower than the surplus of 12.37 million cedis recorded in 2017.
He added that the GSE Reserve Fund also continued to grow.