Abena Amoah, the managing director of the Ghana Stock Exchange, has promised that the Exchange is actively collaborating with fintechs to create solutions that increase investor participation in the market and make investment instruments accessible.
“Leveraging digital technologies for inclusive digital marketing growth” was the theme of her speech at GSA’s 34th anniversary.
“We are partnering with fintechs to develop a solution that can be on every phone. And anyone who has savings can come on that app, open it up and see what the gamut of investments is – products regulated and available investment products,” she noted.
She said that this is a component of GSE’s larger effort to carry out a strategic plan that uses technology to improve operations and attract additional investors to the industry.
Ms. Amoah went on to say that the Exchange is collaborating with both domestic and foreign fintech firms that have granted access to the GSE’s system and made these digital solutions accessible to anyone looking to invest.
According to Ms. Amoah, her organization collaborates with IC Securities, Data Bank, and Fin Cup Securities, among other partners connected to their stock brokerage fans.
“Many of the banks are partners we have given access to our system in order to link their system and provide these tools for investors or create these investor-opportunities,” she added.
Features like gamification—where users can play games and create tokens—and investment education tidbits will be included in the digital platform. This project will lower the risk that people face from taking part in fraudulent schemes and offer a platform for investment education.
“Digitalisation is what’s going to help leapfrog and transform the economy faster than the long process we have come through in 30 years so far,” she emphasised.
She discussed the importance of digitalization as a catalyst for accessible markets and inclusive growth.
Ghana Is Expecting More Than 1 Million Visitors In The Country This Year
As of the end of October, the GSE’s compositing index was up over 40 percent, compared to 27.89 percent during the same time period in 2023.
In the same month, the financial stock index was up 70.6%, reversing the losses of the previous year. The market’s capitalization surpassed the GH¢100 billion mark for the first time.
According to Ms. Amoah, the process started in 2008 when the Exchange digitalized market ownership of securities. This was followed by automated trading systems in 2009 and the first significant digital initial public offering (IPO) in 2018, which allowed investors to subscribe for and purchase MTN shares using mobile money on their phones.
Credit: thebftonline.com
