Securities and Exchanges Commission Multinationals must enlist on Ghana Stock Exchange- SEC

The Securities and Exchanges Commission has been pushing, for multinationals to mandatorily enlist on the GSE as part of their agreements to operate in Ghana. This would help retain sizeable amounts of their profits in Ghana.

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Dr. Adu Anane Antwi, Director-General of the Securities and Exchange Commission play

Dr. Adu Anane Antwi, Director-General of the Securities and Exchange Commission

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Dr. Adu Anane Antwi, Director-General of the Securities and Exchange Commission, has argued that multinationals must be made to enlist on the Ghana Stock Exchange.

This according to Dr. Antwi will help alleviate Ghana’s foreign exchange challenges.

The Securities and Exchanges Commission has been pushing, for multinationals to mandatorily enlist on the GSE as part of their agreements to operate in Ghana. This would help retain sizeable amounts of their profits in Ghana.

The SEC  is renewing these calls  in the wake of the decision by Nigeria’s legislature to pass a law that will compel multinationals to list a substantial part of their operations on the Nigerian Stock Exchange (NSE).

READ MORE: Securities and Exchange Commission SEC releases freeze on ADB IPO

“I think that this is a great thing that Nigeria has done and I have said that one of the challenges that we face even with our currency is the amount of dividends that flows out of the country every year. If we get some of these companies list part of their shares on the Ghana Stock Exchange, at least part of the foreign exchange that they take every year in terms of dividends will remain here and that should help us manage our foreign exchange value and rate,” he stated.

Dr. Adu Anane Antwi added, “Nigeria is doing something great and I think that we have to learn from them. This is all that I have been talking about all these years. People said do not use the law but I think that Nigeria has gone the extra mile to use the law to ensure that the local people also benefit”, in an interview with Accra-based Citi Fm.

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