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GSE to trade with Nigeria and Ivory Coast Stock Exchanges by 2014

The Ghana Stock Exchange says trading of shares of companies listed on the Ghana, Nigeria and Ivory Coast stock markets should be possible by 2014.

The agreement to integrate the stock exchanges of the three countries could be finalized at a meeting in Accra today.

This would enable the listed companies in question raise capital on any one of these 3 exchanges.

Deputy Managing Director of the Ghana Stock Exchange Ekow Afedzi tells JOYBUSINESS the benefits of the integration are enormous.

“Our integration approach is quite different. We’re not looking at fiscal integration or using a common currency or even a common clearing house. Instead, we’re saying that let brokers and investors in these countries be able to trade amongst themselves whilst the companies Ghana would also be able to open up to the entire West Africa' he said.

"When you do that some of the challenges faced would be done way with because the more you open up, the more you get more investors coming in to play but you must be guided by strict rules and regulations” he added.

The three stock markets in 2009 initialed an MOU to bring their markets together. This was however stalled by some challenges in Ivory Cost. The Stock Markets in Sierra Leone and the Gambia are also working to join.