By Deborah Asantewaah SARFO
Managing Director-Ghana Stock Exchange Abena Amoah has assured that the Exchange is actively partnering with fintechs to develop solutions which make investment instruments accessible,while driving investors’ participation on the market.
She made this digitalisation agenda known while speaking at the 34th anniversary of GSA under the theme ‘Leveraging digital technologies for inclusive digital marketing growth’.
“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.
This step forms part of GSE’s broader initiative to implement a strategic plan using technology to enhance their operations and especially bring more investors into the sector.
Ms. Amoah added that the Exchange is working with both international and local fintech companies who have given access to the GSE’s system and made these digital solutions available for anyone who is interested in investment.
“Some of the partners we are working with are associated with our stock brokerage fans; so, IC Securities, Data Bank, Fin Cup Securities. 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 noted.
The digital platform will include features such as investment education tit-bits and gamification, whereby users can play games and create tokens. This initiative will provide a platform for investment education and reduce the risk people face from participating in fraudulent schemes.
“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 underscored the significance of digitalisation as a driving force for inclusive growth and accessibility in the markets.
Highlights of GSE’s progress and performance in 2024
Turning her attention to some GSE achievements this year, she said the compositing index is up above 40 percent as at the end of October versus 27.89 percent in the same period during 2023.
The financial stock index has reversed the losses of last year and is up 70.6 percent as of end-October. For the first time ever, the market’s capitalisation crossed the GH¢100billion mark.
On progress made in the area of digital transformation, Ms. Amoah said the journey began in 2008 when the Exchange digitalised ownership of securities in the markets: followed by the automated trading systems in 2009 and the first massive digital IPO in 2018 – when investors could subscribe and pay for MTN shares on their mobile phones by using mobile money
In his keynote address, Chief Information Officer-Scancom PLC, MTN Ghana, Bernard Acquah re-echoed digitalisation’s role in the capital market, emphasising: “The future of our capital market lies in the seamless integration of digital technologies”.
He shared some insights on how digital technologies are transforming capital markets, expanding accessibility, fostering inclusiveness and shaping the financial ecosystem’s future .
Due to the financial landscape’s dynamic nature, he urged GSE to embark on key activities to sustain growth and remain competitive.
“The financial landscape is dynamic. We need technologies and trade emerging regularly. So, the GSE must cultivate a culture of continued innovation, encouraging experimentation and adaptability. Investing in R&D, supporting startups and fostering a conducive environment for technological advancements will be crucial for sustained growth and competitiveness,” he said.
