VODAFONE Ghana says it plans to list on the Ghana Stock Exchange (GSE) soon if its two main shareholders Vodafone plc and the Government of Ghana are satisfied with the trends on the local bourse.
The Chief Executive Officer of Vodafone Ghana, Haris Broumidis told Citi FM, an Accra-based radio station that Vodafone had plans to list on the Ghana Stock Exchange.
He stated: “I think it is in the plan and ambition of the shareholders because you know we have two shareholders. We have Vodafone Group and the Government of Ghana. I am not a shareholder but the Chief Executive Officer, I believe that the shareholders have it in their minds, that at a point in time the company must list on the Ghana Stock Exchange.”
Last week, the first Deputy Governor of the Bank of Ghana (BoG), Millison Narh had called for a policy which would compel telecom operators in the country to list on the Ghana Stock Exchange to help address and reduce forex market pressures in the country.
However the Ghana Telecommunications Chamber and some industry players argued that, Ghana will be sending the wrong signal to investors, if it compels telecom operators to list on the GSE.
The Chief Executive Officer of the chamber Kwaku Sakyi Addo added that the telecom industry is capital intensive and this makes it difficult for telecom companies to raise the required capital within Ghana to expand their business.
He continued: “This is a very capital intensive business and if that is the direction the managers of the economy wish to go or the stock exchange wish to go then we should make it attractive for companies to do so and make it irresistible for them to want to list on the stock exchange.”
African Eye News.com
