With plans to list soon, the two main shareholders of Vodafone Ghana, Vodafone Group and the Government of Ghana have begun studying trends on the Ghana Stock Exchange.
According to the Chief Executive Officer of Vodafone Ghana, Haris Broumidis, “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.”
Early on this week, first Deputy Governor of the Bank of Ghana, Millison Narh requested a policy that will force telecom operators to list on the Ghana Stock Exchange to help address and reduce forex market pressures in the country however, industry players say Ghana will be sending the wrong signals to investors if telcos are forced to list.
According to the Chief Executive Officer of the Ghana Telecoms Chamber Kwaku Sakyi Addo, 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.
“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 wishes 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.”
Business World (with quotes from citifmonline)