GSE makes history; lists Africa’s second Eurobond

amThe Ghana Stock Exchange (GSE) on Thursday listed Africa’s second Eurobond to join the league of markets around the world, where local investors can monitor and trade in a sovereign bond.

The listing makes Ghana the second country on the continent after South Africa to list a sovereign bond.

GSE chalked this enviable feat after Ghana government listed the $750 million Eurobond on the local bourse.

Market watchers believe this would enhance GSE’s visibility and interest among international investors. Ghana’s second Eurobond is also listed on the Irish Stock Exchange.

Speaking at the program to formally list the bond, Finance Minister, Seth Terpker, noted that the recent bond issued offered local investors the opportunity for the purchase of the facility.

He said there is the need for development of the bond market to bridge the prevailing long term financing gaps.

Managing Director of the Ghana Stock Exchange, Kofi Yamoah, noted that the listing of the bond is a landmark event and expressed the hope that it would mark the beginning of a deepening of the bond market.

Ghanaian institutional investors are said to holding about $16.5 million of the Eurobond

source: myjoyonline.com

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