Multi-nationals should float shares – Markets regulator

Ghana’s capital market regulator has reiterated the call for a policy compelling multinationals operating in the country to list on the Ghana Stock Exchange (GSE).
Adu Anane-Antwi, director general of the Securities and Exchange Commission, said this week that the government must introduce a policy that would require companies operating in specific sectors of the economy to float part of their shares on the GSE after five years of operation.
“These sectors should include banking, insurance, mining, telecommunications, oil and gas, among others,” he said.
He said the policy could become part of the licensing requirements for such companies to operate.
Most sectors of Ghana’s economy, including mining, banking, insurance, oil and gas and telecommunications are dominated by big multinationals.
“For fully owned foreign companies, this policy will ensure that they do not transfer all their dividends declared outside the country, but pay part in cedis to improve the strength of our currency,” said Anane-Antwi.
Credit: Nampa- Xinhua

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