The Ghana Stock Exchange (GSE) has entered into a Memorandum of Understanding (MoU) with the Minerals Income Investment Fund (MIIF) to strengthen business relations and facilitate the listing of mining companies on the GSE. This collaboration aims to promote the trade of minerals securities on the GSE’s markets.
Key aspects of the partnership include:
- Listing Recommendations: MIIF will recommend all mining companies in which it holds equity investments for listing on the GSE. This will help expand the representation of mining companies on the exchange.
- Sustainable Mining Program: MIIF will develop a sustainable mining program for small-scale miners. This initiative will provide feedstock to produce certified gold for an Exchange Traded Fund (ETF).
- Access to Capital: The GSE will offer its platforms to companies working with MIIF, enabling them to access capital from various GSE markets, including working capital, long-term debt, and equity.
- Education and Sensitization: MIIF will lead efforts to educate and sensitize market players on various mineral asset classes to be created. This will enhance awareness and understanding of these investment opportunities.
- Development of Mineral-Backed ETFs: The GSE will provide technical assistance in the development of a Gold-backed ETF and other mineral-backed ETFs. These ETFs can provide investors with exposure to mineral resources.
The Managing Director of GSE, Abena Amoah, emphasized the importance of this partnership in deepening the local capital market and maximizing the value derived from Ghana’s mineral resources.
Edward Nana Yaw Koranteng, CEO of MIIF, highlighted MIIF’s goal of supporting the mining sector’s accessibility to capital and creating Ghanaian mining champions. He also emphasized the importance of encouraging international mining companies to list on the GSE to further develop the Ghanaian capital market.
Professor Douglas Boateng, Chairman of the Board of Directors at MIIF, emphasized the significance of stock markets in boosting economic growth, development, and wealth creation. The partnership aims to provide Ghanaians with investment options in the strategically important minerals and metals sector.
This collaboration between the GSE and MIIF is expected to facilitate increased listings of mining companies on the exchange, contributing to the growth of Ghana’s capital market and the mining sector.
Source : Ghana Stock Exchange
