MARKET
INFORMATION
Ghana Stock Exchange (GSE)
|
Trading Hours |
Pre-opening session |
09:30 – 10:00 |
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|
Open |
10:00 |
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|
Close |
15:00 |
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|
Time Zone |
GMT |
Trading Days |
Monday – Friday |
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Trading Currency |
Ghana Cedi (GHS) |
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|
Main Index |
Ghana Stock Exchange Composite Index |
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|
Reuters code |
GGSECI |
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|
Bloomberg code |
GGSECI |
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Exchange Code |
Reuters |
GH |
|
|
Bloomberg |
GN |
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|
Trading ID/ Trading Requirements |
CSD account number |
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|
Settlement Cycle |
T+3. |
Current Index Status |
MSCI Standalone FTSE FM |
|
Market Cap |
USD6.2bn |
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Average Daily Value Traded
| Year | AVG VALUE TRADED |
|---|---|
| 2021 | $360k |
| 2022 | $770k |
| 2023 | $280k |
MARKET
DYNAMICS
Stock Limit
Up/Down
+/-10%
of the previous day’s closing price
Tick
Size
GHS 0.01
Board
Lot
1 share (regular and odd lot merged).
All or None
Not available
Crosses
Crossing can be done in market spread during the regular trading hours
Off- Market
Crosses
Allowed
Official
Closing Price
VWAP rounded down
Iceberg
Available. Must show half the total order
MARKET
REGULATIONS
Foreign Ownership Restriction
No FOL apply. Foreign investors may own up to 100% of all listed stocks.
Disclosure Rules
At 10% ownership, a public disclosure is required. Thereafter, an increase or decrease in ownership in multiples of 5% should also be declared. The Company (Issuer) is responsible for the disclosure to the public and the regulatory bodies. In addition to that, the buying broker is required to also inform the Exchange BEFORE the transaction has been completed and the broader market AFTER the transaction is completed.
Securities Lending
Not permitted
Short selling
Not permitted
Crossing Restrictions
None
Timeline for New NIN Setup
5 business days
MARKET
FEES & TAXES
| Market Fees | 70 bps (breakdown available) |
| Withholding Tax | None |
| Capital Gain Tax | None |
| Dividend Tax | 8% |