Ghana Stock Exchange signs MOU with Fidelity Capital Partners Limited
The Ghana Stock Exchange (the “Exchange” or “GSE”) and Fidelity Capital Partners Limited (FCPL) have signed an MoU in which the two organisations intend to work to promote the growth and future listing of companies, especially Small and Medium-sized Enterprises (SMEs) on the Exchange.
Under the MOU, the Exchange will be promoted to investee companies of FCPL which will also use it as an exit vehicle for the companies they nurture as the private equity partner. The GSE shall, on the other hand, promote FCPL to SMEs as a source of long-term capital and, for qualified SMEs seeking a listing on the Exchange, as an underwriting partner, thus enhancing the success of SME listing on the GSE.
The scope of the promotion shall cover all companies including listed, unlisted, SMEs and large seeking long-term capital to boost their growth.
Stephen Antwi-Asimeng, Senior Partner, Fidelity Capital Partners Limited, commented:
“FCPL is exceptionally pleased to partner the GSE in this venture as it seeks to promote the mutual interests of our two organisations. We shall promote the GSE to our investee companies and whenever feasible, use the Exchange as an exit medium for our private equity investments in Ghana. We are particularly interested in providing limited underwriting to SMEs seeking long term capital by listing on the Exchange and look forward to working with the GSE to assist in the development of the capital markets in Ghana”
Kofi Yamoah, Managing Director of the Ghana Stock Exchange commented:
“The Exchange intends to use the platform offered to encourage SMEs in Ghana to expand and grow through FCPL’s venture funds and ultimately get listed on the stock market. We are delighted at the partnership with FCPL because we believe that is the route our SMEs ought to go to survive”.
