Officials of the Casablanca Stock Exchange have commenced discussions with their Ghanaian counterpart to harmonize the operations between the two markets. This is to ensure traders on both sides get access to each other’s market.
A business delegation from Morocco is already in Ghana’s capital, Accra to initiate moves to sign a memorandum of understanding with the Ghana Securities and Exchange Commission to that effect.
The Chief Executive of the Casablanca Stock Exchange, Karim Hajji has explained that trade barriers have accounted for their inabilities to integrate the various markets on the continent but was prepared to engage Ghana on the way forward.
“You need to harmonise listing rules among markets to facilitate listing. That is why we are here to sign an agreement with the Ghana Securities and Exchange Commission to harmonise listing rules and other relevant procedures” he said.
The Managing Director of the Ghana Stock Exchange Kofi Yamoah welcomed the partnership as a move in the right direction. “We should be able to have dealers across the various jurisdiction having access to all the securities that are listed in the entire West African Market and vice versa, he stated.
The Casablanca stock exchange is the largest market in North Africa and the second largest on the continent while the Ghana stock exchange is considered among the largest in the West African Sub-Region.
Source: Africafeeds.com/ Fred Dzakpata
