|
|
|
YAA
ASANTEWAA RURAL BANK LTD TO LIST ON THE GHANA
ALTERNATIVE STOCK MARKET
The Yaa Asantewaa Rural Bank could be one of the early
birds in the Ashanti region to get listed on the Ghana
Alternative Market.
The Ghana Stock Exchange has lowered cost and introduced
incentives to make the stock market attractive to SMEs.
Investment advisors are particularly entreating rural
banks and microfinance companies to turn to the
Alternative market to access long term financing.
Yaa Asantewaa Rural Bank, which started operations less
than two years ago, has expressed interest to go onto
the market.
“The alternative market gives us a brighter
opportunity,” says Samuel Addo Otoo, Board Chairman of
the Bank. “We’ve opportunity and even gone beyond Ghana
by having interactions with institutions in South Africa
and Dubai trying to bring capital in; so if the
opportunity is there for us to assess it locally, I
think it is a brighter time”.
The Bank has the target of opening eight branches within
the next five years, in addition to the current two.
Mr. Otoo believes the listing on the stock exchange
would enable the bank quicken its expansion drive.
He however entreats the Ghana Stock Exchange to shorten
the application process “and also be able to come out
with a way of making the process quite simple and
accessible by all institutions, especially start-ups
that are viable to succeed in the future”.
SMEs with high growth potential can raise Gh250,000
minimum capital on the Ghana Alternative Market. |
