Tue, Mar

Shareholders’ association pledges to hold companies accountable

Mr Sas George President Of the Association of Shareholders on the Stock Market, Ghana addressing the Members at the meeting. Picture:GLADYS ATTA BOATENG

Shareholders of listed companies on the Ghana Stock Exchange have expressed their preparedness to ensure that the companies uphold good corporate governance practice.

According to them, the companies had taken them for granted over the years because they did not have a collective voice.

They said they had, therefore, revived the Association of Shareholders on the Stock Market which would be their mouthpiece.

Speaking at the third meeting of the Association in Accra recently,  the president of the association, Mr Sas George  said that the the members of the association, who constituted shareholders of the listed companies, had the powers to determine the appointment of directors of the companies.

 “It is true that shareholders own the companies which means that they have the right to determine who runs the company and have a say on board policy matters. We are prepared to do just that”

He urged members to bring on board their grievances which he promised to carry across to their respective companies.

Annual general meeting

The president further urged members to ask meaningful and relevant questions  which would put the directors and management of the companies on their toes during annual general meetings (AGMs).

He said the questions would enable the companies to improve upon their operations thus enhancing their investments. 

“ My advice to you is that let us study and analyse the annual reports of our companies well so that we can contribute meaningfully during the questions and contributions at AGMs in order to address some of the shortcomings of the companies since they affect our investments”

He also encouraged Ghanaians to invest in the stock market, adding that they would be assured of good returns on their investments.

“You invest your money and in a short time the money goes up. This is more than social security because if you put down some money now, the money rises in the course of time and if you go to the brokers they would give you a day to day running of companies on the stock market”.

For his part, the Executive Secretary of the Association, Mr Sampson Ashong,  said the objectives of the association were to protect shareholders’ investments, to seek  the welfare of members, and to educate members of the association on how to invest wisely.