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Fixed income market grows significantly — CediManager to drive further growth launched

BY: Emmanuel Bruce
Abena Amoah (arrowed) tolling the bell to signal the launch of the CediManager

The Ghana Fixed Income Market (GFIM) is growing significantly with GH¢155 billion worth of securities traded in the first nine months of the year.

This is 11 per cent higher than the figure traded the same period last year.

The GFIM was set up by the Ghana Stock Exchange to trade in government bonds, corporate bonds and treasury bills

Launching a new platform dubbed; the CediManager which aims to further deepen the fixed income market, the Deputy Managing Director of GSE, Abena Amoah, said “we are seeing the number of transactions grow on the GFIM and we believe that a technology like this new platform will drive further activity on the market.”

New product

The CediManager, an initiative by Fincap Securities in partnership with the GSE, is an investment platform for trading government securities.

The platform is aimed at providing investors, both residents and non- residents, with quick and convenient access to investments in Government of Ghana Securities.

Ms Amoah said this cutting edge platform could not have arrived at a more ideal moment since COVID-19 had boosted the adoption of digital technology across the world.

“As we applaud Fincap Securities today, I want to urge all other market participants to follow suit and provide similar innovative technologies to assist the growth of the capital market.

“For those that have it already, let’s embark on educational drives to let the public know about these tools,” she stated.

Equities market

Giving an update on the performance of the equities market in the first nine months of the year, she said the market had over GH¢1 billion this year, which was almost 300 per cent more than the value traded at the same time last year.

She said the Composite Index which measured the performance of the market was however down by almost 11 per cent due to global economic challenges.

“The index is down but this is not a wonder as we see that happening on stock markets all over the world and Ghana is not immune to the economic challenges and the global challenges.

“We are, however, hopeful for better days as we continue to work hard to bring more companies to the market, introduce and diversify products and services and to get investors choice and access to the market,” she noted.

The Chief Executive Officer of Fincap Securities, Geoffrey Fathers Maison, for his part, said the new platform brought the GFIM to individuals in the comfort of their homes and offices and on the go.

“Our user-friendly application grants access to whoever has the smart device, access to the internet and funds to invest in cocoa bills, treasury bills, and government bonds and notes.

“At CediManager, we will not leave our clients in the dark but grow with them. Our well-structured dashboard makes it easy to monitor your investments in real-time. You do not have to wait for statements to know how your money is faring,” he stated.

Creating value

The Head of the Ghana Fixed Income Market of the Ghana Stock Exchange, Augustine Simons, said the launch of this innovative platform brought the world’s attention to the need of bringing people and capital together to create value for all stakeholders.

“As a first in the Ghanaian market, CediManager will bring Government bonds, Cocoa bills, Government notes and Treasury bills to the fingertips of Ghanaian investors,” he said.

The Head of Broker Dealers of the Securities and Exchange Commission (SEC), Francis Boadu, also used the opportunity to reiterate calls by SEC for all stakeholders to partner the Commission in the successful implementation of the various market initiatives in the Capital Market Master Plan.

He said SEC remained committed to protect investors, the integrity of the market and promote the growth and the development of a vibrant capital market that would support the economic growth agenda of the country.