• Mrs Esi-Boakye (inset), speaking to the visiting business students
• Mrs Esi-Boakye (inset), speaking to the visiting business students

Youth urged to save, invest towards eventualities

THE youth have been advised to save and invest in readiness for rainy days.

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They have also been charged to imbibe the hard lessons from the current economic crisis and take the positives for the betterment of their future.

The Head of Listing and New Products at the Ghana Stock Exchange (GSE), Joyce Esi Boakye, who gave the advice in Accra, also entreated them to believe in their ability to be entrepreneurs whose firms could list on the national bourse.

She made the remarks when she took visiting students from the Wisconsin International University College, Ghana, through how stock markets worked in Accra last week.

The tour, dubbed: 'Business School Educational Tour to GSE,' saw over 40 students of Wisconsin being lectured on the exchange’s operations.

Mrs Boakye told the students and the youth in general  that the exchange was sensitive to the needs of small and medium enterprises (SME)s started by youngsters.

As a result, she said it established the Ghana Alternative Market (GAX) for start-ups and small business with the potential to grow to raise capital for growth

"It is not expensive or difficult to list on the GSE or the GAX; you only need a broker who will charge you a bit of commission and you are good to go," she stated.

Requirements

The Head of Listing and New Products at the GSE said items required when students wanted to list their start-ups and small-scale businesses included the financial statements, audited accounts and the profile of their businesses.

“Young students must be ambitious, aim high, start a business and work towards it listing on the exchange.

They must have a succession plan too,” she stated.

 According to her, the bond market has been affected by the current financial crises.

She said the current turbulence showed that no investment was risk-free.

“We thought government bonds were risk-free but it is no more risk-free,” she stated.

A financial analyst at GSE, Mr Kofi Owusu Ansah, told the students to invest in the GSE for safety and better regulations. 

Purpose

A Senior Fellow and Dean of Business School at Wisconsin, Dr Bright Mawudor, told the Daily Graphic that the initiative was to give students a vivid understanding of what happens at the stock exchange.

“It is to let them appreciate the importance of understanding the stock exchange, what happens there and avenues in raising capital,” he stated.

He added that the key was for students to know how to invest in stocks and shares and to raise funds for investments.

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