The Board of Directors of the Ghana Stock Exchange (GSE) announced on Tuesday, October 18, the appointment of Abena Amoah as the new Managing Director of the GSE, effective November 24, 2022. Prior to this appointment, she was Deputy Managing Director of the Exchange.
Launched in 1990, the Ghana Stock Exchange (GSE) is the only stock exchange in Ghana. Securities traded on the exchange include corporate and government stocks and bonds. The GSE recently joined the World Federation of Stock Exchanges, along with the regional securities exchange (BRVM), bringing the number of African stock exchanges that are members of the international organization to 11.
Abena Amoah will succeed Ekow Afedzie, the current managing director, who will retire on 23 November 2022 after 32 years of service. She will take up her position at a time when the Ghana Stock Exchange is implementing two major programs: a three-year strategic plan to move from a frontier market to an emerging market; and the demutualization of the Exchange, a strategic transition that will create a group of related companies, including a limited liability company to manage market operations and a company limited by guarantee to undertake public education and other market development activities. His previous experience and current role at the Exchange, it is explained, will be of great benefit in the execution of these programs.
Head of the Exchange’s operational activities
Abena Amoah was appointed deputy managing director of the Ghana Stock Exchange in July 2020 and was responsible for the Exchange’s operational activities, namely, trading and surveillance, listings and new products, the Ghana Fixed Income Market and the Exchange’s IT systems. She also assisted the Managing Director in defining and implementing the activities, strategies and plans of the Ghana Stock Exchange.
Abena Amoah is an investment banker and capital markets expert who has led many major transactions for 24 years. She specializes in stock exchange listings and trading, M&A advisory, investment research, asset management, private equity, debt and hybrid instruments, large infrastructure project development, business creation and incubation, public education on investment and financial issues and capital market development strategies, in various sectors of the Ghanaian environment.
Investment Analyst
Abena Amoah started her career as an investment analyst and stockbroker, developing and managing the leading investment banks in Ghana. She previously worked with BlackIvy Group LLC, where she led the development of the 400-acre WestPark industrial park in Shama in the Western Region of Ghana. She has also worked for Renaissance Group, where she was CEO of NewWorld Renaissance Securities Ltd and head of investment banking and finance in West Africa (ex-Nigeria) for Renaissance Capital. In addition, she also worked for Strategic African Securities Ltd, where she was the Executive Director of the company.
Member of several Boards of Directors
Abena Amoah has served on the boards of listed, private and not-for-profit companies such as Access Bank PLC, African Women’s Development Fund, Ghana Stock Exchange, Ghana Petroleum Funds, Kosmos Energy Ghana HC Advisory Council, The Foschini Group Ghana Ltd, University of Ghana Council, Venture Capital Trust Fund and Wapic Insurance Ghana Ltd She has served as an advisor to the Government of Ghana and financial sector regulators in West Africa on the deepening of financial markets, and is highly respected in her industry for her outstanding professionalism and integrity.
Abena Amoah is a graduate of the University of Ghana Business School and has also undertaken academic and leadership studies at the Stanford Graduate School of Business, Harvard Business School and the Daniels College of Business at the University of Denver, all in the United States. She is a founding member of the Securities Industry Association of Ghana and has served as a Registered Trading Officer of the Ghana Stock Exchange and as a Valuator (Capital Markets Expert) of the Commercial Division of the High Court of Ghana.
