February 16, by Ryan Hoover 42 Comments. In light of this, I thought it might be helpful to run through the details of actually buying and selling stock on the Ghana Stock Exchange. I opened a trading account through a Ghanaian stockbroker about five years ago.

Their service has been adequate, but far from outstanding. So I compiled a list of stockbrokers who trade on the Ghana Stock Exchange and emailed each of them. I asked them if they catered to foreign investors and, if so, how much they required in order to open an account.

Of the 20 brokers that I contacted, I found the following four brokers to be especially helpful and responsive. Photo by World Bank Photo Collection None of the brokers above require a minimum beginning balance to open an account.

You must, however, fund your account before executing any trades. Commissions and fees will run you 2. Stanbic Bank Ghana did, however, note that it charges according to a sliding scale. They charge investors a 2. And the rate drops for higher amounts. In latethe Ghana Stock Exchange set up a central securities depository, which records the ownership of securities in electronic accounts, thus eliminating the need for share certificates. This dramatically improved trading efficiency but created one more form for new investors to fill out.

This is the form you will need to complete and return to your broker. You will then be assigned a Ghana Securities Depository GSD account number. This number will accompany every trade order you place, allowing the GSD to keep record of all your Ghanaian holdings. These must be mailed to the stock broker. This is used to verify that you are indeed the owner of the account that will be used to send and receive funds.

After opening your trading account, your broker will provide you with its bank details so that you can fund your account. The most efficient way to do this is via wire transfer. While some brokers will request a signed trade mandate form, for most brokers, all you need to do is send an email to your broker with your trade instructions.

Keep in mind that some Ghanaian shares are rather illiquid, so I advise specifying a limit price for all of your orders. This will help you avoid paying significantly more for your shares than you had intended to pay. Your broker will then execute your trade and send you a contract note that specifies the buy or sell price, commissions, and fees.

The process of opening a foreign brokerage account can be confusing. Ghana Stock ExchangeHow to Invest in Africa. June 8, at 4: Hi Ryan, This is a well explained article and readily comprehensible as a result.

I have just opened a broker account in Ghana, my first venture outside Nairobi Stock Exchange, and thought it would be wise to gather some information from investinginafrica.

I must say that this is one the sites that has given me the courage to take the leap. June 13, at Thanks for the kind feedback, John. Wishing you all the best on the Ghana Stock Exchange! February 5, at 7: Very helpful education and recommendation. What are the factors an investor should consider before investing in a particular stock. February 5, at 1: June 11, at What if you already have a bank account? Do you still need a brokerage account? I want to invest but my bank is not a broker, what should l do?

Yes, you will still need a brokerage account in order to invest on the Ghana Stock Exchange. Contact one of the four brokers listed above and let them know that you are interested in opening a brokerage account. They should be able to walk you through the process. July 17, at 1: Since the investment is in local currency, with the rise of the exchange rate and inflation how do you match the dollar against the cedi? July 20, at 1: Stock investments should be pretty well protected against inflation, but they are subject to exchange rate volatility.

Zimbabwe Stock Exchange

You can see the US-Dollar adjusted return of the Ghana Stock Exchange here. As you can see, it has not fared well, but this may suggest that there bargains to be had.

September 6, at 9: Dear Ryan, All this is a bit confusing. I have never invested and want to venture for the first time. My question is where and who do I go to. Also, how much start-up capital would I need to be able to begin investing on the Ghana Stock Exchange. I suggest contacting one of the four brokers listed in the article African Alliance, CAL Brokers, FirstBanc Brokerage Services, or Stanbic Bank Ghana Brokerage.

They will guide you on how to open a trading account and to begin buying shares. As far as I know, you can invest as little or as much as you wish.

I suggest starting small. Stocks are risky, so in the beginning, invest only an amount that you can afford to lose. After you become comfortable with the process and in choosing stocks, you stock market rally 1930s crash begin to invest more.

September 6, at November 17, at 3: I have a question about the CAL brokers form: The first line says client account number. Does that mean I first need to have an account with the bank? If yes, then how do I go about it from outside the country? November 19, at 1: Hi Robby, I guess you will leave that as greatest currency trader all time blank since you are in the process of registering and you are not expected to have a number yet.

I opened a CAL brokers account from Kenya by filling my details online then sending scanned copies of my identification documents and any other required ones. But you may contact them directly for any queries to be sure. January 1, at 8: I am a Ghanaian and a novice trader in online forex.

My interest in investing in my own teacup yorkie puppies for sale nj arose after reading your article.

I just have a few como utilizar el volumen en forex before I visit any of the brokers. What might be the possible income per month? How much money does an equine vet make do I know buy corning shares stocks to trade in and their prices?

How do I know when to place a buy and sell order? What are the risks involved in stock investing? January 1, at Thanks for stopping by. You can derive a return from investing in stocks in two ways. You or how much money do bankers earn uk trusted advisor must research the stocks available and decide which one offers the greatest potential value.

Dividends are a bit more predictable. But they vary from stock to stock. Note that dividends are paid either trade zimbabwe stock exchange or semi-annually — not monthly. Knowing when to buy and sell is more art than science and is determined by numerous factors. I suggest beginning to invest only with money that you can afford to lose or with a trusted adviser. It is possible to lose your entire investment in a stock if the underlying company goes bankrupt.

Thus, invest in companies that you know and understand. Berkshire hathaway stock market symbol Ghanaian stock market is a much less liquid market than the forex market.

So, while terms like spread the difference between the bid and ask price apply, they are less pertinent to a Ghanaian stock investor, because it is difficult and costly to day-trade on the market. Hello One more thing. Does the stock market deal with spread, liquidity, pips…etc? On which platform can I view these? March 24, at 6: April 2, at 9: May 25, at 5: Hi there, I love your site and just wanted to ask a question about how investment funds get repatriated back to the U.

What are the tax implications leaving Ghana and then coming back into the U. September 21, at October 26, at Do you know of any software or company that provides technical analysis of the Ghanaian Stock Exchange?

Does anyone else know of a resource that might be helpful to Ayo? August 16, at 7: August 28, at 4: December 5, at January 23, at 7: Finally what is a trade order? January 23, at 3: There is no charge to open an account and, at the time this article was written, none of the brokers required an account minimum.

Note, there will be charges associated with wiring money to Ghana. A trade order is just a message from you to your broker instructing them to buy a certain number of shares of a certain company e. February 11, at 8: I am a Ghanaian living in Norway. I am new in this stock business and will like to buy shares or invest in Ghana.

I best way to make money old school runescape f2p buy shares whiles in Norway? But how trust worthy are these stock brokers. Wont they bolt with your investment or try to dupe you? February 11, at 3: Yes, you can invest in shares while living in Norway.

You can simply follow the steps in this article. I can understand your fears about being duped, but, in my experience, the brokers have been above board. All brokers must be licensed to deal on the exchange and would face disciplinary action for any corrupt dealing. You can find a list of licensed brokers here http: February 12, at 3: Thank you very much Mr. Ryan for the information. Hope to get back to you in case i need further information. July 30, at 5: Which broker do you use?

Can you recommend AfricanAlliance? Do they reply fast and execute orders in time. I have always had good experiences with African Alliance. You may also consider working with Imara in Johannesburg.

August 21, at September 26, at 4: Hi Ryan, I recently bought shares worth cedis from from a brokerage firm. Dont want to mention the brokers name. I was assured that I would receive a notification of purchase either through SMS or through email. Seriously, I am a bit confused now. I would send them a message or phone them asking for the status of your trade. Sometimes, if you are purchasing the shares of illiquid companies, the trade can take a while to be executed and cleared. March 24, at 3: I find this article very useful.

But to clear my head, are those six steps the process of acquiring shares in a Ghanaian company? June 16, at 7: I do not like shot term trading. I would like to purchase some shares in a company for long time. How is the process of this different from what you have just explained? December 23, at 2: February 15, at 8: Hi Ryan, will really commend you for this educative information. I really want to trade in shares but i know nothing about it, please how do i go about it and where do i start from.

February 15, at April 19, at 7: Thanky you Ryan for this educative articles and responses. I would also like to venture into stock trading. I will read further for better understanding. Thanks again for the intro. April 24, at 4: Your email address will not be published. My name is Ryan Hoover, and I'm an investment analyst and writer with a passion for African stock markets. Articles African Stock Markets Performance Botswana BRVM Ghana Kenya Malawi Mauritius Mozambique Namibia Nigeria Rwanda South Africa Tanzania Uganda Zambia Zimbabwe Newsletters JSE Share Advisor KenyaVestor Stock Scout About Login.

Investing in Africa A Field Guide to Sub-Saharan Stock Markets. Home JSE Share Advisor KenyaVestor Contact. Ghanaian Stockbrokers I opened a trading account through a Ghanaian stockbroker about five years ago.

African Alliance Securities Ghana — African Alliance owns brokerage houses on most African exchanges. They produce top-notch research, and I can testify to the professionalism and expertise of their staff.

CAL Brokers — A subsidiary of CAL Bank, CAL Brokers prides itself on innovation. It is the only Ghanaian broker to offer an online trading platform — iBrokerGhana. FirstBanc Brokerage Services — A home-grown investment bank, FirstBanc offers a wide range of investment advisory and asset management services.

Their Platinum Account is an actively-managed mutual fund that invests in local equities. Stanbic Bank Ghana Brokerage — This division of the massive Standard Bank Group offers extremely professional customer service, but they do not allow dividends to be deposited into trading accounts.

Foreign investors must open a local bank account if they would like to cash their dividend checks. Trading Costs Commissions and fees will run you 2. Complete and Return the GSE Securities Depository Account Registration Form In latethe Ghana Stock Exchange set up a central securities depository, which records the ownership of securities in electronic accounts, thus eliminating the need for share certificates.

Provide a Certified Copy of Your Passport and an Additional Passport-sized Photo. Provide a Canceled Check or Copy of a Recent Bank Statement This is used to verify that you are indeed the owner of the account that will be used to send and receive funds. Wire Funds to Your Brokerage Account After opening your trading account, your broker will provide you with its bank details so that you can fund your account. Further Reading — How to Invest on the Botswana Stock Exchange — How to Invest on the Zimbabwean Stock Exchange — How to Invest on the Nairobi Stock Exchange.

Comments John says June 8, at 4: Keep up the excellent job! Hi Emma, I suggest contacting one of the four brokers listed in the article African Alliance, CAL Brokers, FirstBanc Brokerage Services, or Stanbic Bank Ghana Brokerage.

I hope this helps and wish you all the best in your investments, Ryan. Keep up the good works. Hi Limpo, Thanks for stopping by.

Hi, I have cedis. Is that enough to invest? Hello Ryan Do you know of any software or company that provides technical analysis of the Ghanaian Stock Exchange? This is a very useful resource. You did a fine job putting it together, Simon! Hi Qubekani, There is no charge to open an account and, at the time this article was written, none of the brokers required an account minimum. Hope this is helpful and happy investing! Hi Dabuo, Yes, you can invest in shares while living in Norway.

Hi Isaac, I would send them a message or phone them asking for the status of your trade. Keep us posted on what you hear back from them! And what are the regulatory regimes affecting share trading in Ghana?

Capital Markets in Zimbabwe - Securities and Exchange Commission of Zimbabwe (SECZ)

Let me know if you have any questions! Leave a Reply Cancel reply Your email address will not be published. About Me My name is Ryan Hoover, and I'm an investment analyst and writer with a passion for African stock markets.

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