Dr Addison said the GSE's Ghana Alternative Market (GAM) was an avenue for patient capital and the RCBs could leverage the platform to access funds for expansion.

He, therefore, advised the GSE to collaborate with the ARB Apex Bank Limited, the mini central bank for the community-based lenders, on how best they can support the institutions to float shares in return for long-term capital.

Dr Addison made the call when the Managing Director of the GSE, Abena Amoah, led a five-member delegation from the bourse to pay a courtesy call on him.

The meeting was for Ms Abena Amoah, who was appointed the first female of the GSE in November last year, to introduce herself to the central bank's management.

The Managing Director (MD) of the GSE was accompanied by the acting Deputy MD, Frank Berle; the Head of the Ghana Fixed Income Market, Augustine Simons; the Head of Strategy & International Relations, Diana Okine and the Head of Marketing & Public Relations, Jerry Boachie-Danquah.

The BoG Governor received the delegation in the company of the First Deputy Governor, Dr Maxwell Opoku-Afari, and some directors of the bank's departments.

The BoG Governor, congratulated Ms Amoah on her appointment and further expressed confidence in her ability to ensure a seamless transition from her predecessor, given her experience in the sector.

Dr Addison said the outlook for the economy remained positive and urged the GSE management to continue to work with relevant stakeholders to help create a robust economy to help improve the fortunes of the market.

He noted that the DDEP that was concluded in January was to facilitate a fiscal consolidation exercise meant to achieve macroeconomic stability and sustainable growth.

The Governor further stated that the private sector had a key role to play in the transformation of the economy and that private sector investment must lead with the state providing an enabling environment.

For her part, Ms Amoah expressed delight about the warm reception and commended the Governor for his leadership, which she said had positively impacted the financial sector.

On the stock exchange, the MD indicated that although the Ghana Composite Index declined by 13 per cent last year, the market recorded its largest trading value of about GH¢1.3 billion.

This, she said, was attributed to MTN Ghana floating more of its shares on the stock exchange.

The MD added that about GH¢230 billion was traded in fixed income market.

She informed the governor that in 2022, GSE was admitted as a full member of the World Federation of Stock Exchangers, placing the Accra bourse at par with the major players in the global stock exchange space.

Impact of DDEP

Ms Amoah said the DDEP, which was undertaken by the government as a condition precedent to the country’s entry into the International Monetary Fund (IMF) programme, had eroded investor confidence in the country.

To bolster investor confidence, the MD highlighted the need for increased financial literacy engagements, availability of sufficient investment information and the diversification of products on the market.

On the foreign exchange market, Ms Amoah said it was the intention of GSE to liaise with the central bank and other stakeholders to form a committee for the formalisation of the foreign exchange market.