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Raw deal from the NSE, Ghana Stock Exchange = Real Thing
Rank: Elder Joined: 2/10/2007 Posts: 1,587
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stocksmaster wrote:@PKoli: Since I have an bank account with Ecobank Kenya, I was wondering the same concerning EcoBank and its Ghana Stockbroking entity (EDC Stockbrokers Ltd). There should be some benefit to be derived from purchasing shares using EDC Stockbrokers in Ghana since its is owned by Eco Bank(especially on bank transfers,dividends payments, cheque clearing etc)
Ecobank also has stockbrokerage services in Togo, Cote d'Ivore, Nigeria and Cape Verde.
I wrote to the EDC Stockbrokers in Ghana and was surprised that within six hours, i got a short confirmation of their receipt of my email and that they will reply to my inquiries in detail by the end of business today! This country (Ghana)is truly going places.
Will update you on the response once i get it.
Happy hunting. Many thanks Stockmaster, the information will be useful. I will consider openning an account with Ecobank if there is value in dealing with their broker firm. Please update us.
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Rank: Member Joined: 9/11/2007 Posts: 54 Location: Bermuda
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I have accounts at the NYSE, GSE (I use ESL, a subsidiary of Ecobank) and the NSE of course. The valuations of many companies at the Ghana Stock Exchange are very low at the moment: CAL bank is trading at a PE of 6, Ecobank Transnational which has a subsidiary in many African countries including Kenya is trading at a PE of just 7. The potential upside in 2-3 years is huge considering that Ghana's GDP is projected to grow by at least 11% next year as the Offshore Oil fields start producing "black gold". http://www.afrikainvestor.blogspot.com/
When you see clouds gathering, prepare to catch rainwater. - African proverb Gola Tribe When you see clouds gathering, prepare to catch rainwater. - African proverb
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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@Msafiri,
Assuming you are in Kenya,how do you send cash to ESL?
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Rank: Member Joined: 9/11/2007 Posts: 54 Location: Bermuda
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@Chaka I would suggest that you speak with someone at African Alliance who have a stock-broking presence in both Kenya and Ghana. Wiring funds from your bank should be straightforward once you have opened a brokerage account; your bank will use the SWIFT service to transfer funds. When you see clouds gathering, prepare to catch rainwater. - African proverb
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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msafiri wrote:I have accounts at the NYSE, GSE (I use ESL, a subsidiary of Ecobank) and the NSE of course. The valuations of many companies at the Ghana Stock Exchange are very low at the moment: CAL bank is trading at a PE of 6, Ecobank Transnational which has a subsidiary in many African countries including Kenya is trading at a PE of just 7. The potential upside in 2-3 years is huge considering that Ghana's GDP is projected to grow by at least 11% next year as the Offshore Oil fields start producing "black gold". http://www.afrikainvestor.blogspot.com/
When you see clouds gathering, prepare to catch rainwater. - African proverb Gola Tribe Am now interested. But if anyone of you guys try to swindle me... @Young Which stock market do you have the largest of your investment? How are Nigerian shares? Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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mv_ufanisi wrote:I just landed in the GSE and I can't believe how much more efficient it is than the NSE.
Basically there you have access to the electronic trading system and can see what's going on. U make the BUY and SELL decisions directly at a click.
Why is the NSE taking Kenyans at a 3rd world pace? NSE needs to innovate or die.
Kenya is fully asleep while other countries are overtaking us while we celebrate past success. Even Tz and Ug will be ahead of us within a few years.
NSE shouldn't be resting on their laurels while brokers screw stock buyers by failing to execute trades and coming up with excuses while hiding behind the holy grail of "investors are not allowed access to the system" and I had to go for lunch etc etc. Its a shame we allowed brokers here in Kenya run the bourse. Its like asking the hyena to take the goat to the market. We have scalawags running the local bourse here. Soon, and very soon, we will show the cartoons the door. They have no concept of efficiency. Thanks for sharing these with us. Check out Togo on your way back. They might be ahead of us here. Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Trading on BRVM (Togo) is a nightmare... Of course, they will be forced to shape up after Ghana catches traction as does Nigeria... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Surealligator wrote:mv_ufanisi wrote:I just landed in the GSE and I can't believe how much more efficient it is than the NSE.
Basically there you have access to the electronic trading system and can see what's going on. U make the BUY and SELL decisions directly at a click.
Why is the NSE taking Kenyans at a 3rd world pace? NSE needs to innovate or die.
Kenya is fully asleep while other countries are overtaking us while we celebrate past success. Even Tz and Ug will be ahead of us within a few years.
NSE shouldn't be resting on their laurels while brokers screw stock buyers by failing to execute trades and coming up with excuses while hiding behind the holy grail of "investors are not allowed access to the system" and I had to go for lunch etc etc. Its a shame we allowed brokers here in Kenya run the bourse. Its like asking the hyena to take the goat to the market. We have scalawags running the local bourse here. Soon, and very soon, we will show the cartoons the door. They have no concept of efficiency. Thanks for sharing these with us. Check out Togo on your way back. They might be ahead of us here. Thanks for update. What kind of volumes on average are we talking about? Is the market as vibrant as NSE?
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@ Chief Surealligator My highest portofolio in Africa is in Kenya due to growth). Outside Africa it is Hong Kong @stocksmasterI am speaking as a West African, I believe the initial answer you received from Ecobank Stockbrokers Ghana was an automated e=mail feed back , I strongly suggest you call them on phone. The case of @Pkoli is slightly different it is a broker to broker issue ie AA kenya client inquiring from AA Ghana. This my candid opinion. @ Chief VVSPlease forget about BRVM exceptif you can read and write French. Ghana market is the best option for now in west africa. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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In stock market investment in African countries direct phone calls goes a long way The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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young wrote:
In stock market investment in African countries
direct phone calls goes a long way
That helps agreat deal if you are unable to visit in person.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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PKoli wrote:
That helps agreat deal if you are unable to visit in person.
Even if you are visiting you have to call first and have a contact or reference person. I am having issues now with D & B because my contact person left the organisation, but he was good enough to let me know. If you do not like these hassles then forget about African countries and try your hands in advanced world. This ls part of the price to pay, but the rewards in years ahead far outweiighs the inconviniences. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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young wrote:PKoli wrote:
That helps agreat deal if you are unable to visit in person.
Even if you are visiting you have to call first and have a contact or reference person. I am having issues now with D & B because my contact person left the organisation, but he was good enough to let me know. If you do not like these hassles then forget about African countries and try your hands in advanced world. This ls part of the price to pay, but the rewards in years ahead far outweiighs the inconviniences. True Mzee young when you open an account with these stobrokreage firms, you have to get to some personal contact. I will assure you that unlike D & B that has very many people with accounts, AAKS does not have many accounts holders. I also believe that AA has better working system and so when a guy leaves, you still have the services going on. That said and done, when I went to Uganda I had to make it a point to meet the key guys who do the reports. I have since been following with a phone call and have found it to work really well. That is what I expect to do when I open the account in Ghana.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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You are absolutely right The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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