Federated Commodities PLC (FEDCo), a licensed shopping for firm, has raised GH¢72.5 million on the Ghana Inventory Change (GSE) to boost the liquidity and development of the corporate.
The quantity raised by the Industrial Paper Market on the Ghana Mounted Revenue Market (GFIM) of the Ghana Inventory Change (GSE), will assist to enhance the liquidity of FEDCo and improve its monetary capability to purchase cocoa this gentle crop season.
The Industrial Paper was launched by the GSE final yr to help company our bodies to boost quick time period loans to finance their operations.
Talking on the admission of FEDCo on the Ghana Mounted Revenue Market on Friday, the Managing Director of the GSE, Abena Amoah, mentioned FEDCo was the primary firm to be admitted onto the GFIM market.
“This landmark issuance underscores the effectiveness of the Industrial Paper Market in offering companies with various short-term financing alternatives,” she acknowledged.
The GSE MD mentioned the admission of FEDCo on the Commercial Paper Market marked a big milestone for Ghana’s capital market for the reason that Commercial Paper Market was launched in 2024.
She lauded FEDCo a number one cocoa shopping for firm for utilizing Industrial Paper Market to boost funds to finance its operations.
“The GSE remained committed to offering environment friendly, transguardian and sturdy platforms for company organisations to boost capital,” Ms Amoah acknowledged.
The Managing Director of Federated Commodities PLC, Maria Adamu-Zibo, mentioned FEDCo, was a number one participant in Ghana’s agriculture sector, was pioneering the short-term financing instrument to boost liquidity and enterprise development.
She mentioned her outfit wished to boost GH¢200 million however was in a position to increase extra GH¢72.5 million.
Mrs Adamu-Zibo mentioned the funding would assist the corporate to buy cocoa on this crop season.
“Issuing the first-ever Commercial Paper on the Ghana Mounted Revenue Market is greater than a monetary milestone, it’s an announcement of religion in Ghana’s capital markets and a reaffirmation of our dedication to the individuals and communities we serve.’’
The Managing Director of FEDCo mentioned her outfit had as much as August to retire the mortgage and mentioned FEDCo would come to the market once more to boost extra funding for cocoa purchases in the primary crop season in September this yr.
The Chief Government Officer of the Ghana Affiliation of Banks, John Awuah, who was the particular visitor of honour, in his tackle mentioned, ‘‘This inaugural issuance serves as a essential check case, and honoring cost obligations will likely be important in constructing and sustaining investor belief and confidence in related devices going ahead.’’
He mentioned FEDCo’s transfer would open the flood gate and encourage different company organisations to make use of the Commercial Paper Market to boost capital.
In his remarks, the Director-Normal of the Securities and Change Fee (SEC), Dr James Klutse Avedzi, reaffirmed the regulator’s dedication to fostering market confidence, imposing compliance, and strengthening collaborations with the Central Securities Depository (CSD), and market intermediaries.
He mentioned the profitable issuance demonstrated the increasing confidence of company entities in Ghana’s capital markets and bolstered the GSE’s dedication to offering diversified financing options for companies whereas providing traders good returns.
STORIES: KINGSLEY ASARE
