IT company Main One Cable considers listing on Ghana Stock Exchange

International Communication Service provider, Main One Cable has hinted it is considering listing on the Ghana Stock Exchange in the future.

This was disclosed by the West African Regional Executive, Kazeem Ladepo during an interview with Joy Business on the sidelines of the company’s business breakfast meeting in Accra.

It was held for the company’s service providers and customers.

He said although the company has Ghanaian shareholders it will make the move base on market demands and a boost in profit.

As part of measures to encourage Ghanaian participation in international businesses operating in the country, President Nana Addo Dankwa Akufo-Addo has rolled out programmes that are business-friendly.

He has announced the initiative to enable international companies with more than five years existence to list on the country’s bourse.

The initiative is also expected to improve trading on the bourse and strengthen the capital market.

The decision by Main One Cable Limited to list on the stock exchange is likely to bring a positive outcome to the telecommunication industry. Since it started operation in Ghana in 2010, the company’s client base is rising.

The telecom industry is undergoing a consolidation in recent times due to the decision by some major players to merge their operations.

The merger is expected to enhance competition and give customers the opportunity to choose a better network of their choice.

Commenting on the recent merger by two telco giants, Tigo and Airtel,  Mr Ladepo said the move is one of the best consolidations that will see customers get maximum benefit.

Meanwhile, sources close to Joy Business have disclosed the merger deal between the two telcos will see some top managements members of the two companies opting out to pursue their interest in other areas of the industry.