SEC GHANA ISSUES 2019 MARKET OPERATORS LEVY

The Securities and Exchange Commission of Ghana, SEC Ghana has reviewed and made publish its guidelines for market operators levy for this year 2019.

The guidelines contain annual levy payable by different categories of licensed operators, transaction levy and depository levy.

Stock Exchanges for example are to pay GHs 20,000 this year as levy while commodity exchanges will pay GHs 10,000.

Under the guidelines, securities depository, primary dealers, custodians and issuing houses will pay GHs 15,000 each.

Much the same way, Trustees will pay GHs 10,000;  fund managers will pay GHs 5000;   investment advisers and registrars will each GHs 3000 while warehouse operators will pay GHs 2000.

The SEC will by end of first quarter ask for the levies to be paid in full or within a maximum of 3 instalments.

Purchasers and sellers of securities are also to pay transaction levy of 0.15% for shares and 0.01%of nominal value for bonds. This bond levy will be shared 50% to Ghana Fixed Income Market; 30% to Central Securities depository and 20% to SEC Ghana.

There shall also be depository levy of 0.003% of face value payable within 15 days after the month of the transaction.

Since 2016, SEC Ghana had issued a number of guidelines on the capital market to ensure continued growth, accountability and transparency.

Among them were the mandatory disclosure guidelines which cover whole gamut of modern day disclosure requirements for listed companies; guidelines for issue of securities ; Commodity Exchange guidelines and proposed guidelines on unclaimed dividends.

Comments

Post a Comment

Popular posts from this blog

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more