Second gold-backed Exchange Traded Fund coming to the GSE this year

The Ghana Stock Exchange (GSE) is anticipating the listing of a gold-backed exchange-traded fund (ETF) on the bourse this year.

The first and currently listed gold ETF on the local bourse is the ABSA-backed gold ETF with 2.9 million issued shares priced at GHS 345.50 with a market capitalization of GHS 1 billion.

The upcoming listing of the gold-backed ETF was disclosed by the Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, during an interview with Bloomberg.

According to her, the Minerals Income Investment Fund (MIIF) will be behind the listing of the gold ETF.

We are working with the Minerals Income and Investment Fund, which is our state sovereign wealth fund based on natural resources and this year, they are going to launch a new gold-back ETF on the market,” she quipped, adding that MIIF will be looking to make further listings of its gold ETF on different exchanges following its initial listing on the GSE.

Originally, the MIIF Gold ETF was to be listed on the GSE in September 2023 but has been delayed to this year with the GSE MD confident of the listing taking place this year.