If you are looking for a profitable investment option in Ghana, you might want to consider the stock market. By buying stocks, you can benefit from the growth of the Ghanaian economy and diversify your investment portfolio. But how do you buy stocks in Ghana? In this article, we will give you a complete guide on how to buy stocks in Ghana with MTN MoMo.
Analysing potential stocks to invest in
If you are an MTN user and you are interested in investing in the Ghana Stock Exchange, you have a limited choice of seven stocks: MTN, Ecobank, Enterprise, Fan Milk, CAL Bank, Stanchart and Ghana Commercial Bank. These are the only stocks that are compatible with the MTN Mobile Money platform. To make informed decisions, you need to have some basic knowledge of forex trading. You can click here to learn more. With the acquired knowledge, you will be able to analyse the stock market. In Ghana the best place to find a line chart of all the stocks is here (https://afx.kwayisi.org/gse/). You will find a lot of listed stocks that you can click and be directed to the chart.
How to buy stocks in Ghana with MTN MoMo
To buy the stocks with your MTN Momo, follow the steps below.
- Dial *170# to access the Mobile Money Menu.
- Select option 5 (Financial Services).
- Select option 6 (Trade Shares).
- Enter PIN.
- Select option 2 (Buy Shares).
- Select the Stock you want to buy.
- Enter how much you would like to spend.
- Select 1 to continue and enter your PIN when you receive the MoMo prompt or go to approvals if it delays.
FAQ
What is the minimum amount required to invest using MoMo?
You will see the minimum amount you can spend before you buy the stock.
Are there any risks associated with investing in the Ghanaian stock market?
Investing in the Ghanaian stock market, like any other investment, involves some risks. Some of these risks are market fluctuations, economic and political uncertainties, risks related to specific companies, and risks associated with currency exchange, to name a few. To avoid or reduce any possible losses, you need to be aware of these risks and have a plan to manage them.
How can I stay informed about the performance of the Ghanaian stock market?
There are several ways to stay informed about the performance of the Ghanaian stock market. You can read financial news publications, follow market analysts and experts on social media, attend investment seminars and conferences, and regularly check the Ghana Stock Exchange website for the latest market updates and stock prices.
How do I sell my stocks using MTN MoMo?
To sell the stocks with your MTN Momo, follow the steps below.
- Dial *170# to access the Mobile Money Menu.
- Select option 5 (Financial Services).
- Select option 6 (Trade Shares).
- Enter PIN.
- Select option 3 (Sell Shares).
- Select the Stock you want to sell.
- Enter how many shares you want to sell.
- Select 1 to continue and enter your PIN when you receive the MoMo prompt or go to approvals if it delays.
