Ghana’s Central Securities Depository operated by CSD (GH) Ltd has undergone a major upgrade with its implementation of Montran’s next-generation Central Securities Depository solution, marking a significant milestone in the modernization of Ghana’s financial market infrastructure. The upgraded new system went live a couple of weeks ago.
The new platform now fully operational unifies CSD Ghana’s core post-trade services, including depository, settlement, registrar, and auction management, under a single robust and scalable system.
This implementation enables seamless interaction with key stakeholders across the financial ecosystem, including the RTGS, Ghana Stock Exchange, Bloomberg, and Ghana Interbank Payments and Settlements Systems (GHIPSS) significantly enhancing efficiency, security, and interoperability.
Central Securities Depository (GH) Ltd., is a financial institution that holds and manages securities (like stocks and bonds) electronically, facilitating their transfer and settlement. It acts as a central hub for recording ownership and managing transactions of securities, eliminating the need for physical certificates and reducing risks associated with them.
By dematerializing securities, the CSD reduces risks like loss, theft, and damage associated with physical certificates, making transactions more efficient and secure.
The CSD is regulated by the Securities and Exchange Commission of Ghana (SEC) and governed by the Central Securities Depository Act, 2007 (Act 733). It was established through a merger of the Bank of Ghana’s CSD and the Ghana Stock Exchange’s GSD, with the goal of creating a unified system for managing all securities in Ghana.
“This goes-live represents a strategic leap forward for Ghana’s capital markets,” Joseph Oko Lartey, Chief Executive Officer of CSD Ghana has said. “The ability to offer real-time, integrated, and secure services not only benefits our local stakeholders but also strengthens our global competitiveness.”
The new system replaces legacy infrastructure that had become increasingly fragmented and operationally limiting. With Montran’s advanced architecture, CSD Ghana can now deliver faster settlement cycles, improved liquidity management, and increased resilience to operational risks. The system also reinforces regulatory alignment and positions the institution to support new asset classes and services in the years ahead.
A key innovation in this go-live is the launch of CSD Ghana’s new Investor Portal, which allows real-time access to investor portfolio data and instant onboarding of new accounts. Investors can also monitor holdings and transactions on-the-go.
These features significantly enhance the user experience and enable more inclusive market participation.
Key improvements include enhanced operational efficiency and automation through real-time settlement of securities transactions, reducing delays and improving liquidity in the market, automated end-to-end transaction workflows, minimizing manual intervention and errors and scalability which enables the platform can handle higher transaction volumes, supporting Ghana’s growing capital markets.
The upgraded platform also offers features like pre-trade checks, collateral management, and automated fail management to reduce settlement risks and supports regulatory compliance by aligning with global standards such as ISO 20022 and local regulations, to ensure transparency and auditability.
Additionally, the new platform provides support for new financial instruments, enabling trading and settlement of ETFs, and potential digital assets such as blockchain-based securities in the future. It also facilitates cross-border settlements, positioning Ghana’s market for integration with other African stock exchanges.
By Toma Imirhe
