The making of a Sub-Saharan African success story: The case of cross-border listing of trust bank limited of the Gambia on the Ghana Stock Exchange

This study evaluates the process of transformation of Trust Bank Limited (TBL) from government control to a private‐listed banking company on the Ghana Stock Exchange (GSE). Specifically, the objectives are (a) to describe and analyze the important aspects/characteristics of the cross‐border listing of TBL on the GSE; (b) to assess the extent to which the cross‐border listing of TBL on the GSE from 2002–2004 can be considered a success; (c) to explore the extent to which the GSE provides a window of opportunity for other non‐Ghanaian companies to achieve value‐added wealth for their shareholders by listing on the GSE; and (d) to assess whether the GSE can offer a listed Gambian company sufficient international exposure. Secondary and primary sources were used for this study. Analyses of statistical data available suggest that the majority of respondents hail the listing of Trust Bank on the GSE as a resounding success. Over 80% of respondents strongly agree that the listing of Trust Bank on the GSE has made the bank one of the most profitable in the Gambia. It has also improved its service delivery and has given the bank international exposure. In view of the findings presented in this article, it is concluded that the GSE can offer a wide range of opportunities for other West African companies to raise value‐added capital for future investment ventures. © 2009 Wiley Periodicals, Inc.