CHICAGO - March 19, 2007 - Order of Kush International founder Earl Smith today announced the 
formation of the Ghana American Stock Exchange (GASE), believed to be the first public stock exchange organized exclusively to foster the sale of stock in African and American businesses.
"When I received clearance from the U.S. Security and Exchange Commission to establish an alternative stock exchange, I promptly named it the Ghana American Stock Exchange," Smith explained in a press release announcing the exchange. Smith is founder of the Order of Kush, an international honor society that recognizes the scholarly and other achievements of people of African ancestry.
"This exchange will serve as a clearinghouse for thousands of African American and African-owned small businesses," he said. "As with other public stock exchanges, the businesses will be financed through sales of stock in the businesses. This means, of course, that the securities must be registered with the SEC as well as with individual state regulatory bodies. "It marks the first time a stock exchange was designed exclusively to promote black businesses. When operable the exchange is expected to generate nearly $600 billion annually from investors." Smith said the idea behind the exchange is to form a trading block that unites the vast resources of Africa with the economic prowess of African-American investors.
He added that the exchange gets its name from a suggestion from the Order of Kush Ghana chapter leader in Accra, Ghana, but is not a part of the Order of Kush. GASE is aimed at all investors, not just African AmericansConcurrent with the announcement of GASE, Smith said he hopes to raise seed money for the exchange through "Adopt-a-Business," which is aimed at what Smith calls "large corporations with a social conscience." He said Adopt-aˍBusiness is a take-off of the program instituted by AT&T in the 1960s when the telecommunications giant formed subsidiaries with minorities businesses that in turn provided telephone parts and services for the parent company. In many cases, AT&T and other corporations bought shares of stock in the companies. "I want to revive that spirit of cooperation," said Smith. "Thousands of jobs were created in the innercities through this program. It engendered a sense of pride in many a small-business owner. They saw themselves as participants in America's prosperity. Somehow, in the upheavals of the sixties, we lost a lot of that."
About Order of Kush
Order of Kush International is a 501(c)(3) nonprofit honor society that was formed in Chicago in October 2004 to aid in changing the perception of people of African ancestry while rewarding scholars for their achievements. The society currently has chapters in Accra, Ghana; Atlanta, GA; Baltimore, MD; Chicago; Columbus,OH; Detroit; Ft. Lauderdale, FL; Montreal, Canada; San Francisco; St. Louis; and Washinton, DC.Order of Kush
News Staff
Website: www.orderofkush.org
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