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SEC launches “the Ghana capital market master plan”

BY: Naa Anyema Collison

The Securities and Exchange Commission has launched THE GHANA CAPITAL MARKET MASTER PLAN themed; in pursuit of a deep, diversified and well-regulated capital market for accelerated growth and development.

The CMMP, which was developed by a working group drawn from key stakeholders in the financial sector, is an essential component of the SEC’s mandate of regulating, innovating, and promoting the growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.

Speaking at the launch of CMMP, the Minister of Finance, Mr Ken Ofori-Atta, in his keynote address, underscored the importance of the capital market. He again noted that improving access to long-term finance would be a key enabler for achieving the objectives of the program, hence the need for the CMMP. The CMMP, which was developed by a working group drawn from key stakeholders in the financial sector, is an essential component of the SEC’s mandate of regulating, innovating, and promoting the growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.

Also speaking at the launch, the Director-General (DG) of the SEC, Rev. Daniel Ogbarmey Tetteh further emphasized the importance of the capital market as the place for raising ‘patient capital’ which is critical for financing growth.

He highlighted the benefits of the capital market for different stakeholders.

For example, he said for the ordinary citizen, it would enable the creation of jobs, as businesses would be able to raise capital; for business owners, it would also facilitate the expansion of business and create a viable avenue for investors to deploy surplus funds.

He surmised that the capital market would be critical to the growth aspirations of Ghana. The ten-year CMMP would be the engine to facilitate this important transformation through the key initiatives spelt out in the document.

The vision of the CMMP is “In Pursuant Of A Deep, Efficient, Diversified And Well-Regulated Market With A Full Range Of Products Attractive To Domestic And International Investors”.

The vision will be achieved on the back of these four (4) keys pillars of the Capital Market Master Plan. The CMMP, which was unveiled on Monday 24 May 2021 at the Labadi Beach Hotel in Accra, brought together other regulators in the financial sector,
from the Ghana Securities Industry Association, the World Bank, the Ghana Stock exchange, the Ghana, commodity Exchange, the Ministry of Finance, the Foreign Commonwealth & Development Office, and many other key stakeholders.

Source: Adoanewsonline.com

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