African MarketsBusiness NewsGeneral NewsGlobal Markets

Ghana’s financial market to receive a boost after launch of Capital Market Master Plan – Ofori-Atta

Listen to this Article Now

The Minister of Finance, Ken Ofori-Atta, says trust in Ghana’s monetary business sectors should ascend, with the presentation of a 10-year vital Capital Market Master Plan by the Securities and Exchange Commission (SEC).

The Capital Market Master Plan (CMMP) is pointed toward expanding the capital market just as boosting monetary development.

The arrangement relies on four principle columns; making a variety of venture items and upgrading liquidity in the protections market, expanding the financial backer base, fortifying the framework and improving business sector benefits, and improving guideline, implementation, and market certainty.

It is likewise expected to help raise assets for key framework projects to meet the country’s financial development plan.

Talking at the dispatch of the 10-year key Capital Market Master Plan, Mr. Ofori-Atta said the making of such an arrangement is long past due as it is basic to the nation’s post-COVID-19 monetary recuperation.

“The Capital Market Master Plan couldn’t have come at a superior time. The Ghanaian capital market has regularly been promoted as one with various freedoms for development, predominantly because of the strength of customary protections in the space. In the meantime, Ghana is progressively turning into the decision objective for mainland drives, (for example, the siting of the AfCTA secretariat in Accra) and worldwide organizations. Also, the normal financial backer is turning out to be more shrewd and more presented to worldwide venture alternatives.

The assembly of these variables presents appealing freedoms to instill the capital market in Ghana with more profundity, expansiveness, and effectiveness for it to be situated as the market of the decision to the neighborhood, local, and unfamiliar financial backers. One of the drives that the public authority of President Nana Akufo Addo is seeking after is to reposition Ghana as the Financial Hub for the sub-locale and this Capital Market Master Plan would surely supplement it, subsequently making the dispatch exceptionally helpful,” he said.

The Director-General of the SEC, Rev Daniel Ogbarmey Tetteh, further underlined the significance of the capital business sectors as the spot for raising ‘patient capital, which is basic for financing development.

He featured the advantages of the Master plan for various partners, clarifying that, “for the conventional resident, it empowers the making of occupations, as organizations will actually want to raise capital, while it additionally works with the extension of organizations and makes a reasonable road for financial backers to send excess assets.”