Accra, Oct. 23, GNA – The 2018 edition of the
Capital Market Week celebrations has been launched in Accra with a focus on
intensive public education on the activities of the capital market.
Organised by the Ghana Securities Industry
Association (GSIA), the week-long seminar will assemble experts from the
financial services sector to deliberate on the challenges in the sector through
identifying long-term measures to safeguard the industry and also increase
There will also be outreach programmes and
seminars to educate the general public on the capital market.
It is being held under the theme: “Transforming the Capital Market through
Better Corporate Governance.”
Speaking at the launch, Mr Emmanuel Alex
Asiedu, President of the Association, said the capital market is a big
understated industry in the country.
He said the stock exchange market
capitalisation is about GH¢66 billion, which is 25 percent of the country’s GDP
while assets under management by fund managers is over GH¢40 billion.
However, he said, there are many issues
plaguing the industry such as lack of education, lack of appropriate investment
culture and corporate governance issues.
“We hope that in broadening the debate, we
will find out how we can use corporate governance to raise the standards in the
capital market,” Mr Asiedu said.
Mr Paul Ababio, Deputy Director-General,
Securities and Exchange Commission, said investments are critical to
development, economic growth and job creation.
He said corporate governance is key to the
success of businesses as it details how decisions are to be made.
Mr Ababio expressed the hope that more SMEs
would leverage the capital market to raise funds to expand their operations.
Marian Dsane, Executive Secretary, GSIA, said
the celebrations are meant to create awareness of the capital market as an
avenue for creating financial wealth and accessing long-term capital, which are
essential to the economic growth and development of the country.
She said the size and robust growth of the
industry requires regulations, strong industry leadership in the way of
corporate governance, and best practices.
Ms Dsane said there will Capital Market
seminars to engage regulators, policymakers and financial sector players to
discuss relevant issues all aimed at the protection of investors and creation
of value for businesses.
Some of the activities planned for the week
include Financial Literacy Education on Radio and Television, Capital Market
Seminar, and Capital Market Debate Programme for six Tertiary Institutions.