Ghana’s Securities and Exchange Commission (SEC) is to receive support from the Financial Sector Deepening Africa to strengthen its work.
A memorandum of understanding to that effect has been signed between Financial Sector Deepening (FSD Africa) and Ghana’ Securities and Exchange Commission under the Africa Regulator Support Programme.
Ghana’s SEC becomes the second capital regulator to formalise its participation in the programme, supported by the UK Department for International Development (DFID).
The FSD Africa agreement would also support the development of the non-government bond market including corporate and municipal bonds.
FSD Africa was established through UK Aid support in 2012 to help eradicate poverty by building inclusive financial markets.
It works with governments and industry across countries in Africa to support access to financial services, help develop capital markets and instruments for investment and economic growth.
The agreement was signed by Daniel Ogbarmey Tetteh, the SEC Director General and Mr Evans Osano, the Director of Capital Markets Development at FSD Africa.
The agreement was signed at the just ended 3rd Capital Market Conference and Exhibition in the Ghana’s Capital Accra.
Ogbarmey Tetteh said the partnership was important in deepening the capacity of the Commission to effectively provide regulation to the capital market.
“We are excited and believe that it would be a mutually beneficial partnership for the next two years and the results would be shown,” he said.
Mr Evans Osano said FSD Africa was looking forward to working with the SEC and other stakeholders to deepen the capital markets so that Ghana could raise enough long term capital needed for priority sectors.
SEC Nigeria became the first capital market regulator to join the programme in September. FSD Africa is expected to implement the programme in seven key markets including Kenya, Mozambique, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe.
Source: Africafeeds.com
