Accra, July 17, GNA – The Board of Commissioners of the Securities and Exchange Commission (SEC) has paid a courtesy call on the Asantehene, Otumfuo Osei Tutu II.
The visit was to introduce the Board of SEC to the Asantehene and to brief him on key reforms being undertaken by the Commission to strengthen the Ghanaian securities market and build investor confidence.
Dr. Yeboa Amoa, Chairman of the Board, who led the delegation, thanked the Asantehene for his warm reception.
The visit was also for the Board to inspect a commodity warehouse managed by the Ghana Commodity Exchange (GCX) in the Region.
Rev. Daniel Ogbarmey Tetteh, Director-General of SEC, briefed the Asantehene on the state of the Ghanaian capital market, the Capital Market Master Plan (CMMP) and SEC’s new approach to supervising the securities market.
He said though SEC had seen a lot of growth in the past ten years, there still existed pockets of challenges that were hindering full patronage of the market, but efforts were being made to address them.
The Director-General said SEC had taken steps to strengthen its operation to be more proactive by modifying its supervisory role to risk-based supervision.
That, he said, would strengthen its oversight role with digitalised and decentralised operations nationwide.
Otumfuo Osei Tutu urged SEC to restore the lost confidence in the securities market and expand the investor base to deepen the market.
He said that was necessary because people were beginning to keep their monies at home instead of investing them due to recent happenings in the in the financial market.
GNA