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 public confidence.
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.