The Securities and Exchanges Commission (SEC) is warning the public against the activities of a company called PBAY Limited. PBAY Limited according to SEC is an entity purporting to be able to facilitate the payment of customers locked-up funds with some SEC-regulated market operators whose licenses have been revoked in return for fees or a …
The Securities and Exchange Commission (SEC) has launched an engagement series dubbed, “Time with the Commission” to drive closer partnerships with the investing public and other market operators in the capital market. The initiative forms part of the Commission’s mandate of regulating, innovating, and promoting the growth and development of an efficient, fair, and transparent …
UK Export Finance (UKEF), the UK government’s export credit agency, has placed its market risk appetite for Ghana at £1.5bn, which should support more investment and trade between the two countries, the West Africa regional representative of UKEF, Steve Gray, has said. Market risk appetite is the willingness of investors to bear financial risk, with …
About GH¢10.8 million will be disbursed to the accounts of 340 customers of liquidated Fund Management Companies by close of Monday, October 12, 2020. Mr Kofi El-Awuku, the Managing Director of GCB Capital Limited, the implementer of the Government bailout package, told the Ghana News Agency that the process for another batch of payment to …
SEC issues new guidelines for market operators; Custody, Fund Managers need GHS50m, GHS2m to operate
The Securities and Exchange Commission (SEC) has issued new operating guidelines and a corporate governance code that will regulate the capital market and enhance confidence in the sector. The new directive is in accordance with Section 209 of the Securities Industry Act 2016, (Act 929). The guidelines include licensing requirements for market operators, regulatory sandbox …
The Sustainable Development Investment Partnership (SDIP), an initiative of the World Economic Forum and the OECD, in partnership with the Government of Ghana through the SDGs Advisory Unit in the Office of the President, and the UN Development Programme (UNDP) held the first Ghana SDGs Country Financing Roadmap Roundtable on September 16th 2020 in Accra. …
The headline data concerning Ghana’s capital market does not look particularly enticing as the Ghana Stock Exchange is in its third consecutive year of a bear market. But look beyond those headlines and one sees one of the most vibrant securitized debt markets in Africa. This should not be particularly surprising for investors and analysts …
Four out of the 50 Fund Management Companies (FMCs), whose licences were revoked by the Securities and Exchange Commission (SEC) have filed applications in Court challenging the decision. A statement issued in Accra by the Commission said the cases were at various stages in Court and had resulted in a situation, where no other action …
In a COVID-19 era where National Oil Companies (NOCs) in the world are grappling with uncertainty, Ghana ignores global energy evolution at its own peril, international experts in the oil and gas space have warned. Advisor with the Natural Resource Governance Institute (NRGI) Patrick Heller maintains that with lots of International Oil Companies (IoCs) revising …
In an effort to further protect investors, the Securities and Exchange Commission has issued a new directive to all Capital Market Operators open, maintain and operate Trust Accounts for and on behalf of its clients, effective Thursday, July 16, 2020. According to the Regulator, the Trust Fund shall hold all monies received from clients or …