Second Deputy Governor of the Bank of Ghana (BoG), Elsie Awadzi-Addo, has said the Securities and Exchange Commission’s (SEC) 10-year Capital Market Master Plan project is key to the economic transformation of the country.
According to the Second Deputy Governor, the master plan will reposition the country’s capital market to make it a viable source of medium and long term capital for businesses and other economic actors who need capital to expand their business operations.
Adding that, the master plan which is soon to be implemented will engender sustainable economic development through a range of innovative financial products that will be made available.
It will also provide investors with more opportunities to invest and grow their money on a more sustainable basis, she stated.
”We at the Central Bank believe the master plan will reposition the capital market as the key player of our economic transformation agenda going forward.”
“We believe that a viable and more robust capital market is the necessary compliment to a viable and robust banking sector which we have been working on in the last few years.”
“Together with the banking sector, the capital market, insurance and pension sectors are needed so that the economic transformation agenda is fully founded,” she stated calling for collaborative support for SEC’s implementation of the master plan.
The 10-year Master plan project launched by the Commission, aims at diversifying the capital market as well as boosting economic growth.
The plan is intended to help raise enough capital for key infrastructural projects in order to meet the country’s growth agenda.
It is expected to serve as a blueprint for developing the market in Ghana over the next 10 years.
According to SEC, the vision of the Capital Market Master Plan (CMMP) is “a deep, efficient, diversified and well-regulated capital market with a full range of products attractive to domestic and international investors.”
The vision will be achieved on the back of four (4) keys pillars of the Capital Market Master Plan:
- Improving diversity of investment products and liquidity of securities markets (to enhance investor participation and improve market liquidity).
- Increasing the investor base and promoting innovation and product diversification.
- Strengthening infrastructure and improving market services (to improve market integrity and accessibility).
- Strengthening regulation, enforcement, and market confidence.