Dubbed, ‘Timewith the SEC’ Tamale edition, the programme which is a flagship initiative of the SEC forms part of the SEC’s strategic thrust of educating members of the investing public and other key stakeholders about the SEC, the Ghanaian Capital Market and other important investment topics.
The theme for the event was “Understanding the role of SEC in the Capital Market” and it featured topics such as how to make use of the Capital Market (buying shares, collective investments schemes and capital raising); and how to identify Ponzi or Pyramid Schemes.
The event was also used by the SEC to provide latest information on the government bailout programme as well as share other updates in the Securities Industry.
There was also an engaging open forum which provided the investing public with the opportunity to ask questions and make their issues known directly to the SEC.
According to a statement issued by SEC in Accra yesterday, said Naa Yab Gulkpe, Alhaji Naa Alhassan, Paramount Chief of Tamale and Chairman of the programme whose speech was read on his behalf thanked the Securities and Exchange Commission for organising its flagship programme in the Northern Region.
According to him, the capital market was of utmost significance to growing economies since such economies need new forms of financial intermediation to finance investments that are either too long term or too risky for commercial banks to venture into.
“Such long-term financing makes the capital market an important driver for spurring economic growth and innovation,” he said.
He further noted that the high level of ignorance among the investing public was a challenge that must be tackled because in many cases people who fall victim to fraudulent investment schemes were not well informed about investment and capital market activities.
“I therefore applaud the Securities and Exchange Commission once again for looking beyond the national capital for this outreach programme” he added.
The Northern Regional Minister, Alhaji Shani Alhassan Saidu, in his remarks stated that the capital market was a very important part of Ghana’s financial industry since it brings together suppliers of capital and those who seek it for varied purposes.
He noted that the Northern part of Ghana encompasses various opportunities that needed to be harnessed and leveraged to unearth massive benefits to the country. Additional remarks were also made by the Director-General (DG) of the SEC, Rev. Daniel Ogbarmey Tetteh, who explained the rationale for the programme.
According to Rev. Ogbarmey Tetteh, the event sought to demystify the capital market and help members of the investing public and the public better understand it.