Investor Protection Fund

Auditing and accounting firm, PwC, is upbeat the Investor Protection Fund outlined in the 2023 Budget would restore investor confidence which it describes as low due to the various rating downgrades and the recent decline in investment valuations. It is however warning that the proposed debt exchange programme is likely to further spur the rate of client investment withdrawals. This is coming after the capital market has in recent past recorded significant withdrawals of clients’ investments, following speculations about the government’s debt restructuring programme. However, the government intends to propose an amendment to the Securities Industry Act, 2016 (Act 929)…