Business News of 2014-06-12

SEC to set up fund for capital market education

The Securities and Exchange Commission (SEC) says it is working to establish an investor education and protection fund.

Speaking on Business Trends, a business news analysis programme on Joy FM, Director General of the Commission, Adu Anane Antwi, said the fund is part of efforts to educate Ghanaians on the workings of the capital market to aid its growth, while promoting the culture of investments in the country.

“I would have wish I get vans like the Information Service vans to go to Makola (market) to preach the gospel of investment, savings education to people so that [they] understand”, he said.

Speaking on the same program, investment analyst with African Alliance, Derick Mensah, said although the idea might be good its implementation could be a major hurdle.

“I think it is good if we structure it to begin with our young people…to sink it in their attitude that saving is good, stock market is good. It is a long term approach but if we get it right, and start it early, the future will come sooner than we know”, said Derick Mensah.

According to him, SEC’s approach to target informal sector workers, like traders at the Makola market may not be successful, citing a previous experience by some private firms as an example.