SEC urges GIPC to woo portfolio investors

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• Kweku Baiden 11 years ago

  The SEC Director cannot be serious and this is symptomatic of our leaders. He sat there and allowed a Bank MD to essentially stop a legal tender process. When Republic Bank passed 30% ownership of HFC, a listed bank on the ...
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  The SEC Director cannot be serious and this is symptomatic of our leaders. He sat there and allowed a Bank MD to essentially stop a legal tender process. When Republic Bank passed 30% ownership of HFC, a listed bank on the Ghana Stock Exchange, they should have been forced to tender. But the SEC hid behind arcane BOG rules and an ego driven MD and never enforced the regulations. Why should Portfolio investors look to Ghana when rules that are clear are violated with no consequences. Investors can have no confidence in the market when the SEC sits there as a passive participant in a very public transaction which denies all shareholders their rights.

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