Capital market records growth
Ghana’s capital market had about US$70 billion in assets under its management for the year 2016.
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This is made up of collections between the “collective investment schemes and other investment schemes that are managed by managers” and includes pensions totalling about US$6.7 billion.
The President of the Ghana Securities Industry Association (GSIA), Mr Reginald France, said the country’s capital market had seen marginal growth over the past few years and described the year under review as one of the best.
At the launch of this year’s Capital Market Week in Accra on October 23, 2017, he explained that pensions alone in the Tier Two and Three were almost 4.5 per cent of the 2016 Gross Domestic Product (GDP), an indication that the collective members and its association were an integral part of the development in the country.
“It is important that all stakeholders, from investors to contributors, dialogue to understand the need to save to grow the economy,” he said.
The event
This year’s Capital Market Week, slated from October 24 to 26, 2017, is on the theme, ‘The Safety and Security of Ghana’s Financial Market’ and is aimed at raising awareness of the stock market activities within selected tertiary institutions in the country.
Activities include investment education seminars for tertiary students, television and radio broadcasts to educate the public on savings and investments, among others.
There will also be discussions on the capital market with presentations on the industry’s data and a competition for tertiary institutions on financial literacy.
The institutions drawn to participate in the competition are the University of Ghana Business School, the Kwame Nkrumah University of Science and Technology (KNUST), the Central University College, the University of Cape Coast (UCC) School of Business and the Marshal School of Business.
The GSIA
It comprises investment advisors, fund managers, brokers, registrars, trustees, among others, in the stock market industry and was established in December 2003 by 10 original members referred to as ‘GSIA membership’. It is managed by seven governing council members from the various investment advisors and regular members who deliberate on issues concerning the financial market.
The principal objective of the GSIA is to promote the collective interest of GSIA members - both public and private - as well as ensure professional standards in the industry and uphold the ethics of the industry.
The Capital Market Week celebrations will be climaxed in December with an awards dinner to celebrate the senior members of the council and the winniing school.The celebration also seek to educate Ghanaians, especially students of the various tertiary institutions in the country, on how to get rich through the capital market.