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Finance & InvestmentWed, 17 Nov, 21

Ghana Stock Exchange To Implement Green Market Products- Ken Ofor-Atta

Ghana Stock Exchange To Implement Green Market Products- Ken Ofor-Atta

The Minister of Finance, Ken Ofori-Atta, has revealed that the Ghana Stock Exchange will develop products such as Green Market products and derivatives to increase the investing opportunities of pension funds to help enable them to diversify their growing asset base to better balance their risk and returns.

The Finance Minister made this known in the 2022 Budget Statement and Economic Policy in Parliament on Wednesday, November 17, 2021.

Ken Ofori-Atta further request the GSE to increase its engagements with the National Pension Regulatory Authority (NPRA) and its members to boost the pension industry’s investments in the real sectors of the economy.

He announced that the Ghana Stock Exchange is in the process of signing on to the Global Reporting Initiative (GRI) for listed companies to comply with global standards on sustainability reporting.

“Mr. Speaker, in line with its strategic plan, the GSE will continue to introduce FINTECH-related products and invest in technology to improve participation in its markets. While undertaking these initiatives to improve its cybersecurity and to forestall the attendant risks that accompany such technology, the GSE has also taken steps to obtain ISO Certification.

“The GSE will strengthen its relations with its international partners and associations to position it as an internationally recognised securities market. It will also participate in projects such as the Africa Securities Linkage Project which seeks to establish a Single Borderless African Capital Market,” Ofori-Atta said.

He lauded the GSE for their collaborating on a project called the West African Capital Market Integration (WACMI) project. The aim of the project is to establish a harmonised regulatory environment for the issuance and trading of financial securities across the region.

The project, which is in its second phase, will see the trading of securities across the region by qualified brokers when approved by the Regulators,” the minister said.

 

Source: Mohammed Bomanso Issah (Real Estate Times Africa)

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