Written by Zainabu Issah | From Graphic Online

The Deputy Minister of Finance and Economic Planning, Madam Moona Quartey has called for the integration of Ghana’s capital market into regional markets such as Nigeria as well as in Francophone markets.

She said the development of such interrelated markets would not only contribute to regional financial stability but also strengthen related companies in the economy. Madam Quartey was speaking at the fourth edition of the Ghana Investment Awards (GIA) on the theme “Ghana’s Capital Market in the New Ghana Economy.
The occasion also saw the unveiling of the official magazine for the 2013 GIA.

About the Awards

The event, organised in collaboration with the Premier Networking Investment Club (PNIC), seeks to recognise excellence in the country’s investment industry.

The award assesses the performance of 22 brokerage firms and 63 investment advisor firms duly licensed by the Securities and Exchange Commission (SEC) and all listed equities on the Ghana Stock Exchange (GSE). In all 10 out of the 12 categories of awards were presented, with the award for the Deal of the Year and the Advertising Campaign of the Year being going to no one.

The Capital Market

Madam Quartey said Ghana’s capital market since its establishment had gone through various stages of development. “Today, the market arguably is one of the best performing markets in Sub-Saharan Africa,” she said.

Madam Quartey said however that there was the need to put in more effort to broaden and deepen its goals. To achieve this, she said there was the need for the country to have an efficient and effective market that was strong, sustainable, well-structured and played an essential role in national development.

She said there was also the need for an enabling environment that would allow for the transformation of the Ghanaian economy by becoming the first point of call for domestic savings for an interactive investment.

“They must be able to finance our nation’s huge developmental needs as outlined in our medium term development framework,” she said.

Read more at Graphic Online