NDPC, Stock Exchange to deepen capital market role in national development

The National Development Planning Commission (NDPC), and the Ghana Stock Exchange (GSE) have pledged to work together to accelerate national growth, the Chairman of the commission, Dr Nii Moi Thompson, has said. 

Dr Thompson, who is also the Presidential Senior Advisor on UN Sustainable Development Goals (SDGs), was speaking during a courtesy call on the Managing Director of the GSE, Abena Amoah, in Accra.

Present was the GSE’s Head of Strategy, Diane Okine.

Private sector support

He said besides helping private investors to mobilise funds for businesses and infrastructure development, deepening and expanding activities of GSE would also give citizens a greater stake in the economy through ownership in various companies.

"Currently, we remain tenants on our own land; the largest and most lucrative parts of the economy are dominated by non-Ghanaians," Dr Thompson said.

He said that foreign investors should be given incentives to partner Ghanaians, while policy is strengthened for purposeful transfer of world-class technology and management practices to grow the private sector in the country.

Dr Thompson said the commission had begun a research programme on finance, insurance and real estate (FIRE) to gain greater insights into their potential to stimulate national development and also advice the government on its policy choices about the sectors.  

Capital markets

For her part, Ms Amoah, said that capital markets were crucial to mobilising private finance for economic development, including the provision of infrastructure.  

She said the lack of well-structured investment opportunities in the country had forced many citizens to invest annually in various schemes abroad.

Ms Amoah pledged to deepen collaboration with the NDPC by supporting its policy research agenda with relevant data.

It would also involve the commission in as many of its programmes as possible.