Intensify education on capital market
The Provost of the College of Arts and Social Sciences at the Kwame Nkrumah University of Science and Technology (KNUST), Professor Samuel Afranie, has called for the intensification of education on the capital market.
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That, he said, would help attract many people to invest in the sector, which stands the chance of turning the economy around, by making funds available to business as at lower cost.
It would also create thousands of jobs for the youth, through heavy investment by both the government and the private sector.
Prof. Afranie made the call when he chaired an investment forum to climax this year’s ‘Capital Market Week’ at the KNUST in Kumasi.
As part of activities to mark the week, there were radio talk shows across the country to sensitise people to the investment market in all the regions of the country.
The forum was organised by the Securities and Exchanges Commission (SEC) Ghana on the theme “The capital market: Creating wealth for all.”
It brought together players in the investment industry in the country.
Some of the players in the industry present at the forum were Prestige Capital, Global Investment Ltd, New Generation Investment Services and UTRAK Capital.
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A recent survey commissioned by the Ministry of Finance and Economic Planning on urban and rural adults concluded that financial literacy in general was very low.
This posed a hindrance to the development of the financial sector and had a negative effect on the national economy.
Capital market typically involves issuing investment instruments for the medium-term to long-term, with maturities exceeding one year.
Prof. Afranie stated that there were presently only 32 institutions registered to operate in the capital market, which to him was too small for the nation but said intensified public education could attract many players to the sector.
The General Manager of UTRAK Capital Management Ltd, Mr Philip Kobina Abodoh, lamented the low patronage of the youth in the capital market and urged them to start investing now to avoid suffering and depending on their pension benefits which might not be able to provide for all their needs.