Audio By Carbonatix
The Securities and Exchange Commission (SEC) has directed local fund managers to reduce offshore investments to protect the cedi and strengthen macroeconomic stability.
Ghana, a major gold and cocoa producer, is emerging from its most severe economic crisis in decades, and it is expected to complete a three-year IMF support programme in August.
The SEC said in a circular late on Friday that, with immediate effect, local fund managers will not be allowed to invest more than 20% of their funds under management in foreign securities.
Funds that were previously allowed to invest all their money offshore will now be limited to 70%.
Any investment in foreign securities may be made only in countries that share information with Ghana's SEC, the regulator said.
Latest Stories
-
PURC, ECG and GRIDCo align plans to ensure stable power supply during 2026 FIFA World Cup
5 minutes -
Ghana launches National Shea Commodity Platform to commercialise shea production
16 minutes -
Bawumia holds talks with British High Commissioner in Accra
20 minutes -
AFF study documents 115 edible forest species and indigenous knowledge in biodiversity hotspot
20 minutes -
MPs partner with Afarinick to boost Ghana’s cocoa production capacity
29 minutes -
Where are the jobs?- Sammy Awuku questions government
37 minutes -
Ghana needs effective solutions to rising unemployment, not slogans – Oppong Nkrumah
42 minutes -
Oppong Nkrumah calls for overhaul of Ghana’s youth employment strategy
51 minutes -
Minnesota attacker pleads guilty in killing of lawmaker and husband, avoids death penalty
54 minutes -
When does personal conduct become institutional responsibility? The GES debate explained
55 minutes -
Scientific consensus calls for wildlife protection to be integrated into global climate change policy
1 hour -
Seequent turning old data into the new mining edge
1 hour -
NPA receives ultra-modern tanker drivers’ rest stop at BOST Kumasi depot
1 hour -
Toronto police officer dies in raid linked to US consulate shooting
1 hour -
Black Sherif and how to listen to Ghanaian pop
1 hour