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
-
Bawumia holds talks with British High Commissioner in Accra
48 seconds -
AFF study documents 115 edible forest species and indigenous knowledge in biodiversity hotspot
1 minute -
MPs partner with Afarinick to boost Ghana’s cocoa production capacity
10 minutes -
Where are the jobs?- Sammy Awuku questions government
18 minutes -
Ghana needs effective solutions to rising unemployment, not slogans – Oppong Nkrumah
23 minutes -
Oppong Nkrumah calls for overhaul of Ghana’s youth employment strategy
32 minutes -
Minnesota attacker pleads guilty in killing of lawmaker and husband, avoids death penalty
35 minutes -
When does personal conduct become institutional responsibility? The GES debate explained
36 minutes -
Scientific consensus calls for wildlife protection to be integrated into global climate change policy
50 minutes -
Seequent turning old data into the new mining edge
50 minutes -
NPA receives ultra-modern tanker drivers’ rest stop at BOST Kumasi depot
54 minutes -
Toronto police officer dies in raid linked to US consulate shooting
57 minutes -
Black Sherif and how to listen to Ghanaian pop
1 hour -
GOIL proposes GH¢23.5m dividend, profit rises to GH¢90.67 million
1 hour -
African Forest Forum study finds gaps in science journalism and forestry reporting in Africa
1 hour