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
-
Ghana’s BRICS move requires clear strategy to manage risks – Godfred Bokpin
15 minutes -
Pay teachers realistic income – Duncan Amoah to gov’t
31 minutes -
Bechem to become chicken capital of Ghana – Mahama projects
33 minutes -
Gov’t targets recruitment of 16,500 health professionals in 2026
54 minutes -
Two-week strike will not derail academic calendar – GNAT President
1 hour -
Headmaster detained after BBC investigation into alleged sexual abuse of students
1 hour -
GNAT pushes for clear implementation procedures of teachers’ conditions of service
2 hours -
Recurrent strikes threaten quality of education and academic calendars – Prof Bokpin
2 hours -
‘Cockroach’ group leaders among hundreds detained in Delhi protest
2 hours -
Don’t let speed of information become your judgement – CJ tells new lawyers
2 hours -
World Cup visa scandal: People have leveraged public office to facilitate fraud – Senyo Hosi
2 hours -
Glut! Farmers count losses as prices crash, customers happy
3 hours -
GSA postpones auction of unserviceable vehicles
3 hours -
Man charged with attempted murder after stabbing
3 hours -
World Cup visa scandal: Senyo Hosi says issue goes beyond calls for Sports Minister’s resignation
3 hours