Audio By Carbonatix
The Securities and Exchange Commission,SEC is stepping up efforts to establish Real Estate Investment Trust by next year. The capital market regulator is currently working with capital market players over the move and fine tuning the rules for the investment instruments.
This forms part of the commission’s 5-year strategic plan for the developing the capital market.
Director General of the commission, Adu Anane-Antwi tells JOY BUSINESS, this is aimed at addressing the funding constraints of the real estate sector by providing the funding for developers as well as prospective home owners.
“The product would help to address the issues of lack capital for real estate sector and bridge the gap between the supply and demand of houses in Ghana” he noted.
The securities law currently allows managers of mutual funds to invest about 10 percent of their net profits in real estate. It however appears the revised Securities Investment Law will remove this restriction.
Mr. Anane-Antwi added that they are also working to introduce new investments products on the capital market in the next few months.
“We are encouraging people to bring in more products once they meet the standard and protect the investor. We ourselves are trying to talk to issuers – a lot of them wanted to come out with new instruments and we are there to help” he added.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Imprisonment should be rehabilitative, not punitive – Ghana Prisons boss at UNGA
18 minutes -
Ga Adangbe traditional priests petition Mahama over McDan aviation licence revocation
29 minutes -
Anti-LGBTQ Bill: NDC’s arrogance is worrying – Hassan Tampuli
39 minutes -
Let’s give OSP time to mature, not to scrap it – Hassan Tampuli
43 minutes -
Nigeria convicts 386 Islamist militants in mass trials
48 minutes -
Djibouti president wins election with 97.8% of vote, state media saysÂ
53 minutes -
We don’t have mandate to deduct tax from rent allowance of security services personnel – Interior Ministry clarifies
1 hour -
Ablakwa receives Presidential Special Envoy on Reparations to advance global agenda
1 hour -
Christina Koch becomes first woman to travel around the moon on Artemis II
2 hours -
Epstein survivors’ calls to meet King Charles and Queen harder to ignore as US visit approaches
2 hours -
UN Secretary-General names Ghana’s Anita Kiki Gbeho as South Sudan envoy
2 hours -
Mali withdraws recognition of Sahrawi Republic, backs Morocco’s autonomy plan
2 hours -
Gov’t distributes over 8,500 laptops to One Million Coders project
2 hours -
Julius Debrah, ‘man to beat’ as NDC’s James Agbey dismisses Musah Dankwah’s polls
2 hours -
GPRTU in Savannah Region to protest alleged eviction in Damongo
2 hours