New minimum capital requirement for operators in Ghana’s capital market industry has been issued by the Securities and Exchange Commission (SEC) in accordance with Section 209 of the Securities Industry Act 2016, (Act 929).
Fund Management Companies per the new directive are to have a minimum capital requirement of Ghs 2 million.
The increment in capital requirement of capital market operators in the country was disclosed by the Director General of SEC, Reverend Daniel Ogbarmey Tetteh at the Annual General Meeting (AGM) of the Ghana Securities Industry Association (GSIA) in Accra.
The new capital requirement SEC argues, will enhance its mandate of regulating and promoting the growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
Existing operators as well as new entrants are therefore expected to shore up their capital to meet the new minimum capital requirement by end-2021 or face a revocation of their license.
Find below the new minimum capital requirements for capital market operators:
