SEC to Introduce Regulatory Framework for Forex Trading in Ghana
The Securities and Exchange Commission (SEC) has announced plans to introduce regulatory guidelines for foreign exchange (forex) trading in Ghana, as part of measures to safeguard investors and strengthen financial system confidence.
The Commission said the move, which aligns with international best practices, forms part of broader efforts to protect economic stability, improve transparency, and deepen Ghana’s financial markets. Globally, forex trading accounts for an estimated US$6.6 trillion in daily transactions.
Speaking at an engagement with the Ghana Journalists Association (GJA), Mensah Thompson, Acting Deputy Director-General of SEC, disclosed that the regulatory framework is already in development.
“We are currently developing the guidelines on forex trading and so very soon we are going to regulate and license forex traders in this country,” Mr Thompson said.
He added that the Commission is streamlining the process of verifying licensed investment companies, including the introduction of a short code system that will enable the public to easily confirm the status of genuine operators and avoid fraudulent schemes.
“The purpose of the short code is for easy verification of licensed operators,” he explained.
GJA President, Albert Dwumfour, commended SEC’s initiative and underscored the importance of collaboration between the media and regulators in promoting financial awareness and protecting investors.
“We acknowledge the critical work of the Securities and Exchange Commission, and we want to recognize SEC as a crucial pillar of our nation’s economic architecture,” Mr Dwumfour said.
The rollout of the forex regulatory framework is expected to enhance investor confidence, encourage broader participation in forex as an asset class, and reduce risks associated with unlicensed operators who have previously exploited retail traders.
