Securities and Exchange Commission intensifies efforts to reform Ghana’s capital market – Deputy Director-General
Mr Mensah Thompson
The Securities and Exchange Commission (SEC) Ghana has intensified efforts to reform the country’s capital market following the impact of the Domestic Debt Exchange Programme.
SEC is aiming to diversify investment opportunities and channel more funds into the private sector.
Speaking on TV3’s Business focus on March 23, 2026, the Deputy Director-General of the Securities and Exchange Commission Ghana, Mensah Thompson, says the Commission is pursuing wide-ranging reforms to make the market more attractive to investors while improving liquidity flows across the economy.
According to the Deputy Director-General, “internal efforts are focused on creating new opportunities for retail investors, fund managers, and institutional trustees, while strengthening mechanisms that allow capital to flow more efficiently to businesses and government-backed projects, including flagship”
He further added that, Ghana’s capital market is undergoing significant transformation, driven largely by lessons from recent economic shocks.
The Deputy Director-General of the Securities and Exchange Commission Ghana explained that ,”The Domestic Debt Exchange Programme, placed severe strain on the fixed income segment and exposed structural weaknesses in a system heavily reliant on government securities.”
“The market was tested to its limits, especially on the fixed income side. But it also taught us a painful yet important lesson we cannot continue to build a market that depends largely on government instruments,” Thompson said.
Mensah Thompson also pointed out that, ”Previously, investors particularly pension trustees, showed limited interest in alternative instruments such as Real Estate Investment Trusts (REITs), Exchange-Traded Funds (ETFs), and Collective Investment Schemes (CIS). However, that trend is now changing”
“Investors with liquidity are beginning to explore alternatives beyond government securities. Fund managers are seeing increased openness among trustees to diversify portfolios,” he added.
The Commission is leveraging this shift to accelerate reforms, including a comprehensive review of the Securities Industry Act to introduce a broader range of financial instruments and deepen market development.
The Deputy Director-General added that, “new regulatory guidelines are being developed in areas such as securities lending and borrowing, warehouse receipts, and forestry-linked investments, all aimed at expanding viable investment options and enhancing market resilience.”
Thompson further emphasized that, these reforms are critical to ensuring that Ghana’s capital market evolves into a more dynamic and diversified ecosystem capable of supporting long-term economic growth.
Source: 3new.com by Coffie Mawuedem Noel
