The Securities and Exchange Commission (SEC) in Ghana has assured potential investors to remain confident following the outfit’s upgraded measures including embarking on education campaigns to enable investors to make informed decisions.
The assertion follows concerns raised by some citizens who fear losing their investments due to the activities of Ponzi Schemes that have marred the financial sector over the years.
Speaking on the sidelines of a three-day Financial Literacy workshop for journalists organised by the Financial Sector Division of the Ministry of Finance at Winneba in the Central Region, Dr Godwin Ansah, the Head of Communications and External Affairs of the SEC explained that, the commission’s enhanced tools which include, licensing, approvals, and supervision among others will play a huge role to prevent foul strategies deployed by miscreants to fraud innocent citizens.
“To make the public aware of some of the tools that we use to enhance their protection against Ponzi schemes. So first and foremost we believe that the investors need to be educated and well informed in order to make well-informed investment decisions.
“Secondly, we looked at some of the tools which include licensing which we believe is a gateway by which investors get into the market so we’ve instituted a lit of measures to make sure that investors who come into the market are deemed fit and proper to operate within the industry.
Dr Ansah also highlighted the SEC’s effort to restore the confidence of victims of Ponzi schemes through consistent education in various regions while hinting at a new framework that would deal diligently with the risks involved in investment.
“In terms of what the SEC is doing to build confidence in the market, we continue to roll out our public education programs. We have been to Tarkoradi and Tamale.
“We’ve done programs in Accra as well. We plan to make sure this continues. We also have a robust education program coming up later in the year.
“Again the SEC’s role on the financial stability council is also another measure to ensure that there are no loopholes which miscreants can take advantage of.
“We are also migrating to a new base framework which will help the SEC proactively identify and deal with risk issues that may potentially affect investors.”