Director General of the Securities and Exchange Commission (SEC), Rev. Daniel Ogbarmey Tetteh, has said Ghana is ripe to receive inflows in the form of Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) from investors.
Making the assertion at the signing of a Memorandum of Understanding between the Ghana Investment Promotion Centre (GIPC) and the Ghana Stock Exchange (GSE) to facilitate a deeper collaboration between the two institutions, Rev. Ogbarmey Tetteh, averred high inflows of both FDIs and FPIs are critical to the growth of the Ghanaian economy.
“The synergistic opportunities between Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) cannot be overemphasised. FDI Inflows assist in the value creation, required to generate attractive portfolio investment opportunities. FDI, on the other hand, helps to deepen the capital market, improve liquidity, and provide more scope for investment and capital raising.
“Ghana is very ripe for both FDIs and FPIs given the compelling opportunities existing today and therefore it is time, more than ever, for an even stronger collaborative effort between the GSE and the GIPC to garner higher FDI and FPI inflows into the country,” he quipped.
The GIPC and the GSE have signed a Memorandum of Understanding to facilitate a deeper collaboration between the two institutions.
The MoU was signed on behalf of the two institutions by Yofi Grant, Chief Executive Officer of GIPC and Ekow Afedzie, Managing Director of GSE, at the Centre’s head office in Accra.
The MOU establishes a practical framework for developing greater cooperation between the GIPC and the GSE.
As a result, the GIPC and the GSE, which have the same goal of attracting and advancing investments in Ghana, will pursue more innovative and proactive approaches to attracting and retaining both Portfolio and Foreign Direct Investment.
“The GIPC and the GSE have long been partners,” said Yofi Grant, CEO of the GIPC, at the signing.
“The signing of the MoU today represents an important milestone under which we will jointly explore ways to work together to attract greater investment into the country and advance our visibility and connectivity with international markets”, he added.
Both parties have been looking forward to this partnership to accelerate the collaboration needed to attract more investments into Ghana and to use the GSE platform to raise patient capital to catalyze the much-needed growth of several industries for the development of the Ghanaian economy.
According to Ekow Afedzie, the partnership will go a long way toward supporting the exchange’s activities.
He said “the GSE strategic plan aligns with the national strategy of making Ghana the financial hub and the preferred investment destination in the sub-region and I believe that this historic MoU will help leverage each other’s strength and networks to grow investment and support national economic development.’’
Both parties pledged their commitment to the flawless execution of the MoU to ensure the full optimization of investment and capital mobilisation opportunities from the collaboration to support the growth of the Ghanaian economy.
Source: norvanreports