SEC to Introduce Forex Trading Guidelines in Ghana to Boost Investor Confidence

The Securities and Exchange Commission (SEC) has announced plans to roll out new regulatory guidelines for forex trading in Ghana, a sector that contributes to the estimated $6.6 trillion traded globally each day. The initiative aims to enhance transparency, protect investors, and reinforce confidence in the country’s financial system.

Speaking at an engagement with the Ghana Journalists Association, Acting Deputy Director-General of the SEC, Mensah Thompson, disclosed that work on the framework is already underway. He revealed that the Commission will soon regulate and license forex traders in Ghana to align with international best practices and safeguard economic stability.

In addition to regulating forex trading, the SEC is streamlining its verification process for licensed investment companies. Mr. Thompson explained that the Commission will introduce a short code that enables the public to easily confirm the authenticity of financial operators, helping to curb fraudulent schemes targeting unsuspecting investors.

The President of the Ghana Journalists Association, Albert Dwumfour, commended the SEC’s reforms and stressed the importance of collaboration between regulators and the media in raising financial literacy. He noted that strengthening awareness will protect the investing public and reinforce the SEC’s role as a crucial pillar in Ghana’s economic development.

Analysts believe the new regulatory framework, once implemented, could attract more investors to Ghana’s forex market, expand participation, and significantly reduce risks from unlicensed operators. The guidelines are expected to not only boost investor confidence but also contribute to the long-term stability of Ghana’s financial markets.

Source: Citi newsroom