Former Director-General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi, has called on newly appointed Director-General James Klutse Avedzi to prioritise resolving the issue of locked-up investor funds in the capital market.
He revealed that over four billion cedis remain trapped in defunct financial institutions, contributing to low investor confidence.
Speaking to Citi News, Dr. Anane expressed confidence in Avedzi’s ability to tackle the challenge effectively.
“The major issue we have is the locked up funds which has eroded confidence in the market. We have about GHC4 billion I’m told, still locked up in the fund management area. And it still goes back to investors. If it gets back to investors, they are not going to use it on any other issues than to put it back on the market.
“So I believe that his focus should be on how to get back investors this GHC4 billion which is still locked up in the market,” Dr. Adu Anane Antwi suggested.
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