SEC to investors: Do not engage in panic withdrawals
The Securities and Exchange Commission (SEC) has called on investors to maintain their confidence in the Ghanaian economy, adding that they must not engage in panic withdrawals despite the country’s current economic challenges.
The assurance comes amid fears that principal and interest on investment could be affected if Ghana secures a deal with the International Monetary Fund (IMF).
Appearing on the Asaase Breakfast Show on Thursday (10 November 2022), Anthony Degbato, a senior manager in the funds management department of the SEC, stressed that there will be no haircut on investments.
Keep calm and carry on
A haircut is a lower-than-market value placed on an asset when it is being used as collateral for a loan.
“This is the time to actually invest, so we would encourage people to stay invested, rather than panic,” Degbato said. “There is no panic situation at hand.
“So, let investors still stay invested if they don’t wish to add up to their investment. They should stay invested. All these [fluctuations in the value of funds] will be corrected.
“The haircut discussion has been dealt with by the president categorically, and if such a thing will crop up, I am sure that the public will be made aware,” Degbato said.
