The Securities and Exchange Commission (SEC) is fast-tracking the development of regulatory guidelines to bring Ghana’s growing forex trading market under formal supervision, in line with global best practices.
The initiative, according to the regulator, seeks to promote transparency, protect investors, and safeguard confidence in Ghana’s financial system. It forms part of a wider agenda to deepen capital markets while curbing fraudulent operations that have targeted retail traders in recent years.
Speaking at an engagement with the Ghana Journalists Association (GJA), Acting Deputy Director-General of the SEC, Mensah Thompson, disclosed that work on the framework is already in motion.
“We are currently developing the guidelines on forex trading and so very soon are going to regulate and license forex traders in this country,” he said.
Thompson further revealed that SEC is introducing a verification short code to enable the public easily confirm licensed investment companies, a move aimed at boosting market discipline.
“The purpose of the short code is for easy verification of licensed operators,” he explained.
The GJA, led by its President Albert Dwumfour, commended the regulator’s reforms and called for closer collaboration between the media and policymakers to drive financial literacy.
“We acknowledge the critical work of the Securities and Exchange Commission; especially, we want to recognize SEC as a crucial pillar of our nation’s economic architecture,” Dwumfour said.
Market analysts believe the new regulatory regime, once finalized, could position forex as a credible asset class in Ghana, attract broader participation, and consolidate investor trust.
