- The Security and Exchange Commission (SEC) is in the process of establishing a crowdfunding system in Ghana
- Challenges resulting from the outbreak of the coronavirus has pushed the start of operations to the year 2021
- When complete, the system will make funds available to MSMEs in Ghana
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The Security and Exchange Commission (SEC) of Ghana has hinted about plans for introducing crowdfunding in Ghana.
YEN.com.gh understands that it is possible the regulator of Ghana’s capital market would establish a framework for the start of the programme.
Information available shows that despite setbacks present due to the outbreak of the coronavirus, everything could be ready by 2021.
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Per a report by thebftonline.com, the plan is to make the package attractive to micro, small, and medium-sized enterprises (MSMEs) in the country.
SEC explained that its fund would serve as a pool of resources from which entrepreneurs can easily finance their operations.
It added that mechanisms are being implemented to ensure investors are not defrauded by entrepreneurs.
In other news, the World Bank has announced a $250 million package to support the Ghana Development Finance Project.
Financial intermediaries in the country, such as Micro, Small, and Medium Enterprises, are expected to benefit from the package.
The World Bank revealed that it is collaborating with the Ministry of Finance and the Bank of Ghana to implement the project.
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