Ghana’s securities regulator has ordered local fund managers to reduce offshore investments, aiming to shield the cedi and restore macroeconomic stability.
The directive comes as Ghana, a leading gold and cocoa producer, emerges cautiously from its deepest economic crisis in decades.
Authorities expect the country to complete a three-year International Monetary Fund support programme by August, marking a fragile turning point.
In a circular issued late Friday, the Securities and Exchange Commission imposed immediate caps on foreign investment exposure by local fund managers.
Under the new rules, managers may invest no more than 20% of assets under management in foreign securities.
Funds previously permitted to invest entirely offshore will now face a tighter ceiling of 70%, the regulator said.
The commission added that foreign investments are restricted to countries that share regulatory information with Ghana’s market watchdog.
