PRINPAG-ECOBANK SENSITIZES MEDIA ON FINANCIAL MARKETS

As part of efforts to ensure the media is well-informed and educated about the financial markets,a sensitization seminar to adequately enlighten journalists has been held at the coconut Groove Regency hotel in Accra,Thursday 12 March 2015.

The seminar which was organized by the Private Newspaper Publishers Association of Ghana (PRINPAG) in collaboration with Ecobank transnational INC brought together stakeholders in the financial sector and representatives from various media institutions,was under the theme " sensitizing the media on the role of the money and capital markets.

Financial markets are the bedrock of growth of any economy across the globe,for which reason investors and individuals must be abreast of the types of money market instruments,market participants as well the roles financial institutions play in achieving economic growth.
In this light,stakeholders in the financial sector have taken journalists through components of the sector to better equip them with knowledge to aid their work.

Head of Corporate communications at ECOBANK,Patricia Sappor,noted that benefits of the financial markets are far-reaching - among them is to facilitate the transfer of real economic resources from lenders to ultimate borrowers.

She added that they also promote savings and investments as well as enhance income and capital generation,culminating in the economic and financial stability of the country.
Economies across the world,she added,thrive on these markets,hence an urgent need for citizens and institutions to be well-informed,so as they play their roles in order to achieve growth.

She was hopeful the seminar will aid journalists in the private sector to report appropriately on the activities of the financial markets,for easy dissemination to the rest of the Ghanaian populace.
She further mentioned that,a key mission of her outfit - which is to contribute to the development of Africa motivated their partnership on the project,adding it would go a long way to contributing to the continuous fight to develop the continent.

On her part,president of the private newspaper publishers association - Gina Blay commended ECOBANK for the laudable gesture of sponsoring the seminar,which she describes as timely and apt for the economic well-being of the country.

She underscored the relevance of the media's contribution to the financial sector in Ghana,adding the growth in the sector depends largely on how well the media reports issues relating to it.
"As media people our vital role is to acquire knowledge and share this knowledge to our audience.A well developed money market is essential to the economic development of Ghana ," she said.
A representative from the treasury department of the bank,John Nyaanba,enlightened journalists about the roles of financial institutions in the money market.

He said the role of intermediation,underwriting of issue,price discovery,insurance of risks are only a few roles these institutions including EcOBANK play in the market.
While creating a platform for providers and users of excess funds to meet,these institutions also take up all or part of the issue should it not be fully subscribed.

According to John Nyaaba,insurance companies,Investment houses,Retail investors,the regulator and
the depositary are some of the participants in the financial markets,whose roles are invaluable in achieving growth.

Participants at the seminar were charged to take keen interest in issues relating to the financial sector,so as to constructively report on them,thereby contributing to the growth of the sector.