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Journalists have been urged to help promote and police the performance of financial markets in the country.

Dr Bernard Otabil, the Chief Executive Officer of the Ghana News Agency, said whether one was looking at the capital or money market, journalists have an important role to play.

He pointed out that efficient market hypothesis, that seeks to provide the sanctity and perhaps that trust for financial markets, had at the centre; news gatherers and information dissemination agents like journalists.

He said markets are expected to be efficient, that is, they must reflect all available information and in some cases anticipated information.

“Information is therefore, key to the efficient functioning of financial markets,” Dr Otabil stated on Wednesday, in Accra, at the Private Newspaper Publishers Association of Ghana (PRINPAG) – Ecobank media seminar on the theme: “Sensitizing the Media on the Role of Money and Capital Market(s)”.

He said the world was changing fast, and finance, which was very pervasive in everyday lives should be given serious attention.

He said: “It is for the importance of finance that today you find a lot of politicians feeling the need to explain money matters to the public.”

Dr Otabil said fear breeds insecurity and insecure people try to make themselves secure; explaining that “this is why money was invented, and then bills, cheques, insurance, pensions and now derivatives”.

He said the seminar would equip participants with the right skills to be able to contribute to a vibrant financial market in the country.

He urged journalist to use their media platforms to protect the people, economy and the country at large.

Mrs Patricia Sappor, Ecobank Ghana, Head of Corporate Communications, said the financial markets were the bedrock of growth of any economy; as among other benefits, they facilitate the transfer of real economic resources from lenders to ultimate borrowers.

“The financial markets also promote savings and investments, and also enhances income and capital generation, culminating in the economic and financial stability of a nation such as Ghana,” she stated. 

“Economics indeed, thrives on the financial markets, and this is why as part of our corporate social responsibility we are committed to supporting the media to have an in-depth understanding of aspects of the financial market in Ghana.”

Mr John Nyaaba of the Treasury Department of Ecobank Ghana said out of the about 27 banks in Ghana, only 14 of them were primary dealers in treasury bills with the Bank of Ghana; including Ecobank.

He said treasury bills investments would not be patronized by people who were not resident in the country.

Mr Ekow Afedzi, the General Manager of the Ghana Stock Exchange urged journalists to enrich their financial reportage by seeking further explanation from gurus in the finance industry.

Mrs Gina Blay, the Chief Executive Officer of the Daily Guide Group of Newspapers, who doubles as the PRINPAG President, said the media plays a vital role in the development of every nation.