Efforts to promote financial inclusion and provide opportunities for the public to invest have received a boost with the launch of the CediManager.
CediManager is an investment application that enables individuals and investors to purchase government securities at their convenience on their phones, laptops and tablets.
It is an initiative of Fincap Securities Limited, an investment and banking and securities trading firm licensed by the Securities and Exchange Commission (SEC).
Speaking at the launch at the Ghana Stock Exchange in Accra on Tuesday, the Chief Executive Officer of Fincap Securities Limited, Geoffrey Fathers Maison, said the idea for the application started six years ago.
He said the application was to encourage, support and provide opportunity for investors to invest at the comfort of their homes and offices.
Mr Maison stated that studies conducted by his outfit indicated that most of the investment firms were located in Greater Accra Region, and some of the regions did not have any investment firm.
“Adults in these disconnected areas must travel to physical locations miles away from their residences to invest. The tedious process of investing has also been a deterrent to the public – the long queue at the offices of investment firms, the long-read documents requiring that you read before you sign and the complex explanations from the customer representatives,” he said.
He said potential investors held on to their funds while the market stayS begging, with great investment opportunities remaining untapped, adding that the capital market had significant role to play in promoting financial inclusion with its low-risk securities.
“With an opportunity to leverage modern technology, we decided to bridge the gap between excess public funds and the capital market, where there was a growing but low patronage of investments. We wanted to create something that would not only give access to investment opportunities but also rightly suit the needs of our users, who were at the centre of all our efforts,” Mr Maison said.
He said investors did not have to go all the way to financial service providers, and read countless pages filled with jargons.
“CediManager brings the market to you in the comfort of your home, office, or on the go. Our user-friendly application grants access to whoever has a smart device, access to the internet and funds to invest in treasury, cocoa bills, the government of Ghana bonds and notes,” Mr Maison said.
The CEO of Fincap said the structured dashboard made it easy to monitor one’s investment in real time, adding that the “CediManager takes safe and convenient investment opportunities to the doorstep of our users.”
The Deputy Managing Director of the Ghana Stock Exchange (GSE), MsAbenaAmoah, described the CediManager as a novel tool for investment.
She said the launch of the CediManager was in line with the goal of GSE to make it the preferred platform for investment in the country and in the Sub-region.
Ms Amoah entreated other Licensed Dealing Members of the GSE to emulate the example of Fincap and those which had already developed one to improve their system.
The Deputy Managing Director entreated businesses to use the Accra bourse to raise capital to finance their business operations.
BY KINGSLEY ASARE