Everything the Commission is doing is geared towards positive impact on the whole economy as well as the people on the streets. If people have confidence in the capital market, the increased activities in the market through the participation of local investors will be to the benefit of the economy. If people, make wealth in the capital market it will impact the economy positively. If you have more companies doing well in the capital market, the unemployment situation we have will reduce.With the kind of awareness, Mrs Ruth Efe, the head, corporate communication of the commission said we are doing with the mutual funds where we expect that a lot of investors will come into the capital market through that space is impactful. There, you will not wait until you have a lot of money to invest in the capital market and then you will also not invest where you don’t understand the products and then you get your hands burnt. If you invest through this channel, at the same time you are investing in those companies in which you want to invest. This e-dividend initiative we are embarking on is also a way of improving the economy. If through this initiative unclaimed dividends are reduced, people will have more money in their pockets through their dividends, this is impactful on the economy. A lot of the awareness we are carrying out right now like Capital Market Studies, as well as the collaboration we are now having with the academia will impact the economy.
“Also we are coming up with other products that will enable the PFAs to invest, especially towards infrastructure.
According to the press statement send to The AmehNews saying eve in a down market people still make profit. There are investors that have made money, that means the market has contributed to the pockets of those investors. The common man that invests, some of them have made gains, some of them that had low stocks and have not sold, that does not mean they are making loss. True the value has reduced, but since they did not also buy very high they have equally gained.
“Also the market one way or the other has assisted the economy even those that are not investors have benefited. There are foreign investors that brought money into this market and that money most of the time is used to shore up our reserve and that affects our forex and the stability of our currency. There are companies whether they are making profit or loss on the stock market, they are still paying taxes and these monies are used by government to construct roads and other infrastructure, so the common man is also benefiting.
“So it’s not only on the equity side, but also on the fixed income side. Government is making money from the capital market to finance infrastructure development. We have collective investment schemes, we have savings bonds and common men are investing in them.