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Ghana’s securities regulator has tightened offshore investment rules to defend the cedi and reinforce macroeconomic stability.

Ghana’s Securities and Exchange Commission (SEC) has ordered local fund managers to significantly reduce offshore investments as part of efforts to protect the cedi and strengthen economic stability.

In a circular issued on Friday, the SEC said that, with immediate effect, fund managers may invest a maximum of 20% of assets under management in foreign securities. Funds that previously had approval to invest fully offshore are now capped at 70%.

The directive comes as Ghana emerges from its worst economic crisis in decades and approaches the completion of a three-year International Monetary Fund (IMF) support programme expected to end in August.

According to the regulator, offshore investments will now only be permitted in jurisdictions that have information-sharing arrangements with Ghana’s SEC, tightening oversight and reducing capital flight risks.

The move reflects growing regulatory focus on currency stability, capital retention, and financial system resilience as Ghana works to consolidate recent macroeconomic gains driven by fiscal tightening, debt restructuring, and improved foreign exchange conditions.