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The Managing Director of Stanbic Bank, Ghana, Mr Alhassan Andani, has challenged the Securities and Exchange Commission (SEC) and the Ghana Stock Exchange (GSE) to focus their attention on attracting onto the local bourse, companies and institutions that are cash-strapped but have great potential to grow. �Afterall, the stock exchange is a market where companies go to look for long-term capital and therefore, it will be prudent for the financially distressed companies such as the Volta River Authority, Ghana Water Company and the Electricity Company of Ghana among many others in the private sector of the economy go there to raise funds�, he said. In what might probably spark a long debate, Mr Andani threw the challenge in response to a question raised by the GRAPHIC BUSINESS during a news conference in Accra under the instance of the bank. The Director-General of SEC, Mr Adu Anane Antwi, had in an earlier interview with the GRAPHIC BUSINESS, stressed the need for multinationals operating in the country to be compelled to list on the local bourse as part of their Corporate Social Responsibility (CSR) activities in the country. He had argued that �The best CSR activity these multinationals can do for the country and its people is for them to offload some of their stake to the people through the stock market and not necessarily building a few schools for the villages in which they operate among others things�. The GSE boss, Mr Kofi Yamoah has also mentioned at several fora that there was the need for a law to mandate the multinationals to list part of their companies on the local bourse to provide an opportunity for the people to own a part of the companies and also help increase the activity on the stock market. There are also those who have argued that once the multinationals find Ghana an attractive destination to invest, there is the need for them to float some shares on the exchange for the people to buy and become part owners. But Mr Andani said much as the call was a laudable one, it should be more focused on capital starved companies rather those that are already financially sound. Mr Andani did not disagree with the SEC boss but noted again that where it becomes a law for multinationals to list on the exchange; �Stanbic Bank will have no option than to comply�. He drew a scenario saying �If Tullow Plc or Stanbic wants to raise a billion dollars, they can get a billion dollars; but if the ECG, VRA of GWSC want to raise a billion dollars, can they get it? The answer is no and that is the more reason why they should be attracted to list on the exchange to enable them stop over-relying on the government for capital�. Regarding the fact that listing could be a form of CSR by the listed multinational companies, Mr Andani also noted that, knowing how profitable the multinationals were, any attempt to list would attract corporate institutions and the rich in society with a very minute portion going to a handful of the public and, therefore, that cannot be a CSR. He said the bank has been able to assist Small Scale Enterprises (SMEs) with funds to turn around their businesses and also assisted many corporate institutions to undertake many projects, both of which go a long way to help society. He said the bank had also assisted the government to fund major projects in the country that impact lives and noted that those were the kind of investments that have greater impact on the people than resorting to the exchange to benefit only the privileged few. Mr Andani said the role played by the bank is a clear testimony of its resolve to be in the country for the long haul and to do for the people what is best required from a bank with the financial clout to undertake any business in the country. The SEC last Monday launched this year�s Capital Market�s Week to help deepen the knowledge of the public on how they can create wealth using the market. It is also to further educate the companies and the government on how to raise capital from the market for projects. The celebration is on the theme; �The Capital Market: A key to economic growth and development�. Addressing a news conference in Accra SEC Director-General said the celebration would start with a health walk on Saturday, May 4, which is aimed at promoting healthy lifestyles amongst capital market operators and regulators. He said at the same time, there would be a number of radio outreach programmes undertaken throughout the week to educate the general public on investment and capital market issues. Mr Anane-Antwi said also to be organised would be a Child Finance Day, a day dedicated to educating children in Upper Primary to Senior High School on the importance of investing early, adding that �although tagged as part of the activities of the capital market week, it will be held on May 31, 2013 due to the absence of pupils/students from school as they will be on holidays during the scheduled week�. He said there would be a workshop on May 8 for the Association of Ghana Industries (AGI), which would be used to educate the members of the association about the need to use the capital markets to raise funds to run their businesses. �What we keep reiterating is that it is better to use long-term funds for long-term projects than to use short-term funds for long-term projects because that was happening and businesses found themselves in financial difficulties,� he said. He said there would be two conference days, one each on Thursday, May 9 and Friday, May 10 respectively followed by a dinner night to wrap it up. Among the topics to be discussed include: The Capital Market and Economic Growth and Development of Ghana; The role of SEC in the development of the capital market; The role of banking sector in the development of the capital market; Funds mobilisation to bridge the infrastructure gap in Ghana - The role of the capital market, among many others.