Audio By Carbonatix
Pension trustees and other stakeholders in the pension fund management schemes have called on the National Pensions Regulatory Authority (NPRA) to allow for investment across the shores of Ghana which they consider as a safe and secure haven.
Speaking to JoyBusiness at the second edition of the Pensions Strategy Conference in Accra, the Chief Investment Officer of Axis Pensions Trust, Nana Wiafe Boamah said, "no one should think government securities and equities are too safe for investors".
According to Mr Wiafe Boamah a floor rate of 5% investment by all fund managers will yield great dividends.
He said, "As at 2018, the private pensions industry alone had over GHC13 billion assets surpassing the state-sponsored SSNIT scheme".
He added that "the rising public debt and the depreciating cedi have generated concerns amongst investors in Ghana. The responsibility, therefore, falls on Trustees to ensure prudent management of pension scheme they oversee".
Addressing the concerns raised, the Director in charge of Planning, Research, Monitoring and Evaluation at the NPRA Ernest Armatey-Vondee said his outfit has received petitions in that regard, but holds the view that any attempt to grant investment of pension funds offshore may spell doom for the Ghanaian economy taking into account the role these funds play in creating jobs and sustaining the gains of the local economy.
"Allowing the investment of pension funds outside this country means creating jobs for others. What about creating jobs for Ghanaians?" he quizzed.
An economist with Databank, Courage Martey, who took his turn to project the outlook of Ghana's economy was optimistic the future looks brighter if the Central Bank maintains the policy directives being pursued in the FX markets after the rigorous financial sector clean-up.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Padel for Parkinson’s cycling event promotes awareness at University of Ghana
47 seconds -
GPL 2025/26:Samuel Tetteh brace fires Nations FC past Basake Holy Stars
9 minutes -
Ghana’s oil trade position close to net neutral in near term – Fitch
31 minutes -
IMANI Africa President urges greater awareness and support for Parkinson’s Disease patients
42 minutes -
T-bills: Government records 29% undersubscription; interest rates continue to surge
44 minutes -
Perceptions of Judicial partisanship ‘unfortunate’ – Justice Adjei-Frimpong urges greater public engagement to build trust
47 minutes -
Ghana to honour Christina Hammock Koch for historic Artemis II mission
2 hours -
Supreme Court appointments require more than 15 years’ experience – Justice Adjei-Frimpong
2 hours -
Fire destroys 3-bedroom house at Bogyawe
2 hours -
Why the Supreme Court is a “policy court” – Justice Richard Adjei-Frimpong breaks it down
2 hours -
Playback: The Law discussed Supreme Court @150
4 hours -
MTN Momo staff walk to promote wellness and fitness
4 hours -
Assafuah: Sedina Attionu’s return from Nevada will test government’s commitment to accountability
4 hours -
How GRA’s Modified Taxation Scheme is boosting revenue compliance & SMEs competitiveness
4 hours -
Stonebwoy Can Do It: A call to unite behind 2026 BHIM Fest
5 hours