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
-
Accra turns white as Dîner en Blanc delivers night of elegance and culture
42 minutes -
War-torn Myanmar voting in widely criticised ‘sham’ election
2 hours -
Justice by guesswork is dangerous – Constitution Review Chair calls for data-driven court reforms
3 hours -
Justice delayed is justice denied, the system is failing litigants – Constitution Review Chair
3 hours -
Reform without data is a gamble – Constitution Review Chair warns against rushing Supreme Court changes
3 hours -
Rich and voiceless: How Putin has kept Russia’s billionaires on side in the war against Ukraine
4 hours -
Cruise ship hits reef on first trip since leaving passenger on island
4 hours -
UK restricts DR Congo visas over migrant return policy
4 hours -
Attack on Kyiv shows ‘Russia doesn’t want peace’, Zelensky says
4 hours -
Two dead in 50-vehicle pile up on Japan highway
5 hours -
Fearing deportation, Hondurans in the US send more cash home than ever before
5 hours -
New York blanketed in snow, sparking travel chaos
5 hours -
Creative Canvas 2025: Documenting Ghana’s creative year beyond the noise
8 hours -
We would have lost that game last season – Guardiola
9 hours -
Nigeria reach AFCON last 16 despite Tunisia fightback
9 hours
