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
-
Netflix to buy Warner Bros film and streaming businesses for $72bn
27 seconds -
Death toll from devastating Indonesia floods passes 900
59 minutes -
Obuasi Bitters CEO rebuilds Pomposo school block
1 hour -
Family Health University graduates 318 healthcare professionals
1 hour -
Legendary Yaw Sarpong’s backing vocalist Maame Tiwaa passes on
2 hours -
Two suspects arrested in coordinated robbery attacks at Nkasiem
2 hours -
Tiwaa of Yaw Sarpong and Asomafo dies
2 hours -
Amedzofe Canopy Walkway temporarily closed after structural incident
2 hours -
Dr Ibn Chambas calls for Africans to ‘defend their dignity’
2 hours -
Let’s treat persons with disabilities right – GHS staff  urged
3 hours -
Soldiers in Benin say they have seized power from President Talon
3 hours -
Lionel Messi leads Inter Miami to MLS Cup glory
3 hours -
Soldiers on Benin’s national television claim to have seized power
4 hours -
Premier Tennis Club organizes Tema Farmers’ Day Tournament
4 hours -
Liberia, South Africa ex-First Ladies attend Lordina Foundation’s 5th health screening for retired ministers
4 hours
