Banking sector clean up saved investments of our customers – Axis Pensions

Banking sector clean up saved investments of our customers – Axis Pensions
Source: Ghana | Fred Duhoe | JoyBusiness | fkmduhoe.gh@gmail.com
Date: 04-10-2019 Time: 11:10:16:am

The Chief Investment Officer of Axis Pension Trust says the banking sector cleanup has helped save investments of its customers.

Speaking to JoyBusiness at the Axis Pension Trust’s Annual General Meeting (AGM) in Accra, Nana Wiafe Boamah said but for the timely intervention of the Bank of Ghana, they would have lost their clients investments to some of the collapsed banks.

He said, "The intervention from government and the Bank of Ghana was a blessing."

Mr Wiafe Boamah added that Axis Pension Trust "does due diligence and will continue to ensure investors funds are protected at all times."

The Investment Officer stated that from 2012 to 2018, the fund made 16% gains despite the turbulence due to the uncertainty in the financial sector.

The Director in charge of Planning, Research Monitoring and Evaluation at the National Pensions Regulatory Authority (NPRA) Ernest Amartey-Vondee stated that the informal sector which forms about 85 per cent of the working population must be roped into the pension scheme.

He said education must be intensified on pensions and its benefits to every worker in Ghana.