The outgoing Chief Executive Officer (CEO) of Bills Credit, Richard Nii-Armah Quaye, has urged wealthy Ghanaians to refrain from spending their money abroad and instead consider investing in businesses within Ghana.

He said, "For those of us who have it (money), let us not take our wealth out of the country or leave it sitting in the bank. Instead, let us invest in the businesses and skills of those who do not have it. Let us form investment groups and invest together to minimise our risks and maximise our chances of success."

Richard Nii-Armah made these remarks during a ceremony in Accra on Monday, 28th April, where he announced his retirement from his role as CEO of Bills Credit. He revealed that he had taken on a new position as the CEO of RNAQ Holdings.

He stated that with this approach, investors in the country would gain confidence in the Ghanaian economy and be able to explore the many advantages the country offers.

He added that this is the same path taken by developed countries, and it has proven successful for them.

The business mogul also called on individuals with entrepreneurial skills to approach him for the necessary support.

"I am also calling on all young people in our country with unique skills and promising businesses that require funding and proper guidance to come forward so that we can invest together, build together, and succeed together. This is the only way we can build businesses capable of competing, surviving, and thriving both nationally and globally," he said.

Mr Nii-Armah has since handed over the leadership of Bills Credit to private legal practitioner, Lawyer Kojo Dei Kwarteng.

In his acceptance speech, Mr Kwarteng thanked Mr Nii-Armah and the entire management team for considering him for the role.

He also expressed his gratitude to the Bank of Ghana (BoG), the regulator of credit firms, for approving his appointment and promised to adhere to the various rules and regulations governing the operation of credit businesses in the country.