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53% of Ghanaians now prefer investing in T-Bills following financial sector clean-up

4 years ago
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Majority of Ghanaians (53 percent) now prefer investing in government securities like Treasury Bills following the financial sector clean-up exercise undertaken by government.

This is according to a short survey undertaken by senior lecturer at the University of Ghana Business School (UGBS), Dr Elikplimi Agbloyor.

Speaking at a webinar organised by Tesah Capital and Joy FM on the topic; Investing After the Financial Sector Clean-up, Dr Elikplimi noted that despite having confidence in the financial sector, most local investors had not invested with any FMC or Asset Management company after the sector celan-up exercise.

The increase in the appetite for government securities by Ghanaians is due to the believe that funds invested with government is much safer and highly unlikely to be lost as was in the case of the clean-up exercise which saw depositors’ funds locked up with Fund Management Companies (FMCs) in the country.

Aside the 53 percent of respondents that wanted to invest in T-Bills, some 17.5 percent of the respondents according to Dr Elikplimi would like to invest in treasury bonds.

Twenty-three percent (23%) of the respondents interviewed however, wanted to still invest with FMCs or Asset Management Companies in the country.

A smaller number of the respondents asserted they will invest in cryptocurrency, land and house acquisition, and shares purchase.

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Deliberating on his presentation in the webinar, Dr Elikplimi opined that, FMCs in the country need to rebuild trust with local investors “since trust in their operations by the public has been lost.”

He further stated that FMCs should invest funds in the interest of their clients and provide the necessary information to investors when requested for, adding that FMCs going forward should operate by high ethical standards.

The financial sector clean-up exercise undertaken by government saw the collapse of 53 FMCs in the country.

Source: norvanreports
Tags: Dr Elikplimi Agbloyorgovernment securitiesTreasury billsUniversity of Ghana Business School (UGBS)
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