President for the Institute of Chartered Accountants, Ghana (ICAG), Sena Dake, has said the country remains an attractive investment destination in spite of the COVID-19 induced economic crisis.
The country’s relative peace and political stability, she explains, are among the two most important factors that continue to make it a top destination for investments in the region – and said the ongoing challenges are temporary.
“Despite our economic highs and lows, COVID-19 pandemic and other challenges we have faced as a country, we have stood strong and peaceful. Ghana remains the most peaceful country one can find. We are still a very attractive place in which to invest and do business. Our political environment is stable, and the difficulties of our nation’s current economic conditions shall surely pass,” she said.
Ms. Dake spoke at the 60th anniversary launch of the Institute, and reiterated that the country is still coveted by investors because of its history of sustained peace, strong democratic credentials and skilled workforce.
She however noted that more should be done to promote inclusive growth and development, especially as the country recovers from this present crisis
Commenting on the anniversary theme, ‘Promoting sustainability, deepening trust, nurturing partnerships’, she said partnership is linked to prosperity, potential opportunities, mutual respect, steady engagement and peace.
“Sustainability for us is an approach to creating long-term value by taking into consideration how we can effectively operate in the ecological, social and economic environments. We are generally looking at the effect accountancy has on governance systems, environment and society; as well as the risks and controls. Our goal of a sustainable strategy is to make a positive impact on these areas,” Ms. Dake said.
To achieve this, she said, it will require attention to terrorism financing, anti-money laundering, cost analysis of environmental, health and safety decisions; reporting financial commitments toward reducing environmental degradation; cutting greenhouse gas emissions, valuation of efforts toward climate change and supporting government in renewable energy financing.
Ms. Dake added that: “Sustainability demands that we consider a wide array of environmental, economic and social factors when making decisions in order to ensure that short-term gains don’t turn into long-term liabilities”.
The 60th anniversary of ICAG brings a year-long programme with many activities.
