B&FT’s The Money Summit 2024 served as a platform for open dialogue, knowledge-sharing and collective strategising; paving the way for a comprehensive approach to addressing the nation’s investment and savings challenges.
The discussions concluded with a resounding call for collaboration among stakeholders – including market participants, regulators and the government – as a crucial step toward fostering a robust savings and investment culture.
Although the summit also acknowledged the transformative power of digitalisation, experts urged vigilance against cyber threats as well as the prioritisation of cyber-security measures to safeguard financial transactions.
Addressing the gathering, Atta Yeboah Gyan, Deputy Managing Director of Fidelity Bank, urged a paradigm shift in investment strategies by rethinking the way capital is allocated.
Mr. Gyan reiterated the need to move away from traditional asset classes and explore emerging opportunities that align with values and beliefs, such as environmental sustainability or social impact.
Amid challenges posed by the global pandemic, domestic debt restructuring and evolving financial landscapes, the summit emphasised the urgency of embracing ethical standards, professionalism and responsible investing practices.
Policy-makers and experts convened urged an imperative shift in the nation’s investment and savings culture. Dr. Godwin Acquaye, Chief Executive Officer of the B&FT, observed that by promoting financial literacy and implementing policies that incentivise saving and investment, we can unlock the true potential of our people and harness the power of their collective wealth for economic growth and development.
For his part, Allen Quaye, Head of Retail Banking at FBN Bank, highlighted the role of innovation and customer-centric solutions in driving savings.
Director of FX Sales at Regulus Finance & Investments, Ankit Tandon, said the DDEP has created a lot of anxiety and uncertainty in the minds of investors; and that has resulted in drop in flow of funds in the economy.
“Savings and investments are the backdrop of any economy looking for sustainable growth. They help with capital accumulation; capital accumulation in the hands of banks and other financial institutions who lend the same capital to other individuals and institutions to create assets,” Mr. Tandon said, further emphasising the pivotal role of savings and investments in driving economic growth.
