By Emmanuel AKOMEA
Executive Director of Bora Capital Advisors, William Mensah, has emphasized the need for long-term fiscal consolidation and local investment as critical strategies to enhance economic stability.
The Executive Director maintains that addressing fundamental fiscal issues is essential for sustainable growth and prosperity while ensuring stable returns for contributors.
“If we do not focus on fiscal stability, we will just move from one crisis to the next,” he said.
Speaking at Bora Capital Advisors’s 10th anniversary Dinner and Awards, he explained that short-term fixes and temporary relief measures are not enough to address the fundamental issues. He added that the focus should be on long-term fiscal stability, addressing revenue and expenditure challenges to create a more productive real economy.
Mr. Mensah recognizing the vast resources now available in Ghana’s pension system, suggested leveraging these funds to invest in impactful local infrastructure projects, such as toll roads.
By pursuing the strategies of fiscal consolidation and local investment schemes, Mr. Mensah believes the broader industry can deliver stable, inflation-beating returns to Ghanaian pensioners while also contributing to the country’s long-term economic development.
Speaking about the 10-year journey of Bora Capital Advisors, he explained that the company’s success over the past decade has been driven by a relentless focus on maximizing returns for individual pension contributors, rather than just chasing overall asset growth.
He however indicated the company had to navigate significant challenges, including currency depreciation, high inflation, and regulatory constraints that limit investment options.
Offshore Investment
Mr. Mensah speaking on offshore investment for pension funds in Ghana highlighted the potential benefits of such investments to the Ghanaian economy.
He emphasised that tapping into growing economies and sectors, such as artificial intelligence, could provide pension funds with lucrative opportunities which are not available domestically. Such investments could ultimately be repatriated, thereby bolstering the local economy and currency.
Taking a measured stance, he advocated for a balanced approach rather than an aggressive push indicating that the current economic situation would worsen if a portion of funds were taken offshore. He suggested that it would be prudent to wait for economic conditions to stabilize before advocating for expanded offshore investment allowances.
Bora Capital Advisors’s 10th anniversary celebrated under the theme ‘Grateful Hearts, Strong Foundation: Celebrating 10 Years of Successfully Helping Clients and Customers Plan, Save, and Invest for the Future’ sought to honor the company’s achievements over the past decade while laying the groundwork for future success.
Speaking at the Awards and Dinner, the Founder and CEO of Bora Capital Advisors, Nana Sarfo attributed the firm’s success to the grace of God and the unwavering support of its clients. He expressed profound appreciation to clients and stakeholders for their continuous support of the firm’s growth.
Bora Capital Advisors took the opportunity to honour its first and key clients as well as its long-serving staff. United Pension Trustees, Stallion Trust, Gentrust, and Health Sector Occupational Pension Scheme were among the recipients of special awards, recognizing their invaluable partnerships and entrusting Bora with their pension fund management.
Other individuals and staff were also awarded for their contribution over the 10 years. The Ultimate Team Player Award went to Prince Henry Danquah-Odoi, Adwoa Saa Asuming shone brightly as the Rising Star.
Meanwhile, Nana Kofi Agyemang Gyamfi and Karen Tettey Kofi were celebrated for eight remarkable years of service, while Portia Obeng Aryeh was recognized for her outstanding dedication over many years.
