Despite the controversies surrounding the implementation of the domestic debt exchange programme along with the COVID-19-induced economic crisis, the President for the Institute of Chartered Accountants, Ghana (ICAG), Mrs. Sena Dake, has averred that the country remains an attractive investment destination.
The country’s relative peace and political stability, according to her, are among the two most important factors that continue to make it a top destination for investments in the Africa, stating that the ongoing challenges are temporary.
“Despite our economic highs and lows in relation to the impact of COVID-19 pandemic and DDEP matters arising in the government’s quest to address economic challenges facing the country, Ghana has 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.”
Mrs. Sena Dake
Ms. Dake during a speech reiterated that the country is still coveted by investors because of its history of sustained peace, strong democratic credentials and skilled workforce.
The ICAG’s President however noted that more should be done to promote inclusive growth and development, especially as the country recovers from the present crisis of debt challenges.
Commenting on the notion of promoting sustainability to attract more investors, Mrs. Dake reckoned that sustainability in Ghana will be an approach to creating long-term value by taking into consideration how the country 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.”
Mrs. Sena Dake
To achieve this, Mrs. Dake disclosed that 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.
“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.”
Mrs. Sena Dake
Perspective On Ghana As An Investment Location
Ghana is well endowed with a wide range of agricultural, natural resources, and successive governments, who in recent years have forged bold and comprehensive industrialization plans aimed at adding value to our agriculture and natural resources, and leveraging the country’s rising population of educated youth.
The Country remains inclusive of world leaders in cocoa production.
Not limited to that, the country has a stable democracy, opening its access to international capital markets.
Ghana’s abundant raw materials (gold, cocoa, and oil/gas), relative security, and political stability, as well as its hosting of the African Continental Free Trade Area (AfCFTA) Secretariat make it stand out as one of the better locations for investment in sub-Saharan Africa.
Read also : BoG Provides Financial Literacy On Secure Banking Practices
