Kwame Pianim, an economist, has described entrepreneurs and investors as national assets and as such must be nurtured.
According to him, investment is the framework and right place for unearthing entrepreneurial talents in the country.
In view of this, Mr Pianim urged financial institutions including the Bank of Ghana, Ghana Bankers Association and accountancy groups to educate Ghanaians on financial literacy.
He made this revelation at the Tesah Capital Dialogue Series, on the topic: “Investing in Ghana: My Journey and Lessons”. The Economist explained that “investing is the cradle and incubator for unleashing the entrepreneurial talent of our nation”.
“And all of us must decide and agree that investors and entrepreneurs are national assets and we must learn to nurture and protect them us a nation”.
Additionally, Mr. Pianim emphasized that the macroeconomic environment is very crucial in boosting the investment environment. As such, policy makers must endeavour to stabilise the macro environment.
Economic climate in Ghana
Mr Pianim further noted that, a volatile macroeconomic environment could wear down gains of investments. He underscored the new for young entrepreneurs to learn lessons from veteran investors to guide their business decision.
“My first investment goal was to own my house by the age of 45. So, I invested in a 10-year life policy to earn a ¢100,000 to buy our dream house though the ¢100,000 will buy you two dream houses then. I got a ¢100,000 alright after 10 years, but the exchange rate has moved from ¢1.1 to $1 to ¢3.50 to $1, so as my friend Yaw Osafo Marfo reminds us, we all eat macroeconomics.
“The investment landscape in Ghana can be exhilarating, fulfilling as well as very stressful. An unstable macroeconomic environment is our Achilles heel. It demands running fast to sound ground. We trust some of the takeaways and lessons from our journey will help new investors keep their heads above water as they navigate through.
“Continue we must; others have succeeded largely because nobody told them their dreams were impossible though beware of the macroeconomic thief.”
Investment is a calculated risk
Mr. Pianim also said investment is a calculated business and therefore no investor should invest with his heart.
Similarly, he advised all and sundry to help protect the relative peace enjoyed in the country. This, he explained, is essential to a successful investment.
“Investments is a calculated business, do not invest with your heart. I got involved in sea fishing, out of a misery of a fisherman trained in Russia, he has been arrested in one of the many military takeovers and the wife came to see me in Tema. I told a colleague of mine who was in charge please investigate quickly. They did it, he had done nothing wrong, he was released. I asked him, what do you do and he said he was a fisherman trained in Russia. Due to him, I got two friends together we bought a boat and I still remember it.
“This beautiful and amazing nation has abundant resources, both human and material and opportunities. With all its imperfections, the relative peace we’re enjoying today in this nation is an envy of many, we must protect it”.
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