DON’T INVEST OUT OF GREED!
-Finance expert advises public
Chartered accountant and investment consultant, Ernest Yaw Anim, has counseled the public not to, “out of greed and ignorance”, commit their hard-earned monies to firms.
“Some people are too greedy for higher returns and have lost big time. If an investment or financial institution promises you 30% return on investment, how realistic is it per who they are? You have to do due diligence through research about the credibility of the institution, seeking expert advice for free or at a fee, questioning the returns the institution is offering. The fact that the institution is regulated doesn’t mean you should rush to commit your funds to them. If you’re risk averse, it’s safer to go for the fixed incomes (government bonds, treasury bills, etc) or a realistic rate say around 19%, Mr. Anim in an interview with Learning Matters’ editor Osei Kuffour in Accra on Wednesday, September 16.
The banking sector of Ghana has, within the past few years, gone through unprecedented crises leading to a robust clean-up by the government to restore some sanity and confidence that dwindled. Many institutions collapsed, leading to funds, jobs, lives losses.
