The Chief Executive Officer of Databank, Kojo Addae-Mensah is admonishing investors to ensure that a percentage of their investment can easily be converted to money before signing unto investments agreements.
He pointed out that majority of investors tend to invest in portfolios such as buildings and other properties that cannot easily be liquidated, hence end up handicapped when they need cash for immediate use.
In an interview with Citi Business News, Mr. Addae-Mensah advised investors to act swiftly to avert any such development.
“You need to always stay liquid. When you are investing and have a portfolio, you need to have a certain amount of portfolio that is liquid. What I am trying to say is that cement and apartments and town houses don’t pay for your electricity bill, medical bills and other emergencies”.
Mr. Addae-Mensah stated that sound investment is crucial in avoiding high risks.
“So anytime you are having a portfolio of investments you need to have a certain percentage that gives you liquidity and gives you ability to meet you emergencies so that you don’t go tapping into your long term investments” he advised.
Mr. Addae-Mensah advised investors to go for investments that best suits their zone to avoid been handicapped.
“Also, investors must know when and where to invest, for instance they must know their sources of income and that will guide their investment ways” he added.
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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana.