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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

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    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Election uncertainties pin down investments – Ideal Finance CEO

bycitibusinessnews
October 31, 2016
in Banking And Finance, Government, Top Stories
Nii Kotei Dzani-CEO,Ideal Finance

Nii Kotei Dzani-CEO,Ideal Finance

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Citi Business News has gathered that financial institutions in Ghana have been hit hard by the election fever as investors are shying away from investing with the various financial institutions.

The financial institutions have therefore bemoaned the lack of investment opportunities derived from investors in the fourth quarter.

According to them, investment opportunities have slumped following the refusal of investors to invest for fear of the outcome of the upcoming general elections.

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Chief Executive Officer of Ideal Finance Company Nii Kotei Dzani tells Citi Business News the situation has also affected the lending rate of the financial sector.

“As a financial institution, one thing that we always work with is liquidity; we must always have money with us so that we can invest. But when it’s an election year, you see that people are holding up their funds. They are not investing. Everybody wants to wait till after elections so we are unable to lend at the pace we will like to lend to the public.”

He however clarified that “I’m not saying we are not lending at all. I’m not saying we are not investing at all. But we are not investing at the place we wanted to and it comes with almost all election years.

Nii Kotei Dzani bemoans that this development is worrisome and Ghanaians must desist from such ideology and invest to promote the financial sectors.

“I’m sure that as a country we should move away from that. Election year should be like any other year but we keep on repeating the same thing and that is what worries me,” he concluded.

–

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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