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Banks in Ghana are optimistic investments will pick up as depositors receive locked up cash

Banks in Ghana are hoping that they will record an increase in their investment portfolio since receivers have started repaying some of the locked-up funds to depositors of the collapsed financial institutions.

Ghana cedi

The government through the receiver is making payments to the affected customers of the savings and loan companies, finance houses and microfinance institutions.

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This is coming after the government assured the public especially customers of defunct finance institutions that it will protect the funds of depositors.

The Head of Wealth Management at Standard Chartered Bank, Setor Quashigah, told Accra-based Citi FM that he is confident that the repayment by the government would allow for investors who want some returns on their capital to take opportunities such as the purchase of government Treasury bills and bonds.

She said investors can capitalize on the prevailing market conditions to invest.

“We have seen some crises in the investment banking space. Are people confident to invest? Maybe yes, maybe not. But we have been around. And we have said we are here for good, we aren’t going anywhere. So, why don’t we guide people on what’s out there and what you can do? Don’t give up at all. Now we have seen that payments are being made to some of the people who lost their money.”

“When they collect the money, we don’t think they are going to spend it in a hurry. We should give them the confidence to know that you may have had some lows somewhere but we are happy to guide you,” the Head of Wealth Management at Standard Chartered Bank added.

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