The Chief Executive of Stanbic Bank, Alhassan Andani, has projected positive growth prospects for the country in 2017.
At the Standard Bank West Africa Trans-regional Conference held in Accra, Mr Andani said the country Ghana has taken the “tough decisions,” that will restore the country onto the path of growth from 2017.
He thus urged investors to look for opportunities that exist in the retail, infrastructure, agriculture, construction, manufacturing and information technology sectors.
“For those of you looking at investment opportunities, this is probably the best time in Ghana,” he said.
“We have taken all the tough decisions and in 2017 onwards, it will be a fantastic year for us here.”
Vish Ashiagbor, Ghana Country & Advisory Leader for PwC, reiterated Mr Andani’s projection.
“Having taken some difficult decisions, we can look forward to a brighter 2017 and beyond,” he said.
“Looking into 2017 and coming from so many challenges there are signs that we should have a more positive performance than we have had recently.”
Mr. Ashiagbor noted that, with the passage of the Public Financial Management Act, 2016, designed to address persistent weaknesses and promote discipline, transparency and accountability in the management of public funds, things should get better.
“With the amended Bank of Ghana Act, which also limits Central Bank financing of government, these new regulations are now laws and so irrespective of what happens on December 7, it doesn’t look like the situation can reverse,” he added.
The West Africa conference was organized for Standard Bank’s commercial banking clients from across sub-Saharan Africa who are interested in expanding their operations or partnering with businesses in the West Africa Region across a range of sectors such as retail, infrastructure, agriculture, construction, manufacturing and information technology.
It brought together delegates from Ghana, Nigeria, Angola, Côte d’Ivoire, China, South Africa as well as clients from southern and eastern Africa.
“Our experience at Standard Bank shows there is a great deal of opportunity in many sectors and markets across the continent if businesses are encouraged to look beyond the short-term.,” Dr Alagbaoso said.
“Positive changes such as government policies to promote commercial businesses, regular and democratic elections, improved literacy rates and education and the most youthful population in the world have highlighted to us that with the right kind of support, advice and innovation, the growth position promises to be significantly enhanced in the years ahead.”