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Business News of Tuesday, 29 November 2016

Source: 3 News

Let’s put Ghana above political interest on December 7 - Akosua Oppong-Tawiah

The Managing Director of Capital & More Microfinance, Mrs Akosua Oduma Oppong-Tawiah, has urged Ghanaians to put the country above their political interest as they go to the polls to elect a president and members of parliament on December 7.

She said it is imperative for Ghana to maintain its stable political environment for the sustenance of peace in order to drive business growth after this year’s elections.

“Let’s put Ghana first regardless of which party comes in or which party leaves. I think Ghana should be the winner after 7th December,” she told 3News in a peace message to Ghanaians.

“We as members of the business community, we are interested in having a stable political environment, peaceful climate and to be able to do what we have been mandated to do so I wish Ghana well, I wish microfinance industry well,” she added.

Investment slowdown due to elections, Xmas Mrs Oppong-Tawiah observed that the election season coupled with Christmas has caused a decline in business activities in the country, especially in the financial sector, because a lot of withdrawals are being made with little investments.

“This year particularly coupled with the elections, there is a little bit of a slowdown in the activities that are happening regarding deposit investment and loans so I really wish all of us well,” she said.

The banker explained that trend analysis of the financial sector over the years shows people make a lot of withdrawals during the Christmas season to prepare for the yuletide.

“It’s a trend analysis that has been done for years and it’s been repetitive. What it is, is that, people withdraw. Traders do stock up beyond normal because of optimism for the Christmas season so you expect that deposit and investment definitely goes down,” she indicated.

Mrs Oppong-Tawiah said others also spend more on other things such as home furnishing and clothing, adding, “So there’s a lot of spending that happens during this period”.

She said notwithstanding, “We are very prepared; Capital and More is very prepared for any eventualities from that side”.

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