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Business News of Tuesday, 17 December 2019

Source: businessworldghana.com

Investment guru cautions Ghanaian business to give realistic expectations


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The Chief Investment Officer (CIO) of Casey Programs, Mr Joseph Boateng has called on Ghanaian businesses to be transparent and realistic in their dealings to enable them easily secure international institutional capital to stimulate business growth.

He said this during a moderated discussion with Eric Osiakwan, Managing Partner Chanzo Capital at the 27th MTN Business World Executive Breakfast Meeting. He noted that having a good business plan alone isn’t enough and that Ghanaian entrepreneurs should have a realistic execution plan coupled with transparency, reasonable expectation and a productive team before they can attract significant international capital.

“Transparency helps: having a plan alone doesn’t cut it, you need to be realistic in terms of returns that one would get with the capital provided, draw reasonable expectations and also having a team that can really deliver is very important,” he explained.

For someone with decades of investor experience on the continent, he believes that emerging markets including Ghana has all the determinants or active ingredients for success, however the execution after investment, he indicated, is critical to the sustenance of any business entity that aspires to reach its peak and compete with the outside world.

“Private equity, Fintech, Real Estate and many opportunities exist in Africa but having the right people to do the job and not just talk is quite crucial,“ he intimated.

In his welcome address, Samuel Koranteng, MTN Corporate Services Executive noted that the theme for the event, comes at a relevant period when Ghana is going through some financial transformation especially within the banking sector, the reforms has necessitated the review of banking capital required for banks to operate in the country.

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