Advertisement
Advertisement
Ghana News

Robust Financial Systems Key to Sustainable Economic Growth in Africa, says Ghana Stock Exchange CEO

Advertisement

The Chief Executive Officer of the Ghana Stock Exchange, Mrs. Abena Amoah, has stressed the importance of a robust financial system for sustainable economic growth in Africa. Speaking at the third edition of The Money Summit 2023, Mrs. Amoah highlighted the vital role that a strong financial system plays in enabling capital mobilization, promoting financial inclusion, fostering innovation, and supporting sustainable development.

The summit, which was organised by the Business and Financial Times, brought together experts from across the financial industry to discuss the latest trends and opportunities in Africa’s rapidly evolving financial landscape.

Advertisement

According to Mrs. Amoah, access to capital is vital for entrepreneurs, businesses, and infrastructure development, and a robust financial system provides a platform for efficient capital mobilization, allocation, and investment. It also facilitates the flow of funds, allowing businesses to expand, innovate, and create job opportunities.

Mrs. Amoah noted that by nurturing entrepreneurship and supporting the growth of small and medium-sized enterprises (SMEs), African economies can foster economic diversification and reduce reliance on traditional sectors. She also emphasized the importance of creating a healthy ecosystem of banks, capital markets, insurance companies, pension funds, and other financial institutions to create an environment conducive to growth, innovation, and shared prosperity.

For the most part, Dr. Godwin Acquaye, the CEO of Business and Financial Times, agreed with Mrs. Amoah, saying that the financial sector is key to the growth and development of the economy. He also highlighted the sector’s capability to efficiently allocate resources, assess and manage financial risk.

In a nutshell, the summit sought to enhance investor confidence and bring actors in the financial sector together to provide solutions that would anchor investor confidence in the economy and ease the hardships and challenges of the average Ghanaian. With a focus on technology, finance, investment, trade, and entrepreneurship, Ghana can restructure its economy from a service-driven one to a robust and resilient one.

Advertisement
Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker!