Head of Corporate Sales at EDC Investments Limited, Victor Tandoh has advised Ghanaians to be patient with their investments and see them grow over time.
According to him, Ghanaians have the misconception that investments have to grow outrageously over a short period “and that is why many people suffer Ponzi Schemes. There is nothing like quick money but one needs to be consistent and patient.”
Speaking in a special edition of Happy98.9FM’s Showbiz Xtra show on investment for creative arts personalities, Victor Tandoh added, “Many have the misconception and think that investments will give them quick money. No, investments happen overtime. Investments need patience and time and that’s what we need to preach.”
He admitted that the general education and knowledge of the ordinary Ghanaian on investment is low with some not even knowing the difference between savings and investments. “Even outside the creative arts industry, many people have little knowledge on investments. When you get the chance to educate people on investment, you will realize that they confuse simple things like investments and savings.
Some think keeping part of what they earn in the bank in investment but investment is putting aside money so you earn some profits or returns.”
The investment banker shared that a critical factor to investment is consistency and advised investors to consistently make monthly contributions payments into their investment accounts. “And we always advise out investors to give their investments time and watch them grow.”
Ecobank Development Corporation (EDC) Ghana is the securities, wealth and asset management subsidiary of the Ecobank Group in Ghana.
