By Hajara Fuseini

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The Chief Executive Officer of Gold Board, Sammy Gyamfi, has proposed a reorientation of the pensions strategy in Ghana for viability.

Before putting forth this argument, he stressed the unprofitability of the country’s primary pension fund investments.

“Ladies and gentlemen, let me cite this example for us to ponder over. As you may be aware, Ghana’s primary pension fund yields almost negative real returns due to investments in unproductive ventures.”

Contrasting with foreign pension funds, which witness investment in mining, he called for an overhaul.

Sammy described it as a “time-tested asset and a better hedge” against inflation.

“Foreign pension funds, on the other hand, invest profitably in mining. Why not reorient our pension strategy as a country toward gold?”

“Why can’t we establish locally managed and globally viable equity and debt funds to catalyse mining investments?”

Story by Hajara Fuseini