The executive director of the Centre for Greater Impact Africa, who was speaking at the Ghana News Agency’s Tema Industrial News Hub boardroom dialogue platform on the theme “investment and sustainable development,” highlighted that Ghana does not accept cryptocurrency investments. He claimed that because Bitcoin is not regulated by law, everyone who invests in it does so at their own risk.
He went on to say that, whereas other countries have adopted it as part of their national currencies, Ghana has yet to do so. Investing in cryptocurrencies in Ghana, according to Reverend Dr. Mensah, is a risky business because there are no actual offices or employees to turn to in the event of a crisis.
According to the economist, the premise behind notable people bitcoin is a ruse to entice uninformed investors to participate in such a high-risk enterprise.
He went on to say that while most countries have issued warnings to their citizens about cryptocurrencies, operators are now attempting to persuade the general public by endorsements.
Mrs Ramat Ebella Ellis, a financial planner and the banking executive and investment advisor for the Centre for Greater Impact Africa, cautioned the audience that the higher the return rate on an investment, the bigger the risk.
Before investing in such things, she recommends doing a background check by calling BOG to find out about the legal fulfillments of the product.
She also recommended all potential investors to put their money into Bank products Treasury Bills, Fixed Deposits, Cocoa Bills, and Mutual Funds. She went on to say that people should start small and that it is incorrect to believe that investing can only be done when one has a steady salary or a large sum of money.
Mrs. Ellis emphasized to the audience that investing is for everyone and is the best method to ensure one’s future security. She explained that investing is all about making the best of what you have. It doesn’t matter how insignificant it is.
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