A 2023 report published by Old Mutual has found that 43 percent of Ghanaians were not well prepared to undertake any form of financial risk.

The development is attributed to low-risk inclination on the part of citizens to take any financial risk of any kind.

The report which is dubbed as the Old Mutual Financial Services Monitor further pointed the impact of government’s Domestic Debt Exchange Programme on the financial sector as its reasons.

It however noted that only 24 percent of Ghanaians sampled in its survey were willing to take substantial financial risk with the view of getting large returns on them.

“Similarly, those who take above-average financial risks expecting to earn above-average returns are about 19%,” the report said.

The Old Mutual report also revealed that seven out of 10 working Ghanaians do not deploy the services of a financial adviser to provide counsel on their finances.

Consequently, about 46 percent of Ghanaians expressed that they were not certain on who to turn towards to in terms of their finances.

MA/NOQ

Watch a recap of business stories below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel