Finance Minister Dr. Mohammed Amin Adam has urged individuals to seek expert advice from financial analysts before making investment decisions.
He emphasized that investing in bonds or instruments carries risks, and individuals must be aware of the potential losses or gains.
The government will not take responsibility for individual investment choices, but it is committed to supporting those affected by the banking sector reforms.
During a town hall meeting in the UK, Dr. Amin Adam announced that GHC1.5 billion will be released between now and October to compensate individuals affected by the banking sector cleanup exercise.
He acknowledged that mistakes were made, and people were not well-informed, leading to severe consequences, including fatalities and suicides.
The government has already provided an initial bailout and will provide another GHC1.5 billion, with a total of GHC4 billion earmarked for compensation.
Dr. Amin Adam cautioned that just as there are responsible banks, there are also bad banks, and individuals must exercise caution and seek advice before investing.
He emphasized the importance of financial knowledge and responsible investing, and the government’s commitment to supporting those affected by the banking sector reforms.
The Finance Minister also noted that even the government experiences losses when investing in euro bonds, but it does not blame other countries for the losses.
Instead, it seeks advice before investing, and individuals should do the same. By seeking advice and being cautious, individuals can avoid mistakes and make informed investment decisions.
