The Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante-Asiedu, has emphasized the need for Africans to strategically structure their resources to build resilience and navigate current challenges.
In an interview, she said that resilience comes from within; therefore, Africans need to restructure their revenue, which she described as a significant resource.
“Africans have excess of one trillion revenue when it comes to expansion funds, capital and bond markets, investment and savings that’s a significant resource, the only difficulty is that it hasn’t been properly channelled into long term investments.
“So for Africans really to be resilience and to withstand the clear challenges that present itself to us today, I believe that we need to pull those resources and properly structure them,” she stated.
Madam Asante-Asiedu pointed out that there are more than 30 stock and bond markets across Africa, but because they are not structured to work together, one country cannot borrow from another, which is a major problem facing African economies.
She urged African nations to pool resources, look inwards, and build the continent’s resilience.
She indicated that this will require strong political will and committed economic actors to lead the conversation.
“If stocks and bonds were properly structured, Ghana can borrow from Kenya, and through that, Kenya investment will get returns, and the Ghanaian economy will also grow through the investment.
“I think it’s about pooling results, looking inwards and building the resilience that the continent needs, and it requires a lot of political will and also economic actors really leading the conversation,” she said.
Source: Vanessa Elizabeth Nkum
