There is a widening and concerning investment behavior across generations in Ghana, according to findings from KPMG’s latest banking industry customer experience survey.
The findings of the survey cited by The High Street Journal reveal that, for older Ghanaians, especially those aged 60 and above, investing remains a priority and a habit shaped by experience.
This group overwhelmingly favours stability, with 32% investing in commodities such as precious metals and 30% placing their money in treasury bills. KPMG indicates that this generation prioritizes tangible assets, predictable returns, and capital preservation in uncertain times.
“Older respondents, particularly those aged 60 and above, favour commodities such as precious metals (32%) and treasury bills (30%), aligning with a preference for tangible and stable assets,” the report noted.
However, younger generations, which are the Millennials and Gen Zs, however, the story is very different.
The survey revealed that among Millennials, more than one-third, that’s 35%, report having no investments at all. What makes this concerning is that this figure has steadily risen from 17% in 2023 to 32% in 2024.
Even among those who do invest, choices remain conservative, with 28% opting for treasury bills.
The picture is even starker for Gen Z. Nearly 43% of respondents in this age group say they have no investments whatsoever. The generation represents the highest level of disengagement across all generations.
Rather than long-term investment vehicles, Gen Z respondents lean toward immediate, flexible income streams, side hustles, short-term gigs, and daily cash flow to cope with rising living costs and economic uncertainty.
“Millennials show lower participation, with 35% reporting no investments, a marginal increase from 32% in 2024 and 17% in 2023, signalling a concerning decline in engagement. Among Millennials who do invest, 28% opt for treasury bills. Gen Z showed the highest disengagement, accounting for 43% of respondents reporting no investments at all, highlighting a generational gap in financial planning and investment orientation,” the report revealed.
This means that while older Ghanaians focus on securing the future through stable investments, younger generations appear trapped in survival mode, prioritising today’s expenses over tomorrow’s security.
“This disengagement is partly explained by Gen Z’s preference for immediate and flexible income sources such as side hustles to manage day-to-day expenses and mitigate economic uncertainty, leaving limited surplus income for long-term investment vehicles,” the report further stated.
This trend, if left unaddressed, could have long-term consequences for wealth accumulation, retirement readiness, and overall financial resilience.
The challenge now is not just access to investment products, but restoring confidence, surplus income, and a culture of long-term planning among Ghana’s younger population.
