The average Ghanaian, in his or quest to invest, will choose safety and preservation of capital over risky but high-returning options.
A new survey findings are pointing to a deeply conservative investment culture shaped by uncertainty, past experiences, economic shocks, and a strong desire to preserve capital.
According to KPMG’s 2025 West Africa Banking Industry Customer Experience Survey, Treasury bills have emerged as the single most preferred investment option among respondents, accounting for 25% of choices.
Next to T-bills are fixed and term deposits, following at 11%, reinforcing a clear bias toward low-risk, predictable returns rather than high-yield but volatile assets.
This preference reflects a population that has become cautious after years of economic instability, currency depreciation, high inflation, and financial sector disruptions. As a generally low-income economy, the priority of many Ghanaians is no longer how much they can make from the investment, but how much they can protect.
“The investment landscape reflects cautious sentiment among respondents, with preferences skewed toward low and medium-risk opportunities. Survey results showed that treasury bills remain the most preferred in vestment option (25%), followed by fixed or term deposits (11%), underscoring a strong inclination toward secure and predictable returns,” the KPMG survey findings noted.
It added, “This conservative approach is likely driven by residual uncertainty and a desire to preserve capital.’
As has also been the notion, treasury bills, backed by government guarantees, offer steady returns and have become the go-to refuge for savers seeking certainty.
Moreover, fixed deposits, though less liquid, appeal to investors who value discipline, assured interest, and insulation from market swings.
Together, they dominate portfolios in a climate where trust and stability matter more than aggressive growth.
Financial analysts say this conservative posture is a rational response. With lingering uncertainty about macroeconomic recovery and limited appetite for risk, households and businesses alike are choosing instruments that safeguard hard-earned savings rather than expose them to potential losses.
