Ghana’s investment landscape is undergoing a significant transformation, with more individuals opting for low-risk financial instruments to secure their wealth. According to the 2024 KPMG West Africa Banking Industry Customer Experience Survey, 39% of Ghanaians now prefer Treasury Bills as their primary investment choice, driven by concerns over inflation and currency depreciation.
The report highlights a growing preference for financial stability, with 25% of respondents choosing fixed-term deposits over more volatile assets like stocks and bonds. Additionally, mutual funds are becoming increasingly popular, now accounting for 23% of total investments, signaling a shift towards diversified, professionally managed portfolios.
The survey also reveals changing behaviors among millennials (ages 26-41), who are investing less overall but favoring Treasury Bills as a means of preserving their wealth. Individuals over 60 are similarly investing less, as financial pressures like rent and family obligations lead to a significant increase in the percentage of non-investors, rising from 17% in 2023 to 32% in 2024. However, Gen Z investors are showing a growing culture of saving, with 13% of them setting aside between 21% and 40% of their monthly income.
Investment decisions in Ghana are not solely driven by returns; personal and family priorities play a crucial role. The report shows that 24% of respondents are investing in skill acquisition and business ventures, reflecting a strong entrepreneurial drive. Another 24% are directing their funds toward education, healthcare, and family needs, highlighting the importance of household financial stability. Additionally, 22% of respondents are focused on wealth creation through property investments and business expansion.
Despite the interest in higher-risk investments from 34% of respondents, knowledge gaps remain a significant barrier, preventing many Ghanaians from diversifying their portfolios. With the rise of digital banking, financial institutions have a unique opportunity to address these gaps by providing tailored financial literacy programs, advisory services to help customers explore alternative investment options, and user-friendly investment platforms that make access to diverse financial instruments easier.
As Ghanaians increasingly seek long-term financial security, banks that offer personalized solutions, enhance digital accessibility, and prioritize financial education will not only attract more investors but also build lasting trust in an evolving economic landscape.
