Consider risk in investments alongside benefits

THE Head of Treasury at CAL Bank Limited, Mr Philip Duodu Fynn, has advised the public to consider the risk involved in any form of investment they want to undertake and not necessarily the interest on that investment.
He cited the case of Pyram where the interest on investment in that financial institution was so high that it attracted a lot of Ghanaians, but were not able to pay the interest forcing it to fold up after a few months of operation in the country.
Mr Duodu Fynn gave the advice when he addressed customers of the Spintex road branch of CAL Bank at a customer focused meeting in Accra.
He said demanding higher returns on one's investment in itself was not a bad thing to do "but the question is, does the financial institution have the ability to pay that sum of interest," he asked.
He, therefore urged the public to invest with credible financial institutions so as to secure their investments and also to achieve their purpose of investing.
Mr Doudu Fynn also outlined the various stages on investment, which he metioned as Accumulating phase, Consideration phase and the Spending phase. These stages, he said, were very important in order to know what to do at every stage of the investment.
A General Manager of the bank in charge of Finance and Administration, Mr Philip Owiredu, answering questions from some customers gave the assurance that, the bank with all it achievement over the last few years was putting in place approprate measures to meet the demands of their cherised customer across the country.
Mr Owiredu said the purpose of the customer focused meeting was to educate their customers on the bank's products and also to address problems they encountered while doing business with the bank