The results of the 2023 Old Mutual Financial Services Monitor show that 43 percent of Ghanaians are not willing to incur any financial risk at all because they are low-risk inclined individuals.
This is a continuation of the financial sector’s response to the Domestic Debt Exchange Program. Still, twenty-four percent assume significant financial risk in the hope of reaping great rewards.
Likewise, approximately 19% of investors take above-average financial risks with the expectation of earning above-average profits.
Seven out of ten Ghanaians who are employed do not use financial advisers, according to the research. Of those surveyed, 46% acknowledged that they don’t always know who to trust with their financial matters.
Regarding company ownership, the study found that slightly more than half of Ghanaians in the workforce are either full or part proprietors of tiny, micro businesses.
When it comes to financing their businesses, entrepreneurs demonstrate their independence by choosing to use their funds and investments or their revenues. Credit availability issues could also be a factor. However, just 11% receive funding from a provider of financial services.
