Ghana's fragile economy; Time to invest is now - Yale Professor

Global equity investor, Dr. Vikram Mansharamani says though Ghana's economy is currently suffering depression, the timing provides the best opportunity for investors to spend.

According to the Yale Professor, the state of the economy presents a fine opportunity for the government to implement policies that can turn things around to make businesses succeed in the country.

“I believe the best time to invest is when others are not investing, that's the best time that creates the best of opportunities,” Dr. Vikram Mansharamani stated on Joy FM's Super Morning Show, Tuesday, ahead of this year's Festival of Ideas, which begins on Thursday, August 14.

“Confidence has fallen dramatically, that's actually a great time to invest…One of the worst times to invest is when there is extreme confidence or over confidence that may be a sign of a slowdown forthcoming.

“Whereas, usually [not always] when there is despair and fear and despondency in the air and economic confidence is low; that's usually a good time to invest especially, if policies can be implemented to turn the tide,” he added.

Festival of Ideas is a conference that brings together business heads, top corporate executives and professionals from different sectors for insightful presentations, corporate training, brainstorming and networking.

It also appeals to the crème de la crème of corporate Ghana that this year's conference, which will be the 8th edition, will once again bring together top business leaders to focus and deliberate on Strategic Repositioning.

Themed: "Strategic Repositioning", the Festival of Ideas 2014 would emphasise on Strategy Planning & Execution, Leadership Strategies, Achieving Competitive Advantage, among others.

Dr. Mansharamani, a guest speaker for the event, advised businesses to restrategise and carefully analyse “the various scenarios that may occur in future and how to position one's self accordingly in the best place to succeed.”

“Plan through a handful of scenarios, understanding their ramifications for your business and then developing a strategy that lets you adopt as the world evolves,” he said.

The global investor further stressed: “If you are in business and your revenues are in dollars and your costs are cedis; that's probably a good business today. Whereas the flip side of having your revenues in cedis and then your costs be in dollars could be a very problematic business.”

In conclusion, Dr. Mansharamani indicated that “the dynamic environment requires dynamic approach to managing one's business.” Story by Ghana | Myjoyonline.com | Jerry Tsatro Mordy | [email protected]