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15.03.2007 General News

Inflation subdued

By : dailyEXPRESS

The Managing Director & CEO of UBA Ghana, formerly Standard Trust Bank, Nnamdi Okonkwo has observed that Ghana has done well to effectively subdue its Inflation rate.

The rate which was 10.9% in January dropped to 10.4% in February, and according to Mr. Okonkwo the downward drift makes the timing most appropriate for the re-denomination of the cedi in July.

Speaking at the 4th (February) dailyEXPRESS BREAKFAST SERIES at the Alisa Hotel, the UBA boss said Ghana is now a preferred investment destination because of its economic stability and security.

This he says is reflected in how tourists feel free and go about their activities without any fear for their safety and security.

Mr. Okonkwo told participants that foreigners have confidence in the Ghanaian economy which has also opened up to more businesses from not only Nigeria but also from other African countries.

Speaking on the topic “China's penetration into Ghana and Africa, how local businesses can succeed?” Mr. Okonkwo advised businesses to explore partnerships for the establishment of factories and transfer of technology.

The dailyEXPRESS BREAKFAST SERIES is a monthly breakfast discussion platform. The 5th and March session will be taking place soon.

Source: dailyEXPRESS