Speaking during the company’s 10th-anniversary celebration, Mr Mensah highlighted the challenges faced by the industry and emphasised the need for policy interventions that go beyond short-term fixes.

“The fundamental issue starts with solving the problem at the fiscal level. If you don’t address that, all other interventions will eventually unravel,” he said.

Mr Mensah elaborated on the need to prioritise real productivity in the economy, stating, “It’s about revenue, expenditure, and what’s happening in the real productive sector. Too often, short-term measures are implemented to provide temporary relief, but the focus should be on long-term fiscal consolidation.”

He also pointed out the effects of Ghana’s economic challenges on returns, particularly in the pension industry.

“The depreciation of the currency, high inflation, all that impact the returns significantly. You may be making a good return on the CD, but what is the real value of the return? If you take out inflation, what is the purchasing power of the money that you are managing? However, the pension industry is regulated. What you can do with your money is regulated by the National Pension Regulatory Authority,” Mr Mensah noted.

He further explained that, given these regulatory constraints, pension fund managers must focus on maximising returns within the system.

“You have to work with the constraints that you have and ask yourself what best can I do? If you find a local fund that is already invested offshore, then you can invest in that fund, but you can’t invest directly offshore.

“So, with all these constraints, the only way out is to say, amid this constraint, you want to get the best returns you can for your clients here, so that the impact is systemic. You cannot escape the impact.”

According to him, ensuring fiscal stability is crucial for creating jobs, boosting government revenue, and achieving overall economic stability.

“When the real economy performs well, it creates jobs, provides government revenue, and supports the expenditure needed to maintain economic stability. Without this focus, we risk moving from one crisis to another, as short-term measures are not sustainable.”

Bora Capital Advisors, a financial advisory firm that has grown into one of the top five players in its sector over the past decade, celebrated its 10th anniversary under the theme “Grateful Hearts, Strong Foundation.” The company has consistently expanded its market share by providing clients with simple yet effective financial solutions.

CEO of Bora Capital Advisors credited the company’s success to divine favour and client loyalty. He remarked, “Our growth has been driven by the trust and repeat business of our clients, who appreciate Bora’s simple yet effective financial solutions.

Since the blessing of our offices by Rev. Fr. Andrew Campbell, SVD, on 4th September 2014, our company has grown into a Top 5 player in the industry.

This achievement is reflected in our yearly increase in market share and strong financial results, fuelled by our commitment to serving clients with dedication and excellence.”

Mr Mensah’s call for fiscal consolidation underscores the importance of strategic, long-term planning in the financial sector, as  Bora Capital Advisors continues to thrive despite the ongoing economic challenges.