With the launch of Stanbic Bank Ghana’s Wealth and Investment offering, the country’s growing population of High-Net-Worth Individuals (HNWIs) can take advantage of a tailored financial services proposition that focuses not only on the critical aspects of wealth creation and preservation, but on philanthropy and legacy building.
The 2016 Knight Frank Wealth Report revealed that the West African nation has experienced the fastest High-Net-Worth growth rates in Africa over the last 14 years, and this trend will continue with Ultra-High-Net-Worth market growth rate anticipated to increase by 85% over the coming 10 years. This market is largely represented by entrepreneurs, and the latest globally connected crop have a broad view of the kind of wealth creation tools needed to meet their lifestyle needs and fund the next wave of economic growth.
Speaking at the recent launch, Alhassan Andani, Managing Director of Stanbic Bank Ghana, reiterated the fact that Ghana will benefit from economic opportunities fuelled by its stable leadership and increasingly diverse economy. To get the most out of these benefits, investors require the right level of specialised, personalised financial support – exactly the type Stanbic Ghana’s new Wealth and Investment division will provide.
Ben Mensah, Head of Stanbic Bank Wealth and Investment, maintains that Ghana’s economic climate will profit Ghana’s HNWIs if they have more domestic investment opportunities and better access to holistic wealth solutions. This is especially relevant, as research shows that the country’s wealthy are increasingly concerned about not only creating wealth, but protecting it by managing risk, preserving wealth between generations, and leaving a social legacy through high-impact social causes.
Mr Mensah predicts that Ghana’s HNWIs and those who make up the diaspora will demand services that enable them to support their entrepreneurial aspirations, while allowing a platform to further grow their wealth through diversification in Ghana’s rapidly emerging investment opportunities. In addition to domestic investment, Stanbic Bank Ghana is uniquely positioned to leverage in-depth sector knowledge, expertise and established networks to link Ghanaian investors with opportunities across the continent.
The decision to launch Wealth and Investment in Ghana was an obvious one: Besides the fact that the country is booming, it also has a long and proud tradition of entrepreneurship and innovation, even under challenging circumstances. And Ghana is, of course, poised to grow even faster as the TEN oilfield comes on stream and the country gears up to become - in all probability - the fourth biggest oil producer in sub-Saharan Africa over the next five years.
As Ghana empowers itself to become one of the leading industrial nations in Africa, Stanbic Bank Ghana’s Wealth and Investment division undertakes to empower our clients to make the right financial decisions that will see them reach their financial goals and meet their lifestyle needs. For more information, please visit: http://www.wealthandinvestment.standardbank.com/
Click here to download the Knight Frank Wealth Report.