In his address, Mr. Gyan emphasized the critical role of savings and investment in fostering entrepreneurship, economic growth, and financial resilience. He acknowledged the challenges of navigating today's economic landscape, marked by high inflation, interest rates, and social inequality. He argued that traditional
approaches to saving and investing are no longer sufficient and called for a paradigm shift towards sustainable investment.

"The challenges we face today as a nation are many, including high inflation, rising interest rates, slow economic growth, threats of sovereign default, public debt restructuring, climate change, social inequality, and technological disruption," Mr. Gyan remarked. "These multiple challenges have varied adverse effects on the economy and the citizenry. High levels of inflation, as we know, erode the purchasing power of savings, making it essential to seek out investment opportunities that offer returns that outpace inflation."

Mr. Gyan further outlined key roles for various stakeholders in promoting a healthy investment and savings culture. Investors, he said, need to adopt a holistic risk management approach and seek financial literacy to empower themselves to make informed decisions about investments, understand the risks
involved, and navigate the complexities of the financial markets.

Banks, he argued, must offer tailored investment solutions, and utilize technology to enhance accessibility. He emphasized the need to integrate environmental, social, and governance factors into investment strategies not only to mitigate the risks but also to attract socially conscious investors and contribute to sustainable economic growth.

Regulators and policymakers were called upon to enforce regulations, promote market stability, and implement tax incentives for long-term savings. "We must consider more tax incentives," Mr. Gyan declared. If, as a nation, we want to promote a culture of savings, we must induce that through tax incentives. If, for instance, I could save towards a child's education and I could be allowed that as a deduction from my tax obligations, I have an incentive to save because I know that by saving, I will have to save something on my tax obligation. We must prescribe which long-term investments will qualify for tax incentives and pursue them."

These measures, Mr. Gyan believes, will not only enhance Ghana's investment landscape but also contribute to its economic growth and stability. Mr. Gyan challenged the current narrow perception of investment opportunities. He encouraged exploring possibilities beyond traditional assets and considering investments in the informal sector and social ventures like food joints and education.

"In our consideration of investment opportunities, do we see the Waakye seller as an investment opportunity?" he challenged, suggesting equity partnerships.
He further questioned, "Have we considered investing in schools, so we benefit from the fees we pay?"

Mr. Gyan concluded with a call to action, urging participants to chart a course towards a more sustainable and equitable future. He emphasized the need to channel resources towards sustainable energy, infrastructure, and impact investing. By embracing innovation, collaboration, and a focus on social and environmental benefits, Gyan believes Ghana can build a more resilient and prosperous future for all.

The B&ft Money Summit 2024 provided a platform for stakeholders to collaborate, innovate, and mobilize resources towards sustainable development. Fidelity Bank's partnership with B&ft underscores its commitment to supporting initiatives that promote national development and economic growth.