![[Ghana] Dusk Capital inks deal with IIMG Africa allowing companies access to global mutual funds](dusk capital Ghana.jpg)
[Ghana] Dusk Capital inks deal with IIMG Africa allowing companies access to global mutual funds
Indigenous investment banking firm, Dusk Capital, has entered into an agreement with the International Investment Management Group (IIMG Africa Ltd) that will give the Ghanaian company access to over 300 international mutual funds across the world.
The agreement, which makes Dusk Capital one of the few investment firms on the continent with IIMG partnership, has made it possible for the development of innovative products for the Ghanaian market.
“In December last year, we signed a partnership agreement with IIMG—an international financial consultancy firm based in London--which gives us access to over 300 mutual funds all over the world and with top leading investment banks like GP Morgan, HSBC, Goldman Sachs, and most of the top investment banking firms. We feel this partnership is a great one,” said Chief Executive Officer of the company, Bernard Osei Tutu Jnr.
“Out of this, we have developed a product called the Dusk International Saving Plan. We are saying that, it is high time Ghanaians begin to think long-term savings in nature. We have the short-term savings products but it is not helping us and it is not helping the economy as a whole. Let us no begin to think long-term,” he said.
Returns on short-term investments have is declining. The Treasury Bill rates for the 91 and 182 days begun 2016 at 22 and 23 percent respectively, but reduced to 16.7 and 17.91 percent in January.
The rates have reduced even further and currently stand at 15.6percent for a 91-day treasury bill and 17 percent for the 182-day bill.
Mr. Osei Tutu Jnr said: “This partnership agreement gives the market the opportunity to have investment which is dollar denominated. With fluctuation of the Cedi against the major currencies, we feel that it is time we have an investment that is dollar denominated. This will ensure that your money does not depreciate against inflation and the rest. So, it gives access to all of these mutual funds, but the most important and exciting thing about this is that it is long-term in nature.”
Dusk Capital was established some five years ago and uses strong product knowledge, innovative financial and capital market power to assist institutions and corporate clients in accessing local and global markets.
The firm is managed by an experienced team made up of top Investment Professionals and Consultants with in-depth knowledge and experience in Securities.
