“You are welcome,”
This is how you are greeted pretty much everywhere you go in Ghana, and especially as you enter a shop. It is always said in a lilting, whispery voice that is typical of the warmth of the people here. I would love to extend the same embracing hospitality to you, but my Anglo-Saxon personality may not be up to the task. Nevertheless, you are welcome.
Obviously I’m back in Accra, doing a consulting project on behalf of Palladium, to introduce better risk management at the pension funds. It’s going quite well, and certainly the funds are very receptive. But being realistic, establishing good risk management principles is easier than putting them into practice. This stems from the very narrow capital markets in this country. As in so many countries there is a good supply of government paper, but the corporate bond market is tiny. Equities are available but there are only forty or so names, and volume is low, often less than 250,000 shares traded per day. On the plus side there are a number of private equity funds available and some unlisted REITS but of course valuation and liquidity lead one to minimize those asset classes. Still, I’m doing what I love to do, making incremental improvements and working with professional and friendly people. So we rate this as good news.
As earlier blurbs have reported I have many friends in Ghana, some going back more than twenty years. As seen below, I have been out and about, so to speak, with Kwame. We did some shopping within the constraint that I have to avoid the equatorial sun whenever possible. I usually wait until sunset to do my laps in the pool for example. But indoor fun is pretty much unlimited!
This is how you are greeted pretty much everywhere you go in Ghana, and especially as you enter a shop. It is always said in a lilting, whispery voice that is typical of the warmth of the people here. I would love to extend the same embracing hospitality to you, but my Anglo-Saxon personality may not be up to the task. Nevertheless, you are welcome.
Obviously I’m back in Accra, doing a consulting project on behalf of Palladium, to introduce better risk management at the pension funds. It’s going quite well, and certainly the funds are very receptive. But being realistic, establishing good risk management principles is easier than putting them into practice. This stems from the very narrow capital markets in this country. As in so many countries there is a good supply of government paper, but the corporate bond market is tiny. Equities are available but there are only forty or so names, and volume is low, often less than 250,000 shares traded per day. On the plus side there are a number of private equity funds available and some unlisted REITS but of course valuation and liquidity lead one to minimize those asset classes. Still, I’m doing what I love to do, making incremental improvements and working with professional and friendly people. So we rate this as good news.
As earlier blurbs have reported I have many friends in Ghana, some going back more than twenty years. As seen below, I have been out and about, so to speak, with Kwame. We did some shopping within the constraint that I have to avoid the equatorial sun whenever possible. I usually wait until sunset to do my laps in the pool for example. But indoor fun is pretty much unlimited!
This trip I also discovered a really great gallery; Artists Alliance Gallery, near Labadi Beach. The gallery is right on an Atlantic beach with plenty of sunshine, south facing and yet from each stairway landing I look out and see no one. It’s the most amazing thing that there are beaches here on par with Miami that are pretty much undeveloped. Obviously it’s partly cultural, but this represents a great asset that could boost tourism. If you are ever introduced to a business opportunity in Ghana, the legal and regulatory environment is decent, and by regional standards corruption is low. Anyway, back to the gallery, I bought a portrait and the antique Ashanti icon below. The portrait isn’t on the wall because I haven’t got the room, will have to either upsize or take down something else.
Within work constraints I’ve been able to work out nearly as often as at home. Every other day I lift weights then run on the elliptical and on the intervening days a mile or more in the pool. As it’s an outdoor pool, scheduling around the strong sun is essential, so it’s usually early morning or just before sunset. Below is my swim coach, the great Kwame.
Finally, a recommendation. My friend Jorapha is about to graduate from University of Ghana with a degree in IT hardware and software. He is as smart a guy as I have come across in a long time, as well as hard-working and friendly. Any team would benefit from his expertise and energy. If you want his contact details just ask me.
On that subject I will be unemployed again soon, so if you need assistance in finance, restructuring, or strategy, then just ask me for MY contact details. Wishing you all the best,
J
On that subject I will be unemployed again soon, so if you need assistance in finance, restructuring, or strategy, then just ask me for MY contact details. Wishing you all the best,
J