Business News of 2014-08-29

Investors urged to be ethical

The Moderator of the Presbyterian Church of Ghana (PCG), Rt. Rev. Prof Emmanuel Martey, has called on investors to adhere to ethical standards in their activities.
He said, most investors are only interested in ventures that provide adequate financial returns, and not those based on accepted ethical principles.
That situation, he said, led to investments in industries such as pornography, tobacco and guns, which could be detrimental to the growth of society.
Rt Rev. Prof. Martey made these comments during the launch of SGL Royal Kapita, an investment advisory and pension fund management firm, in Accra yesterday.
The ceremony, which was held on the theme, “Our World, Our Investments in Ethical Values,” was attended by the National Chief Imam, Sheikh Osman Nuhu Sharabutu and some players in the financial industry.
Rt Rev. Prof. Martey stated that unethical investments do not only damage and destroy the environment, but they also brought suffering to people.
He said some investors associated their businesses with community support programmes and yet they still invested in organisations that caused harm and damage.
“There are some investors who do not care if the Ghanaian society suffers and they get their profit,” he said.
He, therefore, admonished the business community to always support entrepreneurs with integrity who had impacted positively on people’s lives.
The Chief Executive Officer (CEO) of SGL Royal Kapita, Dr Bernard Tetteh–Dumanya, said the competitive nature of the financial industry has pushed industry players to introduce innovative and customer-oriented products.
That, he said, had helped in the growth of the industry which had impacted positively on the country’s economy.
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