[ 2021-02-23 ]

Kweku Adoboli to make case for mortgage-backed bond market
A former stock trader with UBS Investment Bank, Mr
Kweku Adoboli, is to share his expertise on ways
to stimulate growth in the local mortgage market
at a two-day pension conference scheduled for
February 23-24, 2021.

The UK-trained investment banker now a consultant
is billed to speak at the Pension Strategy
Conference 2021 organised by Axis Pension Trust in
partnership with the CFA Society, Ghana.

This year’s event, which is the third edition,
will be held virtually under the theme: ‘Adding
Value to Pension Funds through Alternative
Investments.’

A statement from the organisers said Mr Adoboli
was expected to kick-start a conversation on how
the country can deepen the mortgage market and use
it as a vehicle to provide decent homes and jobs
for the populace.

“Kweku will share his thoughts on how we can
leverage defined contributions (DC) pension to
improve mortgage liquidity and home ownership as
part of his presentation for the event,” the
statement said.

Perspective

Giving a perspective to the discussion, the
statement said the country was noted to be
suffering a housing deficit in excess of two
million units.

It said the country needed to provide between
190,000 units and 200,000 units at a cost of $3.4
billion every year over the next decade to be able
to close the gap.

It said although most workers in the formal sector
were contributing to pensions under Act 799, they
were unable to afford mortgages.

This, the statement said was in spite of the fact
that Act 799 made provision for contributors to
use portions of their contributions as collateral
for mortgages.

It said the conference between Axis Pension Trust
and CFA Society Ghana has assembled experts to
lead discussions on the topic with the aim of
finding workable solutions.

Source - Graphic Online

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