Managing Director of EDC Investments Limited, a member of the Ecobank Group, Paul Kofi Mante, has urged Ghanaians to start the year with deliberate financial planning aimed at achieving long-term financial independence.
Speaking on Asempa FM’s Ekosii Sen show as part of the Beginning the Year Right series, Mr. Mante explained that financial independence means being able to sustain one’s desired lifestyle without relying solely on a monthly salary.
He challenged individuals to assess their financial security by asking whether they could maintain their current lifestyle if they stopped working.
“Achieving financial freedom requires discipline, consistency, and intentional investing,” he said.
Mr. Mante illustrated the power of investing, noting that contributing as little as GH¢600 monthly at an 18 per cent interest rate, compounded quarterly, could grow into over one million cedis within 19 years.
He cautioned, however, that while many people believe they are buying assets, some purchases are actually liabilities.
“You can have a good job and still be financially poor,” he remarked, adding that true financial independence allows individuals to live purposeful lives beyond the constant pursuit of money.
He encouraged moving beyond saving to focus on investing, describing saving as only the starting point in the journey toward financial freedom. He also highlighted the importance of faith, vision, and belief in a better financial future.
Mr. Mante further advised Ghanaians to compute their net worth, plan their finances, and make early preparations for retirement. He warned that procrastination, excuses, and blame can derail personal financial growth.
“Personal financial growth is a choice. You must decide to become financially independent and believe that your financial future will be better than your present,” he said.
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