JPMorgan to open office in Ghana on better macro-economic policies in Africa

US-based investment bank, JPMorgan will early this year (2012) establish a representative office in Ghana, reports the Financial Times (FT) January 2, 2012.

The bank is also planning a similar move in Kenya.

Mr John Coulter, senior country officer for sub-Saharan Africa at JPMorgan explains to the FT that Africa is being taken more seriously as an investment and business destination saying “If we invest now, then we will reap the upturn in Africa, whether it’s in five years, 10 years or 20 years, but we recognise that we need to make that investment now.”

“Better governance and macro-economic policies, together with greater political stability in a number of African countries, have contributed to a significant improvement in the overall economic performance of the continent,” Mr Coulter is quoted as saying.

It is estimated that at least 35 of JPMorgan’s top 100 global clients are already operating in Africa.

By Ekow Quandzie