6.7   Low  Savings  and  Investment   Savings   and   investment   among   the   populace   in   the   country   is   generally   low.   The   share   of   savings  deposits  in  people  portfolio  choices  declined  from  36.6%  in  2005  through  35.9%  in  2006   to   22.3%   in   2007   while   the   share   of   time   deposits   fell   from   27.7%   to   21.3%   from   2006   to   2007,   ISSER  (2008).  The  share  of  money  market  instrument  increased  from  36.3%  in  2006  to  56.4%  in   2007,   implying   that,   people   were   putting   their   moneys   into   treasury   bills   even   though   their   yields   were   falling.   Many   Ghanaians   also   still   prefer   to   keep   moneys   in   their   homes   and   stores.   The   recent   spate   of   market   fires   in   which   billions   of   cedis   (cash)   were   lost   to   fire   however   is   making  many  traders  rethink  their  strategies.       In   addition,   the   Bank   of   Ghana   reports   that,   over   70%   of   total   currency   issued   by   the   bank   circulates   outside   the   formal   financial   system.   In   the   APRM   Monitoring   Group   survey,   stake   holders  lamented  the  wide  interest  rate  disparity  between  savings  (3-­‐5%)  and  borrowing  (19.5  -­‐ 25%)  as  a  disincentive  for  Ghanaians  to  save.  Thus,  it  was  suggested  that,  the  Bank  of  Ghana   “on-­‐site  cash  collection”  should  be  intensified  to  achieve  its  intended  objective.     6.8   Set  up  Investor  Referral  Points  and  Dedicated  Investor  Handholding  Services   Investment   is   key   for   accelerated   socio-­‐economic   development   to   achieve   sustainable   development   and   poverty   reduction.   The   Ghana   Investment   Promotion   Centre   (GIPC)   is   mandated   for   the   registration   of   all   investors   in   Ghana.   In   order   to   boost   investment   in   the   country,   the   GIPC   has   obtained   office   accommodation   in   Kumasi   and   Tamale   to   set   up   investment  referral  points  under  the  trade  sector  support  programme  (TSSP).     6.9   Develop  and  Promote  Investment  Packages  for  Strategic  Sectors   The  investment  framework  of  Ghana  guarantees  tax  holidays  for  potential  investors.  Investors   interested   in   cocoa   production   enjoy   a   full   tax   free   regime   while   those   interested   in   tree   cropping   and   cattle   ranching   enjoy   a   10   year   tax   holiday.   Other   attractive   incentives   include   easy   remittances   of   dividends,   profits   and   fees   and   a   liberalised   import   regime   and   foreign   exchange  transactions.   134