Don't lend to government at the expense of private sector
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Don't lend to government at the expense of private sector


Summary short_text

Stakeholders at the launch of a report assessing Ghana's competitiveness and available opportunities for the country under the African Continental Free Trade Area have blamed the continued lending by some banks to government as well as the high treasury bill rates, for the low level of credit advanced by financial institutions to the private sector.

Comparing Ghana to other frontier economies, the Managing Partner at international advisory firm Konfidants, Michael Kottoh, noted that more needs to be done to improve the share of credit to the private sector in Ghana to the levels of countries like South Africa and Morocco.

On his part, the CEO of the Association of Ghana Industries, Seth Twum-Akwaboah, called on stakeholders to put in place policies that will direct banks especially ones with government influence not to lend to government.


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