Bankers are increasingly becoming amenable to agriculture financing, which they have long avoided for its unduly risky nature, on the back of recent attempts by government to inject confidence into the sector. The central bank, in October 2016, announced a GH¢100 million guarantee to banks that lend to the sector, whilst the Akufo-Addo administration has … Read more
The President of Groupe Ideal, Nii Kotei Dzani, has called on the Bank of Ghana (BoG) to sanitise the operations of financial institutions in the country. According to him, the financial sector was disorganised because some microfinance institutions were operating like commercial banks, while others were working without the required capital as prescribed by the … Read more
Banks are paying an average of 11.9 per cent per annum as interest on deposits but charging their borrowers an average of 33.4 per cent as nominal interest on loans annually, data from the Bank of Ghana (BoG) on the annual percentage rates (APRs) and Average Interest (AI) of banks has shown. While interest on … Read more
Financial institutions in the West African sub-region have been urged to get conversant with activities of operators in the fertiliser value chain in order to provide them with the needed financial support. Speaking at a workshop held in Accra yesterday, an agriculture consultant and former banker, Mr Francis Osei, encouraged finance firms to continue to … Read more