Dr. Johnson Asiama, Governor of the Financial institution of Ghana
The Governor of the Financial institution of Ghana (BoG), Dr. Johnson Asiama, is urging business banks to leverage the steadiness within the monetary sector to drive financial development.
Talking at a gathering with chief executives of banks in Accra, Dr. Asiama emphasised that the good points made in stabilising the banking system should now translate into tangible advantages for the actual financial system.
He challenged the banks to channel extra credit score into productive sectors reminiscent of agriculture, manufacturing, and infrastructure growth, which have the potential to speed up job creation and enhance livelihoods.
“Now we have labored arduous to revive stability within the banking sector. It’s now time for that stability to be translated into actual financial development. I’m urging our banks to channel extra credit score into productive sectors of the financial system and supply stronger assist for SMEs, which stay the engine of job creation,” He stated
He additionally underscored the necessity for stronger assist to small and medium-sized enterprises (SMEs), describing them because the spine of the Ghanaian financial system.
“SMEs are essential to our development agenda, but they typically face challenges in accessing reasonably priced financing. The banking sector should play a much bigger position in bridging this hole,” he said.
Dr. Asiama assured that the central financial institution will quickly roll out a consolidated set of measures to additional strengthen the sector, improve liquidity administration, and promote innovation in monetary providers.
These insurance policies, he famous, are designed to make the sector extra resilient and higher positioned to assist Ghana’s financial transformation.
The assembly fashioned a part of the central financial institution’s ongoing engagements with business stakeholders to align coverage targets with non-public sector participation in financial growth
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