The Financial institution of Ghana (BoG) is finalising a complete digital lending informationtraces, which can be issued by August 2025, Governor Dr Johnson Pandit Asiama, has disclosed.
He mentioned the digital lending pointers had turn into vital to guard the monetary consuming public.
“That is an pressing and vital intervention,” Dr Asiama mentioned when he met the Chief Govt Officer (CEOs) of the common banks within the nation.
The assembly shaped a part of the post-Financial Coverage Committee (MPC) with some stakeholders.
“As we speak, too many Ghanaians, particularly younger individuals and informal employees, are being lured by on-line lending platforms that make daring guarantees, solely to show round and lure them in cycles of hidden charges, harassment, or worse,” the Governor mentioned.
He added” We’ve acquired experiences of people being threatened, shamed, or scammed, all below the guise of accessing fast loans. We can not enable this to proceed.”
The Governor mentioned the upcoming pointers would deliver clear, enforceable requirements to each bank-led and non-bank digital lending fashions.
Dr Asiama mentioned the brand new informationtraces can be round licensing and authorisation, disclosure and rate of interest transparency, knowledge safety and buyer privateness, and moral restoration and assortment practices.
“Our aim is to guard borrowers, particularly probably the most weak, from exploitation, and to allow accountable, well-regulated digital lenders – together with banks and their fintech associate’s lenders – to thrive,” the Governor added.
He emphasised that” In case your establishment is lively in digital lending, whether or not straight or by third events, now could be the time to evaluate your fashions and put together for compliance. Allow us to work collectively to construct a digital lending area that serves individuals with dignity, equity, and integrity.”
Pertaining to excessive non-performing loans to revive confidence within the banking system, Dr Asiama mentioned the BoG would quickly situation a complete directive to deal with persistently excessive NPLs throughout regulated monetary establishments.
“The upcoming measures will mandate write-offs of totally provisioned loans with no lifelike restoration prospects, excluding related-party exposures, cap NPL ratios at 10 per cent of gross loans by December 2026, tighten restructuring guidelines, requiring sustained reimbursement earlier than reclassification and implement well timed collateral restoration, particularly for overdue loans.
As well as, the Governor mentioned the brand new directive would strengthen credit score threat governance and require proof of effectiveness improve NPL reporting and disclosure, with month-to-month submissions and public transparency, prohibit additional credit score to strategic or willful defaulters and share their identities with key financial sector oversight our bodies.
As a part of this directive, Dr Asiama mentioned banks would even be required to reveal blacklisted willful defaulters of their audited monetary statements, together with sectoral breakdowns of NPL exposures.
“This added layer of transparency will sharpen each regulatory and investor deal with systemic credit score dangers. These actions are a part of our broader agenda to revive asset high quality, promote sound lending practices, and safeguard the resilience of Ghana’s monetary system,” Dr Asiama said.
The Governor highlighting on measures to strengthen native governance, the Governor mentioned the BoG was getting ready to situation a directive aimed toward strengthening native accountability and board independence in foreign-owned banks working within the nation.
The directive he mentioned addressed issues that crucial credit score and threat choices have been being made by offshore father or mother corporations and merely endorsed by native boards, creating the phantasm of native governance whereas bypassing Ghanaian regulatory oversight.
“Let me state clearly: Ghana-boards should not function rubber stamps for directions issued from offshore. This undermines the very foundation of efficient governance and creates unacceptable regulatory blind spots,” Dr Asiama said.
nology, and one every from Kwame Nkrumah College of Science and Know-how, College of Cape Coast and Ghana Communications Know-how College.
Every awardee will obtain GH¢ 5,000 in the direction of their ultimate 12 months tuition, a pill laptop with six-month free knowledge entry, mentorship by seasoned feminine professionals at Telecel, internships alternatives and precedence consideration for full-time roles.
Sharing her personal journey for instance, Chief Govt of Telecel Ghana, Ms Patricia Obo-Nai, urged the brand new cohort to embrace the various alternatives in Science, Know-how, Engineering, and Arithmetic (STEM).
“I started my journey as an intern, progressed by numerous expertise roles, later transitioned into business operations, and at this time, I’m in administration. Be open to studying new expertise, embrace new challenges, keep curious on the job, and don’t hesitate to ask your mentors questions. Profit from this chance,” she mentioned.
This 12 months, 48 eligible candidates from the associate establishments have been thought of, with 21 advancing to the ultimate interview stage.
Talking on the occasion on the aim and choice technique of the FESSP, Rachael Appenteng, Human Useful resource Director of Telecel Ghana, mentioned that the initiative was very important for the development of STEM and essential for promoting range and inclusion globally.
“Every of you have been chosen due to your expertise and potential. We consider in you, and we’re dedicated to supporting you on this journey. Embrace the opportunity to be taught, and let it encourage you to pave the way in which for the subsequent era of feminine engineers,” she mentioned.
One of many recipients, Megan Nana Aba Welsing, a final-year Pc Engineering scholar on the College of Ghana mentioned she labored in the direction of this achievement, and it feels fulfilling to see her years of finding out rewarded.
“I’m excited to search out my area of interest within the working discipline and develop my tender expertise so I can turn into extra assured and daring by the mentorship and sensible work expertise. Then I can use this expertise to affect different youthful females to pursue careers in STEM,” Ms Weising mentioned.
Madam Christiana, a mom to one of many FESSP recipients, expressed her gratitude for the funding within the younger girls by the mentorship, financial and profession benefits given them.
Since its introduction in 2011, FESSP has so far supported 100 feminine engineering college students from 5 universities, at a time when feminine retention in engineering stays low globally. Based on UNESCO, girls make up simply 16.5 per cent of the engineering workforce worldwide, a determine that shrinks additional in management roles.
BY KINGSLEY ASARE
