I wish cost of credit falls below 10% – Barclays MD

Business News of Monday, 7 August 2017

Source: thebftonline.com

2017-08-07

Managing Director of Barclays Bank Ghana Limited, Patience Akyianu

The Managing Director of Barclays Bank Ghana Limited Mrs. Patience Akyianu has said she looks forward to the day that the cost of credit in Ghana will fall below 10%.

According to her, this could be possible due to the sustained improvement in the macroeconomic fundamentals of the economy.

Delivering the lead sponsor’s remarks at the opening the 2017 Ghana Economic Forum, on the theme: “Building a Ghanaian Owned Economy: 60 years after independence”, the Managing Director of Barclays Bank Mrs. Akyianu said Barclays was ready to lead in ensuring that their clients can raise funding competitively and manage their risk effectively.

“We look forward to the day when ordinary people in Ghana can raise credit at below 10% interest. We will continue to offer products and services that enable individuals achieve their personal and family. We will continue to do transactions that ensure there is power to fuel industries and light up homes so children can do their homework in the evenings without endangering their lives by using candles.

We will continue to play a leading role in developing and deepening the bond and capital markets in Ghana so that you, our clients, can raise funding competitively and manage your risks effectively,” she stated.

Mrs. Akyianu further added that: “the financial services sector’s banks, non-bank financial institutions, insurance companies etc, have a significant role to play in helping to shape the economy.”

This, she said, “is the reason why at Barclays we are proud to say we have played a leading role in the financial services industry in Ghana over the past century and will continue to do so for a long time.”

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