Business News of Tuesday, 3 December 2019
President Akufo-Addo has assured Ghanaian traders that his administration is working closely with the Bank of Ghana to find a lasting solution to the phenomenon of high-interest rates they are charged by banks in order to access loans to grow their businesses.
Addressing traders, market men and women of Kantamanto, Makola, and Okaishie on day two of his three-day tour of the Greater Accra, President Akufo-Addo, stressed that he is very much aware of the difficulty, however, in a due cause, the issue of high-interest rates will be dealt with.
“The interest rates charged by banks which certainly is not in the interest of traders in our country is a very important issue to me. I have started talking with the Bank of Ghana and the bankers, I am hopeful that in no time, we will have some changes in that regard” the President said.
Locked Up Funds
Touching on the locked up monies of traders in some defunct Microfinance companies which were collapsed by the bank of Ghana earlier in the year, President Akufo-Addo, asked the traders to exercise a little more patience with his government as it works to clear all the debts owed them.
The Minister for Trade and Industry, Alan Kyeremanten, registered his sincere thanks to the traders for receiving the President in such a rousing manner. He underscored the importance of traders in the Ghanaian economy and assured them that the government has been able to repair the poor state of the economy it inherited from the previous administration and they will reap the benefits thereof very soon.
“Some people are out there to say all manner of things to get your minds twisted as far as the issues are concerned. Ignore them and keep faith with President Nana Addo Dankwa Akufo Addo because in a due cause, things will take great shape” the Trade and Industry Minister, Alan Kyeremanten said.