Founder of the All People’s Congress, Hassan Ayariga
The Founder of the All People’s Congress (APC), Hassan Ayariga, has called out financial institutions in Ghana for sidelining local entrepreneurs in favour of foreign companies.
He argued that the country’s economic development strategy fails to empower Ghanaian businesses.
Speaking on GhanaWeb TV’s BizTech, hosted by Sisl Prempeh, the businessman stated that Ghana is neglecting the growth of its own citizens while supporting foreign corporations that reap greater benefits than indigenous enterprises.
Ayariga urged financial institutions to allocate a fair percentage of their resources to local entrepreneurs to create measurable impact.
“The problem is that we are not building individuals. We are building foreign companies that benefit more than local businessmen. I think the banks should open their wings, open up, and allow young Ghanaian businessmen to thrive,” he said on BizTech.
He added that; “The justification by banks that small and medium-sized enterprises (SMEs) and young entrepreneurs often lack the necessary documentation is just an excuse to deny them loan facilities and support.”
“It is not because SMEs lack the requisite documentation to access loans. It is just an excuse by the banks to deny them loan facilities and support,” Ayariga emphasised.
His comments contribute to growing calls for a financial ecosystem that is more inclusive of local businesses and better aligned with Ghana’s development goals.
SA/MA
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