President Akufo-Addo has reiterated calls to the banking industry to reduce their lending rates to enable the private sector access funds to grow their businesses.
He bemoaned the fact that despite the drop in inflation coupled with the reduction in the Policy rate by the Bank of Ghana, lending rates still remain high. He appealed to industry players to complement government’s efforts at moving Ghana beyond aid.
President Akufo-Addo was speaking at the inauguration of the State of the Art new Head Office for the Standard Chartered Bank in Accra.
Governor of the Central Bank, Dr Ernest Addison also expressed optimism that the banks will take steps to meet the minimum capital requirement by the end of the year (2018).