The Governor of the Bank of Ghana (BoG), Dr. Abdul-Nashiru Issahaku, has lamented over the high cost of credit in Ghana.
According to him, it is a major problem confronting the banking industry, stating that he has been having sleepless nights over the situation.
“The challenges that confront the Ghanaian industry are well known and the necessary steps are being taken to address them. Some of these challenges include currency instability, access to, and high credit,” said Dr. Issahaku over the weekend at the annual Association of Ghana Industries (AGI) awards.
“I have sleepless nights over high cost of credit and I can assure you that I am working very hard to ensure that the cost of credit comes down,” said the Central Bank governor.
He, however, assured that the BoG will be working hard to ensure a reduction in credit prices to the benefit of all Ghanaians.
The Central Bank, he stated, is mandated to primarily stabilise prices and it can only fulfill that “through a healthy and resilient banking sector.”
“The essence of our work is not really the price stability, but to ensure that industries thrive, businesses thrive for the welfare of all Ghanaians to be improved,” he added.
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(Via: NewsGhana)
