Increase support to households, productive sectors of economy … Governor urges banks
BY KINGSLEY ASARE The Bank of Ghana (BoG) has called on banks to translate the country’s improving macroeconomic conditions into increased support for households, small businesses and productive sectors of the economy. He said the Ghanaian economy was showing renewed signs of recovery, with falling inflation, a more stable cedi, improving foreign reserves and stronger … The post Increase support…
The Bank of Ghana has urged financial institutions to provide enhanced support to households, small businesses and productive sectors of the economy as the Ghanaian economy demonstrates signs of recovery. In a post-Monetary Policy Committee (MPC) engagement, Governor Dr Johnson Pandit Asiama emphasized the critical role the banking sector plays in translating economic gains into broader growth and job creation.
While Ghana's economy expanded by 6.4% in the first quarter of 2026, inflation has declined to 4.6% in July 2026, driven by falling food prices and stable exchange rates. The Governor encouraged banks to develop innovative credit solutions for small and medium-sized enterprises (SMEs), particularly those operating in the agricultural sector, which face challenges accessing finance.
He applauded banks for strengthening their balance sheets, noting a 30.7% growth in total banking sector assets and significant improvements in capital adequacy and non-performing loans ratios. Dr Asiama also highlighted the need for banks to explore opportunities in the diaspora investment market and ensure robust monitoring practices to mitigate risks associated with digital lending.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
