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We have more robust and profitable Banking System – Ken Ofori-Atta

The Finance Minister has been in the Media Space after presenting the “Agenkwa” budget for 2022 in Parliament. In an earlier submission made by the minister with Paul Adom Otchere monitored by Adoanewsonline.com on the State of Banking System in the country “the country have much more robust and profitable banking system which is satisfactory “ says the minister.

“For us to pretend that we do not have much more robust and profitable banking system, we will be lying”.

He disclosed his satisfaction in regards to the current interest rate and other components in the banking system.

“I am quite satisfied with the results in regards to where interest rates are, of results to their [Banking] lending capacity, and of regards to the confidence that the banking system has now to enable support of the YouStart program”.

Speaking on issues of long term money lending at an affordable rate, Finance Minister Ken Ofori Atta iterated that, Government has established a bank that will attract foreign financing at a good rate to enable equip resource to the country. In an interview he said, the Bank [Developing Bank] will essentially be a new institution known as “The Wholesale Bank” [Where the wholesale means the bank is not going to lend directly to people, but rather to financial institutions such as the lending banks, venture banks, capital companies etc].

“It is a channel that will help attract foreign financing and through them at a good rate, it will bring resources to the country in other to feed our private equity” he said.

Source: Adoanewsonline.com

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