Bank of Ghana Governor Dr. Johnson Asiama has acknowledged a significant regional disparity in private sector lending, with credit heavily concentrated in Accra. Speaking at the World Bank/IMF Annual Meetings, he pledged to make financing more accessible to businesses outside the capital, particularly those owned by women and youth.
The governor revealed that Ghana’s private sector credit growth is not only shrinking but also the lowest among peer countries. He expressed particular concern about the geographical distribution, which leaves many entrepreneurs in rural areas struggling to secure loans.
“What is clear is that it’s all concentrated around the capital,” Asiama stated, confirming long-standing business community concerns. He attributed part of the caution to high levels of non-performing loans but emphasized that enhancing risk management is a priority.
The central bank plans to collaborate with fiscal authorities to address the imbalance. Asiama believes current macroeconomic stability provides the right conditions for implementing reforms that could create a fairer financial landscape for businesses nationwide.
Source: newsghana.com.gh
