Sanitize Ghana’s Financial Sector

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Ghana Cedi
Ghana Cedi

Advans Ghana Savings and Loans Limited (Advans Ghana) says the Bank of Ghana (BOG) should put in tight measures to sanitize the financial sector.

Ghana Cedi
Ghana Cedi

According the Chief Executive Officer of the savings and loans company the activities of microfinance institutions should be the BOG?s focus.

?Sanitizing the financial sector by improving the control and supervision of micro financial institutions would also be of great benefit to the financial institutions. I believe personally that we don?t need a lot of players within the financial industry.?

Tones of micro finance companies have collapsed over issues with poor management, misapplication of investors fund amongst others.
Speaking to Citi Business News at the sidelines of a Capacity Building Program for 50 SME?s clients, the Chief Executive Officer of Advans Ghana Savings and Loans Limited Brieuc Cardon says BOG should cut down on the number of players in the financial industry.

?The ambition of the country to bankeries or open account for much more customers could be achieved while reducing the number of financial industry to only those who are serious, have strong shareholders and have the capacity to meet all Bank of Ghana requirements.?

The International Finance Corporation (IFC) and Agence Francaise de Development (AFD) has signed an agreement with Advans Ghana Savings & Loans Company to expand access to its Business Edge, training 250 small enterprises on how to effectively run their own businesses.

Under the agreements, the 240 SMEs will be allowed to access world-class management training, run more efficient businesses and improve staff productivity.

Citi Business News has learnt that with the training programme Advans Ghana more robust small and medium enterprises will come up which are critical to creating jobs and generating growth for Ghana.

 

Source: NORVAN ACQUAH HAYFORD

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