The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, is urging commercial banks to leverage the stability in the financial sector to drive economic growth.
Speaking at a meeting with chief executives of banks in Accra, Dr. Asiama emphasised that the gains made in stabilising the banking system must now translate into tangible benefits for the real economy.
He challenged the banks to channel more credit into productive sectors such as agriculture, manufacturing, and infrastructure development, which have the potential to accelerate job creation and improve livelihoods.
“We have worked hard to restore stability in the banking sector. It is now time for that stability to be translated into real economic growth. I am urging our banks to channel more credit into productive sectors of the economy and provide stronger support for SMEs, which remain the engine of job creation,” He said
He also underscored the need for stronger support to small and medium-sized enterprises (SMEs), describing them as the backbone of the Ghanaian economy.
“SMEs are critical to our growth agenda, yet they often face challenges in accessing affordable financing. The banking sector must play a bigger role in bridging this gap,” he stated.
Dr. Asiama assured that the central bank will soon roll out a consolidated set of measures to further strengthen the sector, enhance liquidity management, and promote innovation in financial services.
These policies, he noted, are designed to make the sector more resilient and better positioned to support Ghana’s economic transformation.
The meeting formed part of the central bank’s ongoing engagements with industry stakeholders to align policy objectives with private sector participation in economic development
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