CEO of the GNCCI, Mark Badu-Aboagye
The CEO of the Ghana Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has stressed the importance of financing the private sector to stimulate economic growth, especially in an environment where borrowing from the government has dominated the financial space.
Speaking on Joy News’ PM Express Business Edition, he stated that banks must conduct a proper risk analysis to ensure their money reaches viable private sector ventures.
“If you want to do proper banking, give money to the private sector. You need to assess their profile, their credit readiness, and their project viability. You follow up, monitor, and get your money back,” Mr Badu-Aboagye stated.
He explained that the current dominance of government borrowing reduces the incentive for banks to lend to the private sector.
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