• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Ghana needs more specialized banks – Economist

4 years ago
in Banking & Finance, highlights, Home, home-news, latest News
2 min read
0 0
0
Banks in Ghana - norvanreports

Banks in Ghana - norvanreports

107
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana needs more specialized banks – Economist

Mr Samuel Worlanyo Mensah, an Economist and Executive Director of Centre for Greater Impact Africa, says the country needed more specialized banks to support the various sectors of the economy.

“At the stage we find ourselves now as a country, we need to have banks that are purposely for industrialization, agriculture, pharmaceutical, building the technical development, building local technology and others in a national development plan,” Rev. Dr Mensah stated.

He was speaking at a seminar organized by the Ghana News Agency for state and non-state actors to address national issues.

Rev. Dr Mensah said the lack of a strong national development plan for the country contributed to the recent economic crisis.

He said the government needed to support industrialization and productivity by creating an enabling environment for the local people to be well established to compete in the global market.

The Economist said most of the local entrepreneurs depended on the banks for capital and other financial assistance hence the need for the specialized banks to support the various sectors.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Read: 2022 budget is to please investors, rating agencies – Prof Bokpin

He said the government must plan in a way that in the next ten to 15 years, it would raise solid entrepreneurs who could support the economy.

Rev. Dr Mensah explained that the banking and financial sector cleaning exercise was laudable at the time it was undertaken but unfortunately COVID-19 pandemic had revealed that the decision was not economically motivated.

“At the end of the day, most of the local banks have collapsed because they were not able to raise the minimum capital requirement while others had also engaged in other cooperate social responsibility.

“So the government could have created a module to shape their operations and assist them to be able to grow to the international standard,” Rev. Dr Mensah added.

He said most of the banks were not ready to help local entrepreneurs to stand on their feet.

He said most of the small businesses had been left stranded because financial institutions that supported them were dissolved.

Source: GNA
Tags: entrepreneursGhana needs more specialized banks - Economistspecialized banks
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.