Skip to main content

Banks to build credit profile of borrowers



Bank of Ghana, the regulator of the banking sector has announced that commercial and universal banks in the country will soon be required to build conduct profile of borrowers.
According to the central bank, this formed part of a number of macro-prudential and market conduct regulatory measures to help boost credit to the Small and Medium Scale Enterprises (SMEs).
The First Deputy Governor of the central bank, Dr. Maxwell Opoku-Afari said the move by the central bank is also to foster more competition in the banking sector and in the process help under lending rates.
At a 2-day training workshop organized by the Journalists for Business Advocacy (JBA) in partnership with the Ecobank Ghana held in Accra, Dr. Opoku-Afari said as a result of the measures, banks will be required to develop and publish a clear framework on the risk premium build-up that impacts on an individuals borrower's credit profile.
Apart from this, Dr. Opoku-Afari mentioned that central bank will direct all banks to set aside 2 percent of their primary reserves to support targeted lending to SMEs as part of the Enterprise Credit Scheme announced in the 2020 budget by the Ghana's Finance Minister, Mr. Ken Ofori-Atta. The training is under the theme: 'Understanding Financial Sector Reforms' .
He noted that there is also an avenue to explore the possibility of setting a minimum loan to deposits ratio to ensure that more deposits mobilized by banks are channeled to viable private sector projects.
'The central bank is working closely with the banks to ensure that they do not pass on their operational inefficients and overhead costs to the clients by aligning compensation with overall bank performance,' he added.
The Head of Corporate Affairs at Ecobank Ghana,  Madam Rita Tsegah called on financial journalists in the country to write accurate on financial issues to educate the public. According to her, there are a lot that Ecobank Ghana is doing to bridge the financial illiteracy gap in the country.
'I entreat on you to help champion the financial inclusion among the Ghanaian populates,' she stated.
The President of JBA, Sulaiman Mustapha said the training program started 5 years ago when the group approach Ecobank Ghana to train the financial journalists on effective reporting.
He disclosed that next year is an election year and financial issues will be one of the Centre point for many sectors of the economy, so it is up to the financial journalists to communicate effectively about financial issue to the public.
He said financial reforms taking place in the country needs accurate reporting from those financial journalists who understand the issue to report accurately.
According to him, next year the group will start by training the members before the the general and Parliamentary election campaign starts.
The training is the 5th in series and over ver 200 journalists have benefited from the training between JBA and Ecobank Ghana since it inception.
Story by:
Fred Yaw Sarpong

Comments

Post a Comment

Popular posts from this blog

CIMG holds strategic marketing conference

By: Fred Yaw Sarpong The Chartered Institute of Marketing, Ghana (CIMG)’s annual strategic marketing conference will take place at the Golden Tulip hotel in Accra between October 26 and 27, 2016. The conference is part of the institute’s mission to improve on the performance of marketers, professionals and administrators within corporate Ghana. The theme for the conference; “Democracy and National Cohesion: Marketing a new Political Paradigm.” Mr. Kwabena Akuamoah Agyekum, the Executive Director of CIMG said the conference seeks to promote the CIMG advocacy mission to impact on professional, corporate organizations and officialdom. He mentioned that four resource persons are billed to present papers over the two day event covering very exciting and insightful segments of the theme under the chairmanship of the Marketing Woman for Year 2015, Ms. Maidie Elizabeth Arkutu, Managing Director of Unilever and Dr. Doris Dartey, a Media Consultant. Mr. Agyekum said the speake...
Post a Comment
Read more

Vodafone Ghana gets new CEO

The Board of Directors of Vodafone Ghana have appointed Haris Broumidis as the new Chief Executive Officer (CEO). His appointment took effect from July 15, 2013. Haris Broumidis joined Vodafone in 2002 as the Marketing Director and Enterprise Unit Director in Vodafone Greece and moved on to Vodafone Albania as the CEO in 2007. Under his leadership, Vodafone Albania became the undisputable leader in the telecoms sector. In 2012, he joined Vodafone Group in its h eadquarters, London, as the Commercial Director for Europe. Among several other responsibilities he was tasked with the acceleration and implementation of Vodafone’s commercial priorities in European markets. He brings on board several years of experience and a winning strategy to strengthen Vodafone Ghana’s number two position in Ghana’s telecom market and also make it the undisputed leader for enterprise. Haris Broumidis is from Greece and studied Economics at the University of Athens. He pursued his MBA at the ...
Post a Comment
Read more

Barbering Salons, bridging the unemployment gap in Ghana

By: Fred Yaw Sarpong Barbering business in Ghana is money making venture, depending on the location of the shop. Various barbering shops scattered across the country charges according to the location of the shop. The nature and sustainability of every barbering shop depends on the location of the shop. The location will determine how much one can charge a customer for barbering his or her hair. Checks indicate that some barbering shops located at Spintex, East Legon and Osu Oxford street charges between GHc15.00 and GHc20.00 per hair cut. At South La Estate, it will cost a customer to pay GHc4.00 for hair cut, while one will have to pay GHc3.00 to barber his or her hair at a place like Nima, Maamobi and Mallam Gbawe. Royal Vulture Executive Barbering Salon is one of the biggest barbering salons one can locate within Accra. One is its shops is located at Madina, near Taxi rank while one is located at Accra New Town, near the Post Office. Customers at Madina pay GHc7.00 ...
7 comments
Read more