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President Akufo-Addo with Mansa Nettey, CEO of Standard Chartered Ghana

He empiric that the development would not accompaniment efforts to accomplish Ghana’s abridgement globally competitive.

The President, who was speaking at the commencement of the arresting new address architectonics of the Standard Chartered (Stanchart) Coffer in Accra on Wednesday, lamented the gap amid crumbling aggrandizement ante and the Coffer of Ghana’s (BoG’s) Monetary Action Rate, on the one hand, and the lending ante actuality answerable by bartering banks, on the other.

He said the gap charge be bridged and challenged the banks to accompaniment the efforts of the government to advance budgetary conduct by bringing bottomward lending rates.

President Akufo-Addo appear that he had been a abiding chump of Stanchart and said “as Mr President’s bank, it will be abundant if Standard Chartered will booty the advance in amount reductions”.

Providing some abstracts to abutment his call, he said although clandestine area lending had bigger from GH¢28.9 billion in November 2016 to GH¢34.4 billion as of June 2018, the accepted boilerplate cyberbanking lending amount of 27.5 per cent was not clandestine area friendly.

He adumbrated that the aftermost 21 months had witnessed a abatement in aggrandizement from 15.4 per cent in 2016 to 11.8 per cent in December 2017 and 9.9 per cent

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