The Member of Parliament (MP) for Assin Central, Kennedy Agyapong, has called on commercial banks to reduce interest rates to stimulate economic activity. “Interest rates in Ghana are very ridiculous and make it virtually impossible for local businesses to compete favourably with foreign companies,” he said. Mr Agyapong made the call during an engagement with […]
Tag: Development Bank
Devt Bank opens July with initial $500 million capital
The government will launch the Development Bank Ghana (DBG) in July with a seed capital of about $500 million. The bank is seen as Ghana’s best bet to addressing the issue of the lack of long-term and competitively priced credit which has faced the private sector for years. Nearly $250 million out of the initial […]