Falling interest rates to boost private sector growth

Falling interest rates to boost private sector growth – Alhassan Andani

A former president of the Ghana Association of Banks, Alhassan Andani, has described the falling spree of interest rates as welcoming, saying it will help boost private sector growth.

This comes after the rates rates fell once again as government Treasury bills were oversubscribed by about 40.3% to the tune of ¢3.89 billion.

Speaking to Joy Business at the Maxwell Investment Group Business Forum, Mr. Andani said this is key to support the private sector through scaling back lending rates to aid businesses access credit from banks.

This means improvement because it will reduce the aggregate lending rates. For me, the interest rate coming down is just a natural thing and this is welcoming”.

“The usual rate of 35% was a problem and I think the downward trend is very good”, he added.

Speaking at the event, Chief Executive Officer for the Maxwell Investment Group, Maxwell Ampofo entreated young people to explore various opportunities in their quest to start their businesses.

As young people. I think it’s necessary for us to try as much as possible to leverage other opportunities in creating our businesses”, he stated

The MIG Business Forum aims to engage key players cutting across various sectors and the general populace in a solution-oriented approach to support businesses.

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