Ofori Atta Satisfied With Collapsed Banks

Hon. Ken Ofori Atta, Minister of Finance, says he is pleased with the overall outcome of the decision to merge several of the country’s struggling banks.

Local banks, he claims, “are now stronger and more resilient than they were previously”
“Anyone who claims that the country’s financial industry isn’t substantially stronger and more robust is mistaken”, he argues.
He went on to say that the choice to merge the failing banks was lucrative and that it had restored confidence.

Hon. Ken Ofori Atta speaking in an interview with Paul Adom Okyere on Metro TV stated that the government has established the Development Bank of Ghana to engage in wholesale banking and provide financial assistance to Ghanaian banks.

“Development Bank of Ghana will not lend money to individuals; rather, it will lend money to financial institutions, which will then lend money to individuals to start enterprises” he added.

According to the Finance Minister, African Development Bank, KSW, EIB, and the World Bank all contributed to the Ghana Development Bank, according to Ken Ofori Atta. He believes that as a government, you must develop innovative ways to raise funds for programs.

Source: Priscilla Fordjour

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