- The vice president, Dr. Mahamudu Bawumia, has given assurances to customers of defunct savings and loans companies
- He added that the government has so far paid about GHc13 billion to depositors of banks and other financial institutions
- This follows an earlier directive given by President Akufo-Addo to the ministry of finance and the Bank of Ghana
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The vice president, Dr. Mahamudu Bawumia, says all customers of defunct savings and loans and microfinance companies will be paid their locked up funds in full, including DKM customers who were affected in 2015.
This is the second time a high government official has made the assurance following a directive by President Akufo Addo to the Bank of Ghana and the Ministry of Finance, to provide liquidity for the customers to be paid.
The Private Enterprise Federation (PEF) has however criticized government for not paying the customers despite these directives.
Speaking at a town hall meeting in the Ashanti region, Dr. Bawumia noted that the government has already spent over GHc13 billion in payments to depositors of banks and other financial institutions.
He added that President Akufo-Addo has promised no depositor would lose his investments.
He went on to say that the government is in the process of clearing the mess created by the National Democratic Congress (NDC) in the foreign sector.
In other news, a reporter with American media company, Bloomberg, has ranked Ghana’s economy as one to watch in the near future.
Bloomberg’s reporter, Noah Smith, argued that the country has performed creditably on development metrics and simply needs to break free of dependence on commodities.
The report added that there are key indicators that show a country is becoming a pacesetter.
It listed United Kingdom (UK) as the country that set the tone for change in Europe, Japan as the change-maker in East Asia and possibly Ghana being the country to watch in West Africa.
It has been argued that Ghana has certain advantages in the sub-region with regard to geography, institutions and human capital.
As a country with a coast, Ghana has two ports that are used to ship and receive goods and with over 31 million people.
The country is therefore well-positioned to create a substantial domestic market.
The report goes on to say that Ghana is well branded with regard to essential aspects of a nation’s building process such as quality of governance, freedom and democracy and the ease of doing business.
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