Boost productive-sector lending – BoG

The Bank of Ghana (BoG) has urged banks to channel the benefits of easing financial conditions and stronger credit growth towards increased financing for Ghana’s productive sectors.

The central bank is particularly calling for greater access to finance for small and medium-sized enterprises (SMEs) and businesses operating across agricultural value chains.

The call comes against the backdrop of improving financial conditions and stronger credit growth. According to the BoG, banks should ensure that these developments translate into increased financing for businesses and sectors that contribute directly to productive economic activity.

Greater lending to SMEs and agricultural value chains is expected to support businesses as they seek financing for their operations and growth.

The BoG’s position reinforces the need for financial institutions to ensure that improving credit conditions translate into real financing opportunities for businesses, particularly those operating within productive sectors of the economy.

Source: The Business & Financial Times (B&FT)

Read more here: B&FT – Boost productive-sector lending – BoG