The Financial sector has been on the discussion table for quite some time now. An action that began on the 14th of August, 2017 set off a chain of events that has culminated in the revocation of a number of licenses of financial institutions in the sector.
A new set of measures and reforms were also announced from the regulators of the industry particularly the Bank of Ghana. On the 16th of August 2019, the Bank of Ghana revoked the licenses of 23 savings and loans companies and finance houses.
The regulator argues this completes reforms in the Banks and Specialized deposit-taking institutions. But there are a number of issues that need immediate attention.
What are these issues? What can we do about the way forward? Philip Nanfuri and his guests, CEO of Private Enterprise Federation (PEF), Nana Osei Bonsu, Executive Secretary of the Ghana Association of Savings and Loans companies (GHASALC), Tweneboah Koduah Boakye and Executive Secretary of the Association of Finance Houses, Kokui Adu sift through the noise and make us better-informed on the Business Edition of PM EXPRESS on Joy News.