The Asantehene, Otumfuo Osei Tutu the second is advising financial service providers to device strategies to boost public confidence to enhance local investment.

He says the rate at which traders continue to keep money in their shops, with the attendant risk, suggests banks and other financial institutions have more work to do.

The Asantehene gave the advice when officials of Ideal Finance paid a called on him at the Manhyia Palace in Kumasi.

His call comes after some traders at the Kumasi Central Market lost huge sums of money in a recent fire outbreak.

Otumfuo advised management of the institution to place a premium on building and maintaining good reputation in view of recent developments in the financial sector.

 He said the current developments where some financial institutions that have taken customers money could not account for them should serve as a lesson for players in the sector to avoid such situations in the future.

According to him, it will require proper planning to avoid falling into such incidents.

 Officials of Ideal Finance were at the Manhyia Palace ahead of the official opening of its first branch this week. 

The company donated 10,000 Ghana cedis to the Otumfour Foundation.

Learn from micro-finance crisis: Asantehene charges financial institutions

Earlier the team visited Komfo Anokye Hospital where it presented 20, thousand Ghana cedis to the Maternity Ward to discharged mothers who are unable to settle their hospital bills.

Dr. Nii Kotei Dzani is Chief Executive Officer explained the rationale behind the donation and said it is their campaign to reduce the hospital’s burden.

“It is economic problem and burden on hospital when patients cannot pay their bills. That is the campaign we want to help solve the challenge in the hospitals”. He said.

Board Chairman, Captain (Rtd) Kojo Butah, sheds some light on the company’s package for the Kumasi market.

 “We have done a lot of job in Accra. But we now want to extend our services to Kumasi to help residents here. That’s why we came to see you”. Captain Butah said.