By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    The Asantehene calls for renewed national focus on agriculture and youth involvement in farming.
    Otumfuo calls for agricultural revolution to end food import dependency
    June 13, 2025
    We won’t sideline chiefs in governance – Mahama assures Yaa Naa
    June 13, 2025
    Former NSA official accused of using 9,934 fake service names to obtain loan fraudulently.
    Gifty Oware-Mensah used NSS ghost names as collateral for GH¢30m ADB loan – Ayine
    June 13, 2025
    CLOGSAG to protest for better conditions of service
    CLOGSAG issues ultimatum to government, threatens nationwide strike over salary delays
    June 13, 2025
    Attorney General Dr. Dominic Ayine announcing prosecution of NSS officials in payroll fraud case
    Gifty Oware-Mensah, Mustapha Ussif, 10 others to face trial over GH₵548m NSS scandal – AG
    June 13, 2025
  • Business
    BusinessShow More
    GH¢1/Litre Fuel Levy Critical to Power Sector Recovery – IMF
    June 13, 2025
    Dr Hanna Bisiw-Kotei signs investment agreement at China-Africa Economic Expo
    Dr Bisiw-Kotei secures China deal to create 10,000 jobs in Ghana
    June 13, 2025
    Presidency terminates Zoomlion’s contract over concerns of impropriety and inflated billing
    Mahama to end YEA contract with Zoomlion following Manasseh’s petition
    June 12, 2025
    Caveman Watches launches partnership with Johnnie Walker
    June 12, 2025
    Africa’s top innovators to converge in Accra for Africa Rising Symposium 2025
    June 12, 2025
  • Politics
    PoliticsShow More
    We won’t sideline chiefs in governance – Mahama assures Yaa Naa
    June 13, 2025
    Attorney General Dr. Dominic Ayine announcing prosecution of NSS officials in payroll fraud case
    Gifty Oware-Mensah, Mustapha Ussif, 10 others to face trial over GH₵548m NSS scandal – AG
    June 13, 2025
    Attorney General Dr. Dominic Ayine addresses media on NSA payroll scandal
    NSA Scandal: Over GH₵548m lost through ghost Names – Attorney General
    June 13, 2025
    President Mahama assures Yaa Naa and chiefs of government's full collaboration and respect.
    N/R: Over 5,000 youth to be trained under Apprenticeship Programme – Mahama
    June 13, 2025
    Interior Minister Muntaka swearing in Gaming Commission board to tackle betting issues.
    Interior Minister tasks Gaming Commission to curb underage and irresponsible betting
    June 13, 2025
  • Entertainment
    EntertainmentShow More
    First-ever Ghanaian kids podcast set to launch
    June 12, 2025
    Daniel Clerk speaks on the decline of storytelling in Ghana’s film industry
    Ghanaian movies have lost their soul – Veteran actor Daniel Clerk
    June 11, 2025
    BullGod discusses Baba Sadiq’s post-election future on Starr FM
    Baba Sadiq doesn’t need position to thrive under NDC – BullGod fires at critics
    June 11, 2025
    Miss Tourism Ghana 2024 thrills the world at Miss Orient Tourism Global
    June 10, 2025
    Fresh wave of cultural immersive experiences elevates Ghana’s nightlife
    June 10, 2025
  • Sports
    SportsShow More
    Bola Ray appointed Vice Chairman of President’s Cup Sponsorship Committee
    Bola Ray appointed Vice Chairman of 2025 President’s Cup sponsorship committee
    June 13, 2025
    Kotoko and Hearts set to clash in 2025 President’s Cup on July 6
    June 13, 2025
    Minister of Sports and GHALCA officials inaugurate Sponsorship Committee for 2025 President’s Cup
    Ministry of Sports and GHALCA inaugurate Sponsorship Committee for 2025 President’s Cup
    June 12, 2025
    Ghana Black Queens players during a match under Coach Kim Bjorkegren
    Black Queens drop to 66th in FIFA rankings, now 6th in Africa
    June 12, 2025
    Police Ladies football team to compete in CAF Women’s qualifiers
    Police Ladies to represent Ghana at 2025 WAFU B CAF Women’s Champions League qualifiers
    June 11, 2025
  • Technology
    TechnologyShow More
    AgriTech Challenge Pro showcases potential of the agricultural sector to create jobs for the youth
    May 29, 2025
    Crypto regulation to spur innovation, attract investment
    May 20, 2025
    Ghana Grows Empowers 32 Youth with Skills Training and Business Support
    May 16, 2025
    Real QLED – Samsung’s innovations redefine picture quality standard
    May 14, 2025
    Real QLED TV from Samsung: Mirroring real life
    May 14, 2025
  • International
    InternationalShow More
    President Mahama and UK High Commissioner Harriet Thompson in farewell handshake
    Mahama bids farewell to UK High Commissioner, commends four years of corporation
    June 13, 2025
    Haruna Iddrisu seeks Qatar’s support to establish Islamic medical school in Northern Region
    June 12, 2025
    Ghana Foreign Minister Samuel Okudzeto Ablakwa with Chinese officials at China-Africa Summit
    China grants 0% tariff on all Ghana exports in historic trade agreement
    June 12, 2025
    Interpol Issues Red Notice for Former Finance Minister Ken Ofori-Atta
    June 5, 2025
    Elon Musk Unloads on Trump Following Fallout Over Spending Bill
    June 5, 2025
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: Reset interest rate to accelerate private sector growth – Dr. Kwabena Boamah
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
BusinessHeadlines

Reset interest rate to accelerate private sector growth – Dr. Kwabena Boamah

Starrfm.com.gh By Starrfm.com.gh Published May 15, 2023
Share
SHARE

Managing Director of Stanbic Investment Management Services (SIMS), Dr. Kwabena Boamah, has asked managers of the economy to take advantage of the current economic challenges to reset interest rate to accelerate private sector growth and quicken the recovery of the economy.

Dr. Boamah said this at the 2023 edition of The Money Summit (TMS) in Accra.

Addressing a question on how financial institutions can help the private sector to lead the economic recovery process post the domestic debt exchange programme (DDEP), Dr. Boamah said resetting the interest rate is one of the opportunities in the current economic crisis the country can leverage to spur private sector growth.

He said, “One of the positives, when it comes to these economic crises, is the opportunity to reset the economy as far as interest rates are concerned. It is impossible for the private sector to grow and lead economic recovery when they borrow at a rate upwards of 30%. If we are able to reset the economy in terms of interest rates, banks will be able to fund the private sector and that is one thing we can pick from the current crisis.”

Dr. Kwabena Boamah also assured Ghanaians and businesses that banks in the country are in a position to support the economy despite the very turbulent economic situation they are operating in currently.

Dr. Boamah, in responding to whether or not banks are able to support growth given their performances last year said, “Banks have enough liquidity to support growth and the Bank of Ghana also has enough liquidity support for commercial banks where necessary.

“The key issue is for them to stay focus on what they are doing and ensure that at any point in time, they meet the obligations in terms of customer deposits. If you look at the banks that have published their financials, for example, you will see that their first quarter 2023 figures are showing profits. It’s a positive indication and the trust that the economy will bounce back and this should give all of us some confidence.”

The Money Summit is organized by the Business and Financial Times as a platform that brings together financial and economic minds to deliberate on topical economic issues.

This year’s edition, which was held under the theme ‘Africa’s Robust Financial Sector: The Catalyst for Sustainable Economic Growth’ saw the domestic business community’s highest echelon attempt to make sense of the current economic landscape, and proffer workable solutions and areas for public-private collaboration.

Source: Ghana/Starrfm.com.gh/103.5FM

You Might Also Like

Otumfuo calls for agricultural revolution to end food import dependency

We won’t sideline chiefs in governance – Mahama assures Yaa Naa

Gifty Oware-Mensah used NSS ghost names as collateral for GH¢30m ADB loan – Ayine

CLOGSAG issues ultimatum to government, threatens nationwide strike over salary delays

Gifty Oware-Mensah, Mustapha Ussif, 10 others to face trial over GH₵548m NSS scandal – AG

TAGGED:Dr. Kwabena BoamahStanbic Bank
Share This Article
Facebook Twitter Email Print
Share
Previous Article Stonebwoy celebrates Mother’s Day with widows in Ashaiman
Next Article Banks must collaborate with FinTechs to survive digital age – Marian Amartey

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?