{"id":104431,"date":"2025-11-28T04:04:00","date_gmt":"2025-11-28T04:04:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=104431"},"modified":"2025-11-28T04:04:00","modified_gmt":"2025-11-28T04:04:00","slug":"the-money-has-nowhere-to-go-badu-aboagye-pushes-banks-to-drive-private-sector-growth","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=104431","title":{"rendered":"\u2018The money has nowhere to go\u2019 \u2013 Badu Aboagye pushes banks to drive private sector growth"},"content":{"rendered":"
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The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, Mark Badu Aboagye, says banks have run out of excuses not to lend to the private sector.<\/p>\n

He insists that government\u2019s retreat from heavy borrowing leaves them with only one viable path \u2014 to support real businesses.<\/p>\n

Speaking on Joy News\u2019 PM Express Business Edition on Thursday, Badu Aboagye said the country\u2019s economic recovery hinges on strong collaboration between banks and the private sector, stressing that money sitting idle in the financial system benefits no one.<\/p>\n

He argued that credit must begin to flow deliberately and consistently to productive enterprises now that government has stopped absorbing bank liquidity through high-yield Treasury bills.<\/p>\n

\u201cThe development of an economy, for me, is a partnership. So the banks will play their role,\u201d he said.<\/p>\n

According to him, banks no longer have the luxury of making effortless profits by lending to government at high interest rates. That era, he said, is gone.<\/p>\n

\u201cNow that government is not borrowing with the T-bill rate now at 10%, gone are the days when it was 25%, where the banks will take their money, give it to government, go and sleep and make 25% interest and high profit,\u201d he noted.<\/p>\n

He explained that with government stepping back, banks have just one meaningful channel for their capital: Ghanaian businesses.<\/p>\n

\u201cNow that trend is changing. Government is not borrowing, so you have no option but to give it to the private sector,\u201d he said.<\/p>\n

Badu Aboagye added that signs of progress are emerging, noting that credit to the private sector has already begun to rise. He believes this shift must be sustained if Ghana hopes to achieve real economic transformation.<\/p>\n

\u201cWe\u2019ve seen an increase in the credit to the private sector, and I\u2019m sure that it\u2019s going to be sustained. That is where we\u2019ll be able to move our economy forward,\u201d he stressed.<\/p>\n

He further argued that lower interest rates would be a win-win for both banks and businesses. Affordable loans would help companies borrow more confidently and reduce the risk of default.<\/p>\n

\u201cIn fact, if interest rates should come down, businesses are borrowing, and the banks themselves will also do very well. They will make a lot of profit because non-performing loans will also go down,\u201d he said.<\/p>\n

Badu Aboagye concluded with a firm reminder that the Chamber expects banks to stick to their commitments.<\/p>\n

\u201cSo we are holding them to their word. And obviously, we are all here. We will be analysing and assessing,\u201d he said.<\/p>\n<\/p>\n<\/div>\n

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\"\u2018TheThe Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, Mark Badu Aboagye, says banks have run out of excuses not to lend to the private sector.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[319,2093,2092,1883,10,9,1887],"tags":[],"class_list":["post-104431","post","type-post","status-publish","format-standard","hentry","category-economy","category-ghana-national-chamber-of-commerce-and-industry-gncci","category-mark-badu-aboagye","category-national","category-politics","category-popular","category-top-story"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/104431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104431"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/104431\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}