PHOTO:Elizabeth Ofosu-Adjare, Trades Minister
These headlines aim to capture the essence of the minister’s criticism of banks for neglecting local industries while being concise and attention-grabbing.
Ghana’s Trade, Agribusiness, and Industry Minister, Elizabeth Ofosu-Adjare, has put local banks on notice—step up and finance Ghanaian industries or watch them struggle against global competition!
Appearing on The Point of View with Bernard Avle on Channel One TV, Ofosu-Adjare didn’t hold back, slamming the financial sector for failing to support homegrown businesses. “Finance has been a major challenge. One of the biggest obstacles our industries face is securing adequate funding,” she fumed.
She backed a bold proposal from a banker at the National Economic Dialogue, suggesting that dormant funds sitting at the Bank of Ghana could be turned into soft loans for businesses in key growth sectors. “We should be speaking to the Governor of the Bank of Ghana and the Finance Minister to unlock these funds. Why let money sit idle when it could fuel industry expansion?” she argued.
With Ghanaian industries struggling to compete, Ofosu-Adjare warned that without better financing options, local businesses would continue to be outpaced by foreign competition. “It’s our responsibility to create an enabling environment, but banks must do their part too,” she stressed.
The minister praised the National Economic Dialogue as a critical step in finding real solutions, but the big question remains—will banks listen, or will Ghanaian industries be left to fend for themselves?
About The Author
