The Chief Executive Officer of Advans Ghana Savings and Loans Limited, Brieuc Cardon has taken a swipe at the Lands Commission over the delays in issuing proper documentation on land titles and registration.
According to him, the issue has contributed to the unwillingness of many financial institutions to finance projects.
Mr. Cardon in an interview with Citi Business News further argued that investments for businesses would continue to dwindle if the complicated issues relating to land ownership in Ghana are not critically looked at.
“The reality is the lack of organization and the difficulty in registering a land; most of our clients even if they have assets like land, they cannot use it to cover a loan. For the business that we do, an improvement in anything concerning land registration and mortgage system will support financial institutions to do what they have to do in financing businesses,” he stated.
Mr. Cardon therefore suggested financial institutions could not be blamed for the systemic challenge of lack of access to funds confronting most SME’s in the country.
“So it should be easier for Ghanaians or business owners to access or register their lands, if that would work then I believe there would be major improvement in the capacity of the financial sector to finance businesses, particularly the SMEs.”
Meanwhile the company has launched its new product, “The School Development Loan”.
The School Development Loan product is to assist private Basic and Senior High Schools who wish to expand their infrastructure.
The product also follows a research by Advans Ghana which revealed that most basic schools in Ghana lacked funding to support their infrastructural development.
By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana