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    Ghana’s debt level frustrating businesses, individuals – IEA

    Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

    Volkswagen takes over the responsibility of vehicle assembly in Ghana

    CFAO opens ultra-modern Mercedes Benz showroom

    Govt pays outstanding coupons to individual bondholders

    Inflation drops marginally to 52.8% in February 2023

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

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    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

    BoG directs banks to submit prudential reports on sex-disaggregated basis

    AGM Petroleum Ghana relinquishes South Deep Water Tano block

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    Cyber Security Authority commences licensing and accreditation regime

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    Huawei Equips 500 Traders in FinTech

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    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

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NIB MD laments cost of borrowing for private sector

byEllen Dapaah
June 29, 2022
in Banking And Finance, Top Stories
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The issue of private-sector lending continues to remain a problem as stakeholders in the banking sector have expressed worry about the high cost of borrowing for the actors in the private sector.

Managing Director of the National Investment Bank, Samuel Sarpong, in interaction with Citi Business News, attributed the crowding out of private-sector lending to the high demand for financing by government.

“We look at an economy where interest rates are high. The demand for financing by government is also crowding out some of the money that is available for the private sector nevertheless, the issue is that the best risk in the economy is government borrowing at high rates so obviously, other actors in the economy will have to pay more than what the government pays. The government normally borrows through the treasury bills and bonds and as a result, the current bond rates and treasury bill rates are high and is a challenge for private actors in the economy.”

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Some analysts have blamed the Bank of Ghana and even the banks for the high lending and interest rates in the country.

Others, however, blame the government and its borrowing for it.

Some have even called for a re-evaluation of the pricing model for government short-term bills, saying the high rates they offer are among the reasons the cost of lending is so expensive.

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