Tag: Dr. Lord Mensah
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Mitigate impact of microfinance companies clean-up on informal sector — Dr. Lord Mensah
Senior lecturer of the Department of Finance at the University of Ghana Business School, Dr. Lord Mensah, has called on the Bank of Ghana to as a matter of urgency put in place measures to ensure the recent clean up of the microfinance does not put a strain on the informal sector. According to Financial…
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Gov’t can’t pay full principal and interest to Microfinance customers – Financial Economist
A Financial Economist Dr, Lord Mensah has expressed doubt about the ability of the receiver of the now defunct 347 microfinance companies, to be able to pay all the affected depositors their full principals in addition to their interests. The Bank of Ghana (BoG) had earlier indicated that it had secured about one GHC 1 billion to…
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Menzgold customers do not need compensation – Dr. Lord Mensah
Economist, Dr. Lord Mensah has kicked against any form of compensation for embattled customers of gold dealership company, Menzgold. He explains that such a support is likely to encourage other forms of financial activities that breach the country’s financial laws. Dr. Lord Mensah’s comments come in the wake of recent calls by customers of Menzgold to…
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Avoid hasty tax policies with rebased economy – Economist
Economist, Dr. Lord Mensah has called for a count by count assessment of all sectors of the economy before undertaking any tax reform following the rebasing of the economy. According to him, such a move will make up for the shortfall in revenue generation. The Ghana Statistical Service recently announced that the economy had expanded…
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Classify $2bn bauxite barter deal as a loan – Dr. Lord Mensah
Economist Dr. Lord Mensah has backed calls seeking that Ghana’s $2bn bauxite agreement with China, be classified as a loan. His view follows the Minority in Parliament’s move to petition the International Monetary Fund (IMF) on the matter. The side is seeking that the Fund determines to decide whether the 2 billion dollar Chinese deal…
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Compliance level for banks’ recapitalisation risky – Economist
Economist, Dr. Lord Mensah has described as quite disappointing, the number of banks that are yet to meet the minimum capital requirement. According to him, the development shows how most of the banks are struggling to meet the deadline by end of year [2018]. “It is quite disappointing because banking operations is basically sourcing for…
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Gov’t, poor credit practices cause of high NPLs – Economists
Some Economists have attributed the continuous rise in Non-Performing Loans (NPLs) in the banking sector to poor credit risk practices on the part of banks. In their opinion, credit to businesses in the country will continue to be high if the banks fail to do due diligence when giving out credit. The comments follow the…
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PFMA to tame excess borrowing – Economist
Some Economists have told Citi Business News they expect the Public Financial Management Act (PFMA) to restrict government’s future borrowing to specific needs. According to Lecturer at the University of Ghana Business School, Dr. Lord Mensah, this should regulate spending and avoid budget overruns. The comment follows the formulation of regulations to guide the implementation…
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‘Reduced’ policy rate not good for businesses – Economist
Economist, Dr. Lord Mensah has ruled out an immediate reaction from commercial banks following the reduction of the policy rate. Though he has lauded the Bank of Ghana (BoG)’s decision to reduce the rate, he describes the figure as marginal. According to Dr. Lord Mensah, businesses must therefore be guarded in their expectations of a…
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MPC announces policy rate today
The Monetary Policy Committee (MPC) of the Bank of Ghana will announce its policy rate today as it concludes its 72nd regular meeting for this year. Today (Monday)’s media briefing on the policy rate which will be addressed by the Governor of the central bank, Dr. Abdul Nasir Issahaku, is among other things expected to…