High cost of credit collapsing businesses

Read Comments Comments (8)

• DAN 12 years ago

  5% for 6 year car loan from Ally Bank in usa..

  5% for 6 year car loan from Ally Bank in usa..

  reply
• Mary kumasi 12 years ago

  Government banks imposing high intetest rate on loans is absurd. first it is difficult to qualify for the loan and once the loan is approved the inteterest rate is 25%. Ghanaian leaders have no heart. They are simply demons w ...
  read full comment

  Government banks imposing high intetest rate on loans is absurd. first it is difficult to qualify for the loan and once the loan is approved the inteterest rate is 25%. Ghanaian leaders have no heart. They are simply demons who have taken human forms.

  reply
• AARDVARK 12 years ago

  Unusually for Ghana, the high interest rates are not robbery. BECAUSE of the robbery by the elected politicians and an incredible budgetary overspend the cedi is about to go into freefall. Going in the opposite direction will ...
  read full comment

  Unusually for Ghana, the high interest rates are not robbery. BECAUSE of the robbery by the elected politicians and an incredible budgetary overspend the cedi is about to go into freefall. Going in the opposite direction will be the rate of inflation. The loans will be repaid in near worthless cedis.

  reply
• tegare 12 years ago

  tax incentives to banks? these AGI guys must be idiots. theres no tangible reason for the central bank to allow such high interest rates. we need to change the monetary policy. first start with auditing the central bank,then ...
  read full comment

  tax incentives to banks? these AGI guys must be idiots. theres no tangible reason for the central bank to allow such high interest rates. we need to change the monetary policy. first start with auditing the central bank,then full reserve banking.things will fall into place naturally.

  reply
• samdoug 12 years ago

  It is unfortunate that the government is not interested in the growth of private enterprise except those who support their cause
  The banks should be encouraged to give cheap credits for the private enterprise so that they to ...
  read full comment

  It is unfortunate that the government is not interested in the growth of private enterprise except those who support their cause
  The banks should be encouraged to give cheap credits for the private enterprise so that they too can employ people.When business expands, more hands are needed.
  
  GOD bless our homeland Ghana

  reply
• ERNEST 12 years ago

  YES HIGH COST OF CREDIT IS COLLAPING BUSINESSES,AND THE BANK OUR HAPPY BECOS THAT IS WHERE THEY GET PEOPLES COLATERAL FOR FREE.
  THEY LAZY IN THE BANKS AND EXPECT TO TAKE DEFAULTERS PROPERTY FROM THEM.INSTEAD OF HELPING BUSIN ...
  read full comment

  YES HIGH COST OF CREDIT IS COLLAPING BUSINESSES,AND THE BANK OUR HAPPY BECOS THAT IS WHERE THEY GET PEOPLES COLATERAL FOR FREE.
  THEY LAZY IN THE BANKS AND EXPECT TO TAKE DEFAULTERS PROPERTY FROM THEM.INSTEAD OF HELPING BUSINESSES WITH GENUINE PROBLEMS,THEY RATHER ARRANGED WITH LAWYERS TO STRIPED OF BUSINESS OWNERS OF THEIR HARD EARN PROPERTY.
  NOW IT IS AN OPEN SECRET THAT WITH THIS WATER AND ELECTRICITY CRISIS,MANY COMPANIES THAT HAD GONE IN FOR LOANS WOULD DEFAULT PAYMENT.IMAGINE WHAT A WATER PRODUCTION COMPANY WILL DO.WHAT DO YOU ALSO THINK WILL HAPPEN TO ITS WORKERS?

  reply
• JOHN 12 years ago

  EVEN IN WAR TORN LAIBERIA, BANK GIVES LOANS TO LOCALS IN US DOLLARS WITH AN INTEREST OF 8 TO 12 PERCENT.WHY WOULD N'T FOREIGNERS TAKE OVER OUR COUNTRY.IN ARABS COUNTRIES LOANS OUR TAKING WITH AS LOW AS 5 PERCENT,THEY BRING IT ...
  read full comment

  EVEN IN WAR TORN LAIBERIA, BANK GIVES LOANS TO LOCALS IN US DOLLARS WITH AN INTEREST OF 8 TO 12 PERCENT.WHY WOULD N'T FOREIGNERS TAKE OVER OUR COUNTRY.IN ARABS COUNTRIES LOANS OUR TAKING WITH AS LOW AS 5 PERCENT,THEY BRING IT HERE AND LORD IT OVER US.INFACT OUR RULERS,AND LEADERS ARE WICKED, JEALOUS,ENVIOUS AND ABOVE ALL STUPID.
  THEY PREFER TO HELP FOREIGNERS THAN LOCALS. WHY,BECOS THEY WILL PAY BIG BRIBES.GOD PUNISH THEM ALL.I WISH WE CAN START BOMBING THEM ONE AFTER THE OTHER.ANY BODY PUT IN POSITION WHO CORRUPTS MUST BE BOMBED,TO PUT THE FEAR OF GOD IN THEM.

  reply
• Ashootings 12 years ago

  Interest rates in Ghana are too high for small and big business. I wonder why the national chamber of commerce and other businesses have been silent about this issue for so long!!!

  Interest rates in Ghana are too high for small and big business. I wonder why the national chamber of commerce and other businesses have been silent about this issue for so long!!!

  reply