Ato Forson expresses concern over current state of banking in Ghana

Dr Cassiel Ato Forson, the National Democratic Congress (NDC) Minority Leader in Parliament, has called for serious discussion on the financial difficulties local banks are facing and how they could be supported to weather the storm.

“It’s no secret that many of these banks, which are essential to supporting Small and Medium-sized Enterprises (SMEs) in Ghana, are facing severe financial difficulties,” he said in a statement copied to the Ghana News Agency.

Dr Forson, former Deputy Finance Minister under the erstwhile Mahama administration, said the New Patriotic Party-led government had implemented policies that had eroded the capital of most of the local banks, under the Economic Management Team.

That, he said, was having a devastating effect on their ability to lend to businesses, create jobs, and contribute to the growth of the economy.

“I believe it’s time for a serious discussion about how we can support our local banks and help them weather this difficult period,” he said.