Chief Executive Officer [CEO] of Tentmaker Ghana, Mr. Henry Agyei Asare has strongly admitted the path channeled by the current government on financial institutions will save the country from a lot of dangers.
In a one-on-one discussion on UTV’s ‘Adekye Nsroma’ programme, Mr. Agyei Mensah urged the Bank of Ghana to now descend on Savings and Loan companies as there is a lot of rot going on in that sector that need to be addressed.
“ . . For me our banking sector is getting sanitized and the same procedure must be used to curtail the numerous rots going on in the Savings and Loans sector of the financial system,” he said.
He advised investors to be careful about any investment they intend to make or otherwise seek the services of an investment advisor.
“We must be very mindful that every investment comes along with risk, therefore we must not be interested in the returns or interest alone but also think of the negatives that can unexpectedly happen. Indeed we must ask ourselves a lot of questions before making a move to invest,” he advised.
He lamented that the cause of most suffering banks is as a result of non-performing loans.
He therefore called on the Bank of Ghana to look at working on a directive for financial institutions to follow up on loans than waiting for months when the lenders refuse to comply by the pay-back agreement before they follow up.
Source: Elizabeth Semiheva Bedi/Peacefmonline.com/Ghana
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i pray for the government's intervention with regards to first allied savings and loans ltd which has held on our deposits for 8 months without any proper form of communication with us. government should act now.............
Truely BOG must act swiftly to solve the prevailing canker happening at our savings and loans institutions.For instance First Allied Savings and Loans has been unable to pay their ccustomers close to 8 months and most of their customers are dying out of hunger and depression.Please BOG quickly sanitize our savings and Loans institutions like FIRST ALLIED SAVINGS AND LOANS
I perfectly agree with him on that paaaa, BoG shouldn't wait for the problem to get out of hand before coming out to warn us. BoG must start the clean up exercise now!