CEO of Ghana Association of Banks affirms the sector’s commitment to economic recovery

The Chief Executive Officer of the Ghana Association of Banks, John Awuah,  has affirmed the banking sector’s commitment to economic recovery.

Je made this assurance provided that there are no significant risks to the industry.

Speaking at a stakeholders’ engagement on the 2024 budget implementation with bankers, he said  “As banks, as long as it does not unduly impose risks on the industry, we are ever ready to support economic recovery.”

“We understand that as the economy recovers, it creates a sound environment where businesses can thrive, allowing banks to provide the needed support without increasing the impairment risks we are currently facing,” John Awuah added.

His comments came on the back of the support the Finance Minister Dr Mohammed Amin Adam was seeking from banks to consolidate Ghana’s fiscal gains.

“We expect the mid-year budget review to announce measures on how we can promote economic growth.

“Getting the banks to understand and align with our expectations is crucial because they will play a key role in financing private sector participation, which is essential for achieving an accelerated growth rate for the development of our country,” he said.