State-Owned enterprises to transact more with state banks – Deputy Finance Minister
Mr. Thomas Nyarko-Ampem, the Deputy Minister of Finance, has reaffirmed government’s commitment to strengthening state-owned financial institutions, announcing that state-owned enterprises (SOEs) and covered entities will be required to transact more with state banks such as GCB Bank PLC.
He said the move, directed by government as majority shareholder, was not to exclude private banks but to reinforce the capacity of national institutions to better support development priorities, including financing Micro, Small and Medium Enterprises (MSMEs).
“This is not about pushing out private banks,” Mr. Nyarko-Ampem explained.
“It is about building our own banks strong enough to finance national priorities, especially MSMEs, which are the backbone of our economy.”
The Deputy Minister wa...