Ghana: Press focuses on banking sectors' neglect of road contractors

APA-Accra (Ghana)

The Ghanaian press on Thursday focuses on the neglect of the roads sector by the banking sector following the failure of the banks to do more for the construction sector.

The B&FT said banks and other financial institutions in the country have been criticised for their failure to do enough for the road and construction companies in the country.

Mr. Usman Inusah, Chief Executive Officr of Usman Ventures, a local construction firm, is convinced that the country will close its infrastructure deficit in the short-term and spur growth when banks extend more credit to contractors under terms that are not backbreaking.

"The reality is contractors need more support from the banks. The support we are getting is not enough; and in that support, the provision of funds must be done under terms that are flexible, he said.

The Ghanaian Times reports that Senior Minister, Mr. Yaw Osafo Maafo, has expressed concern over GH¢1.3 billion ($250 million) used to import rice on annual basis.

The Daily Graphic said some 55,000 students, who contracted loans from the Ghana Students Loan Trust have refused to repay them, resulting in a debt of GH¢75 million ($14.42 million) to the trust.


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