The Ghanaian press on Tuesday focuses on the readiness of the Security and
Exchange Commission (SEC) to clean up the special deposit taking sectors of
the economy, following the revocation of some 23 licences of some micro
finance companies in the country.
The sector’s cleaning exercise will require about $1 billion to help stabilise the
system, which has been crawling on its knee in recent times.
The Business and Financial Times reports on Tuesday that “SEC gets ready to bite”,
saying that, this was after the central bank has announced that it has finished
cleaning the micro finance sector on Friday.
The newspaper says the government has so far spent GH¢12 billion (about $2 billion)
to clean the banking and the micro-finance sectors, resulting in the collapse of nine
banks, 23 micro finance companies and revocation of over 347 licences of some
inactive entities.
The Daily Graphic, for its part, said the embattled Chief Executive Officer of Gold
Dealership Company, Nana Appiah Mensah (NAM1), has appealed to the
government to help him retrieve $39 million funds owed him by a Company in
the United Arab Emirates to help start the repayment of his clients.
The Ghanaian Times, on the other hand, said President Nana Addo Dankwa
Akufo-Addo, on Monday launched the State Interest and Governance Authority
(SIGA) to prosecute board members and chief executives, who flout corporate
governance laws.
DAP/GIK/APA