By: Konadu Benedicta
The Regional Coordinator for Caye-West Africa, Bernard Oduro Takyi has reiterated that the collapse of the local banks has given open advantage to the foreign banks.
According to him, some foreign banks like Absa, Zenith and the rest have an advantage on Ghana’s economy.
“So the Barclays, ABSA, Zenith bank, foreign banks, they had an advantage in the Ghanaian economy”, he noted.
Bernard however stated that, the collapse of the local banks has discouraged foreigners and Ghanaians from establishing business in the country.
“What it did is that, it killed the confidence in the Ghanaian economy. So today, if anybody wants to open the bank, the first impression you gather is that, a certain government in the near future will collapse my bank. Who in his right sense will gather money in UK to set up a business in Ghana”, he added.
He added that, Ghana’s poor economy is as a result of the collapse of the local banks.
“It should be the wisdom of any government that, don’t kill your own. The UK government borrows, Americans borrow, but they borrow domestically, from their own banks and their own people. Meanwhile, if the government of Ghana wants to borrow, they borrow from outside the country”, he emphasized.
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