Vice-president IMANI Africa, Bright Simons has revealed that his jaw dropped to the ground upon learning about the juicy credit deals some banks package for their directors in Ghana.
According to Bright Simons when an ordinary man walks into the bank or a financial institution for a loan the officers at the banks quote interest rates between 30% and 60% depending on where their dial falls after keying the data.
In a write-up on X, part of it reads, “But if Directors, the first bastions of corporate governance in any bank, are getting such juicy deals from management, how sure can folks be that they won’t condone what they shouldn’t? That they won’t turn a blind eye to larger-scale underhand dealings”.
“If it is really the central bank’s goal to prevent another 25 billion GHS (or is it 35 billion GHS?) catastrophe, then it better sit up and elevate the game”, he added.
He also revealed that in the aftermath of the recent bank collapse saga, taxpayers were the ones to pick up the bill and that the Bank of Ghana must tighten the rules to make it much harder for such juicy gigs to be given to the Directors of the banks.
See his full post below:
My jaw dropped to the ground upon learning about the juicy credit deals some banks are packaging for their Directors in Ghana.
The reason being that if you, an ordinary Joe, walks into a bank (or similar financial institution) this morning and ask for a loan, the nice officer… pic.twitter.com/WrpzPYjvm5
— Bright Simons (@BBSimons) November 2, 2024
