PWC predicts exciting times for Banks in Ghana

The Government says it has taken note of the 2018 Ghana Banking Survey report released by the renowned international audit firm, Pricewaterhouse Coopers (PwC) which predicts good times ahead for the country’s banking sector in 2019.

PwC on Thursday September 13, 2018, released this year’s Ghana Banking Survey report which predicts a boost in the country’s banking sector to be driven by digitization. PwC also predicted a meaningful growth and exciting innovations, basing it arguments on improvement in operational efficiency of banks and increase in earning potential in the wake of recapitalization exercise of the Bank of Ghana. These are all adequately in line with government’s vision of ensuring the growth and sustainability of the financial sector.

As statement released and signed by a deputy Minister for Information, Pius Enam Hadzide said “Government’s implementation of strict banking reforms coupled with strong economic fundamentals and policies to save struggling banks have all contributed to reforms in the banking sector and would translate into the good times ahead.”

Over the weekend, international rating firm Standard and Poor raised the country’s credit ratings from a B- to a stable B, clearly confirming the efforts of the Economic team of the Nana Addo led NPP administration in ensuring a stable economic outlook that balances the country’s robust growth prospects, decreasing inflation, and narrower current account deficits.

“Government will continue to implement policies that will transform the fortunes of the country especially as government works towards achieving an accelerated economic development in line with the Ghana beyond Aid agenda,” the release stated.

 

 

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