Business News of Wednesday, 22 January 2020Source: Graphic.com.ghAfter losing $2.3 billion at UBS, Kweku Adoboli now seeks redemption in Ghanaian bondsFormer UBS Group AG trader, Kweku AdoboliFormer UBS Group AG trader, Kweku Adoboli, fought to avoid deportation from the U.K. to the nation of his birth after his conviction for a $2.3 billion loss at the Swiss bank. Now, he is seeking a comeback in Ghana with a plan to kick-start its mortgage-backed bond market. Nowadays, Adoboli speaks -albeit in a British accent- like he never set foot out of Ghana as he talks about the gaps in the country’s mortgage-financing market. Rapid GrowthThe value of home loans increased almost 10% in the nine months through September to 4.5 billion cedis ($796 million). “The long-term goal is to make a sustainable platform that will grow the economy,” Adoboli said.

Source: GhanaWeb January 22, 2020 11:52 UTC