Business News of Wednesday, 22 May 2019Source: classfmonline.comBanking sector's Q1 growth vindicates clean-up – Akufo-Addoplay videoPresident Nana Addo Dankwa Akufo-AddoPresident Nana Addo Dankwa Akufo-Addo has stated that the decision of his government to reform Ghana’s banking sector has paid off greatly, since, according to him, the growth the sector experienced in the first quarter of 2019 justified the clean-up. "It is the very reason my government placed a lot of emphasis on reforming the banking sector, taking measures we deemed necessary to safeguard the stability and prospects of the economy", the President added. "These measures saved not only the deposits of some one-and-a-half million Ghanaians, their businesses and the people they employ but also minimized job losses in the banking sector," the President said. The President congratulated CalBank for being an indigenous bank that has embraced best practices over the last 30 years to become one of the best-performing companies in Ghana. "The government that I lead will continue to encourage our domestic champions to grow and take significant positions in key sectors of the economy.

Source: GhanaWeb May 22, 2019 13:42 UTC