They added that local banks can easily merge in a short time to control a significant portion of the industry. Local banks counter argumentBut making a counter case, the association accused governments of contributing to the low capacity of local banks. The pointed out that the penchants of government giving what they call ‘juicy contracts’ to foreign banks is the bane of local banks. Local banks propose timetablePer their petition, the local banks are pleading with the presidency to extend the deadline to December 31st, 2022. By this, the banks have made proposals to provide 170 million cedis by end of 2018, 220 million cedis by end of 2019, 280 million cedis by end of 2020, 340 million by end of 2021, and 400 million cedis by 2022.

Source: GhanaWeb April 13, 2018 07:30 UTC