According to the central bank's 2020 annual report, the S&L sector recorded total assets of GH¢5,027.59 million at the end of December 2020. The sector, according to the bank recorded total assets of GH¢6,170.88 million at the end of December 2020, representing a 31.6 percent year-on-year growth. The Non-Performing Loans ratio remained the same as the previous year’s position of 11.5 percent." Finally, in the Microfinance Sector, the total number of licensed Microfinance Institutions (MFIs) stood at 180 at the end of December 2020. MFI’s operating in the country recorded total assets of GH¢895.53 million at the end of December 2020, representing year-on-year growth of 14.3 percent.

Source: GhanaWeb October 01, 2021 10:30 UTC