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The Ghana Enterprises Agency (GEA) is a Ghanaian government agency under the Ministry of Trade and Industry. [1] [2] The GEA is mandated by the Ghana Enterprises Agency Act, 2020 (Act 1043) to promote and develop MSMEs in Ghana. [3] It replaced the National Board for Small-Scale Industries (NBSSI).
Whereas banks in Ghana offer high-value, long-term loans, Susu collectors can offer low-value advances or credit in the short term (usually less than a month) that is interest free. If larger sums are required, and they know the client personally, they can offer credit at higher rates than the banks, but without collateral to secure the loan.
The Receivers allege that Directors and shareholders of the bank engaged in illegal transactions by giving out unlawful loans as well as illegal acquisition of assets in the name of related interests. [20] Duffuor has attempted to regain control of the bank by countersuing the Ghana Government alleging the bank had been effectively expropriated.
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [29] The country is also the second-largest cocoa producer (after Ivory Coast). [30] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
The average interest rate on a subprime car loan during the first quarter of 2024 was 18.97 percent for used cars and 12.85 percent for new cars, according to Experian.
The West African gold and cocoa producer is nearing completion of a debt-restructuring process under the G20's Common Framework initiative, after it defaulted on most of its $30 billion ...
It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. [4] NIB was form to promote industrialization of all sectors in the country. It has undergone management and financial restructure to help it attain higher financial levels across the world. [5] NIB is a medium-sized financial services provider in ...
Government-backed loans like FHA, VA, and USDA loans, often touted easier to get, actually have higher denial rates than conventional loans. Government loans do offer lower down payment and credit ...