Deloitte partner proposes industrial finance institution for Ghana

--> Yaw Appiah Lartey, Deloitte Africa’s infrastructure and capital projects leader, proposed creating a specialized financial institution in Ghana to support industrial development and local businesses. He said this at the Africa Oil Week Energy Conference in Accra, MyJoyOnline reports .

According to Lartey, such an institution could provide affordable long-term financing to companies in strategic capital-intensive sectors, including the oil and gas industry, manufacturing and other industries. In his view, this would contribute to the country’s economic transformation.

As an example, he cited Nigeria’s Bank of Industry, which supports industrial development, including in the oil and gas sector. Lartey noted that the institution offers companies and businesses financing at rates of 5% to 7%, and Ghana could adopt a similar model.