Deputy Minister-designate for Food and Agriculture, John Dumelo, has stated that Ghana needs more substantial financial institutions to strengthen its economy.
Speaking during his vetting before Parliament’s Appointments Committee on Tuesday, February 25, Dumelo emphasized the need for critical economic reforms, including job creation, to revitalize the nation’s economy.
Despite the presence of microfinance institutions supporting business growth and employment, he argued that they are insufficient. “With the kind of economy that we have, all these are not enough; we still need more,” he said.
He also highlighted the proposed establishment of the Women’s Bank by the NDC administration as a significant step toward empowering women economically. “… has agreed to establish the women banking to be able to lend money to women at a relative lower rate so that they can expand their businesses, they can create more businesses, and create more jobs for the economy.”
