2023 non-performing loans in Ghana rise due to public sector worker emigration, impacting loan repayment and MSME support.
Ghana's Savings and Loans Association (GHASALC) identifies emigration of public sector workers as a major driver for increasing non-performing loans in 2023. The exodus of skilled workers significantly impacts loan repayment patterns, despite growth in total assets. GHASALC warns that savings and loan companies may be deviating from their core mission of supporting MSMEs.
July 24, 2024
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