Ghana's Struggle with High Loan APRs: A Barrier to Economic Growth
In February 2024, Ghana grappled with soaring annualized percentage rates (APRs) for bank loans, casting a shadow over its economic prospects. The latest report unveiled a harsh reality: industries, households, and Small and Medium Enterprises (SMEs) faced formidable borrowing costs, hindering growth. Industries Under Pressure: With APRs for industries stubbornly…