The atmosphere was one of transparency and resolve as Elizabeth Ofosu-Adjare, Ghana’s Minister of Trade, Agribusiness and Industry, addressed the nation during the Government Accountability Series on Wednesday, January 21.
At the heart of her address was a significant development in the country’s efforts to tighten financial oversight and ensure the prudent use of state resources: the recovery of GH¢107 million in loan repayments and a fresh investigation into questionable loan disbursements by the Ghana EXIM Bank.
Standing at the podium, Minister Ofosu-Adjare outlined the government’s multi-pronged approach to strengthening the credit system. She explained that, in 2025, Ghana EXIM Bank disbursed a total of GH¢304 million in loans under a stringent new policy. “This is not money for the boys or money for the girls,” she emphasized, underscoring the seriousness with which her ministry now approached credit creation. “You must satisfy requirements. You must show the credit you are taking will benefit the economy, and above all, you must demonstrate your ability to repay.”
Her remarks reflected a shift toward greater accountability in public lending. The Bank’s stricter credit policy was already bearing fruit: GH¢107 million had been successfully recovered from loans that had long gone unpaid. “Recovery efforts on legacy loans are ongoing,” she continued. “We have initiated legal proceedings on several cases, and others have been referred to the appropriate security agencies for further action.”
But even as the government celebrated these achievements, the Minister did not shy away from ongoing challenges. She revealed that some loan disbursements remained shrouded in mystery, with officials unable to account for how the funds had been issued or used. These cases, she said, had been swiftly referred to security agencies for thorough investigation.
“There are loans that we do not know how they were disbursed,” Ofosu-Adjare admitted candidly. “We have referred them to the appropriate quarters to be dealt with expeditiously.”
The Minister’s address was a clear signal that, under her watch, financial stewardship would not be taken lightly. With GH¢107 million recovered and further investigations underway, the government was not only reclaiming lost funds but also restoring public confidence in Ghana’s financial institutions.
As the session concluded, observers noted a renewed sense of accountability—a promise that every cedi lent by the state must serve the nation’s interest, and that those who violate this trust will face the full scrutiny of the law.
Source: Apexnewsgh.com
