{"id":271596,"date":"2016-11-25T11:55:15","date_gmt":"2016-11-25T11:55:15","guid":{"rendered":"http:\/\/citifmonline.com\/?p=271596"},"modified":"2016-11-25T11:55:15","modified_gmt":"2016-11-25T11:55:15","slug":"finatrades-ghc1-billion-debt-wont-collapse-banks-finance-minister","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/11\/finatrades-ghc1-billion-debt-wont-collapse-banks-finance-minister\/","title":{"rendered":"Finatrade’s GHc1 billion debt won\u2019t collapse banks \u2013Finance Minister"},"content":{"rendered":"
The Ministry of Finance has given a strong assurance that Ghana’s banking sector will remain strong and effective despite claims of imminent collapse due to the huge debt owed them by Finatrade, a commodities company.<\/p>\n
The Finatrade Group of companies which specializes in agri-commodities is indebted to about \u00a020 banks to the tune of about GHc1 billion.<\/p>\n
\u201cThey are not going to collapse the banking sector,\u201d said the Minister of Finance, Seth Terkper.<\/p>\n
The amount is said to be almost half of the GHc 2.6 billion stated capital of the entire banking industry.<\/p>\n