On March 16 of this year, the National People’s Congress promulgated the Property Law. The Law expands the range of assets that can be used as collaterals, ensuring that account receivables can be used in pledge financing, which will be of great significance to ease the small- and medium- enterprises financing difficulties and boost economic growth.
Currently, we have a fairly well-diversified banking and financial system, with 26 banks in operation (soon to be 27), half of which are foreign controlled and the remainder Ghanaian controlled. 22. The size of the balance sheet of the banking system continues to expand.