Ayariga slams banks for favouring foreign firms over local entrepreneurs [Video]

He argued that the country’s economic development strategy fails to empower Ghanaian businesses.

Speaking on GhanaWeb TV’s BizTech, hosted by Sisl Prempeh, the businessman stated that Ghana is neglecting the growth of its own citizens while supporting foreign corporations that reap greater benefits than indigenous enterprises.

Ayariga urged financial institutions to allocate a fair percentage of their resources to local entrepreneurs to create measurable impact.

“The problem is that we are not building individuals. We are building foreign companies that benefit more than local businessmen. I think the banks should open their wings, open up, and allow young Ghanaian businessmen to thrive,” he said on BizTech.

He added that; “The justification by banks that small and medium-sized enterprises (SMEs) and young entrepreneurs often lack the necessary documentation …