I hope BOG is properly reviewing the books of Beige, because I know they have a lot of challenges, especially with liquidity. They are currently giving interest rates on their fixed deposits far above the TB rates. Inside Inf ... read full comment
I hope BOG is properly reviewing the books of Beige, because I know they have a lot of challenges, especially with liquidity. They are currently giving interest rates on their fixed deposits far above the TB rates. Inside Infor indicates that they may collapse at anytime if proper actions are not taken.
Manu 7 years ago
I'm surprised Mike has made a U-turn within this short period to be praising BoG after blaming them recently for mingling Savings & Loans with Microfinance and requesting that BoG should let S&L use "SME Bank" so that the "me ... read full comment
I'm surprised Mike has made a U-turn within this short period to be praising BoG after blaming them recently for mingling Savings & Loans with Microfinance and requesting that BoG should let S&L use "SME Bank" so that the "mess" in the microfinance subsector shouldn't affect S&L.
I know BEIGE is having huge luquidity challenges and his stance now sends me a negative signal that he is praising BoG because BEIGE is in similar liquidity crisis as DKM. The modus operandi of BEIGE is similar to that of DKM anyway. It's just a time bomb!.
He should rather focus on liquidity than boasting of BEIGE toxic assets of GhC818m most of which is within related party businesses without any short term cash inflow. BEIGE has overstretched its resources in attempt to build an empire hence currently they can't meet maturing investments without new mobilisation. This is basically a Ponzy Scheme. And I believe we the professionals should be honest to the public and educate them on these matters.
I have performed my duty in this regard. I may be condemned by some people but time will justify the truth
Kudos to the MD of the s&l
I hope BOG is properly reviewing the books of Beige, because I know they have a lot of challenges, especially with liquidity. They are currently giving interest rates on their fixed deposits far above the TB rates. Inside Inf ...
read full comment
I'm surprised Mike has made a U-turn within this short period to be praising BoG after blaming them recently for mingling Savings & Loans with Microfinance and requesting that BoG should let S&L use "SME Bank" so that the "me ...
read full comment
It's the bare truth@ Tony