“Ghana banks are refusing to give me loan to fund my projects”- Cheddar reveals

Ghanaian entrepreneur and founder of the New Force Movement, Nana Kwame Bediako, widely known as Cheddar or Freedom Jacob Caesar, has revealed his struggles in obtaining loans from Ghana’s financial institutions.

Despite owning a multitude of businesses, his loan requests to facilitate his ventures have been refused by several banks, causing a hindrance to his entrepreneurial aspirations.

In a recent interview on Citi TV’s The Point of View, Bediako stated that only one bank initially agreed to his loan request but later collapsed. He credited the World Bank’s International Finance Corporation (IFC) for lending him money for a portion of his building properties, made possible through a partnership.

Bediako lamented the unwillingness of banks to extend loans to business owners, which he believes is detrimental to Ghana’s economy. He also expressed the poor faith international financial institutions have in Africans, constraining their access to loans.

He voiced his doubts over these institutions’ belief in Africa’s potential and the governance that shapes the continent’s economies. In light of his presidential ambitions, Bediako has pledged to instill hope in the youth, stating, “Currently, there’s no hope; that is why we are here.”

About Effah John

John Effah is an accomplishеd writеr and information tеchnology profеssional who is passionatе about crеating compеlling contеnt. Hе has a dеgrее in Information Tеchnology from Kwamе Nkrumah Univеrsity of Sciеncе and Tеchnology (KNUST) and has dеvеlopеd his skills in both tеchnology and writing.