MD of Gentrec Investments decries Ghana's cashless economy
Managing Director of the country’s leading hire purchase firm, Gentrac Investments, Emmanuel Amevor has decried the country’s financial system which is heavily over reliant on physical cash rather than electronic payment systems.
Mr. Amevor was speaking to e.tv Ghana news on the sidelines of a dinner in Accra to honour its partners for their association with the company, over the years.
He is of the view that more Ghanaian businesses would thrive if payment systems supported repayment arrangement. This he said would reduce cost of running many businesses and give them room for expansion.
Started in 2001, the wholly Ghanaian-owned investment firm has grown and now has separate units that deal with micro finance and transport services which hold brighter prospects for the Gentrac.
The company is to implement what it calls the Gentrac 100 thousand entrepreneurs project which will run concurrently with the entrepreneurs and business development clinic. The project is expected to run for four years and would create 2.5 million direct employments.
Accra, May 17, 2012
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