News:
August 17, 2017
Deputy Northern regional Minister and Member of Parliament for Bunkpurugu, Solomon Namlit Boar has urged the Ghana Venture Capital Trust Fund to ensure that due diligence is done before loans are granted.
He expressed concern about the fund’s penchant for giving out loans without due diligence which has resulted in so much indebtedness to it.
Several individuals and institutions are indebted to the Fund without proper documentation as proof to ensure recovery.
This came to light when management of the Trust appeared before the Public Accounts Committee of Parliament to respond to queries raised in the 2015 Auditor General`s report.
Mr Boar who is a member of the Committee urged management of the Fund to institute very stringent new measures to curb future occurrence of dishing out loans without supporting documentation.
By Christian Kpesese/ ghanamps.com