Financial sector deepening crucial for Africa: ex-Ghana deputy

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Deepening the financial sector is key to fostering growth in Africa, Mahamudu Bawumia, a former deputy governor of the Bank of Ghana, told CentralBanking.com on Thursday.

The argument is the thrust of Bawumia's book, Monetary Policy and Financial Sector Reform in Africa: Ghana's Experience, which he launched on Tuesday. "One of the problems we had [when I was at the central bank] was a disconnect between the policy rate and lending rates. You would have benchmark rates declining, but commercial

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