Examining the Economic Impact and Challenges Associated with Savings & Loans Companies in Ghana

Abstract

The paper strives to empirically examine and deduce the exact contribution of Savings & Loans companies as the micro-financing sector in Ghana’s economy, from the micro to macro aggregate, and further analyze the extent of its economic impacts as against the challenges faced by the sector in the Banking Industry in support of the development of the financial system in Ghana as a complimentary to it economic growth.

Keywords: Savings & Loans, Financial System, Banking Industry Ghana, Micro-financing, Economics