Radio Progress News first radio station in the Upper West Region
The Auditor General’s Report on public accounts has highlighted an issue concerning the poor recovery of loan receivables by the government.
According to the report, a staggering GH¢61 billion remains outstanding, representing 99.93% of the total loan receivables for the year ending December 31, 2023.
The report underscores the importance of effective cash management, particularly the need for well-defined recovery timelines and robust collection plans when granting loans or advances to covered entities.
However, the Auditor General’s review revealed a severe lapse in this area.
Out of a total of GH¢63,384,527,594 in outstanding loan receivables, only GH¢43,450,428.00, or a mere 0.07%, was recovered during the review period.
