The Bank of Ghana is set to increase the minimum capital of banks from GH¢120 million to GH¢200 by July this year, following extensive engagements with stakeholders in the financial sector. This is to inject more capital into the banks and make them stronger and resilient to undertake big ticket deals both locally and internationally. … Read more
The Bank of Ghana (BoG) has directed banks with minimum capital below industry levels to, as a matter of urgency, submit to the central bank comprehensive recapitalization plans. This is to strengthen the financial sector, enhance the central bank’s supervisory role and put the real economy on a sound footing. The Governor of the BoG, … Read more
The International Monetary Fund (IMF) has asked the Bank of Ghana (BoG) to ensure that banks with minimum capitals below the industry requirement prepare “credible and time-bound recapitalisation plans” that will serve as blueprints to the strict rebasement of their capital reserves. The plans should be in line with the timetable specified in the Banks … Read more