Frank Adu Jnr, Managing Director of CAL Bank, has proposed an increment in the current minimum capital requirement for universal banks from GH¢120million to US$200million, to create larger banks that can undertake big-ticket transactions. This, according to him, would enable banks finance massive infrastructural developments such as airports, bridges, roads, ports and harbours. “I think … Read more
Despite the raging debate as to the fact that there are too many banks in the country, Mike Nyinaku, the Chief Executive Officer of The BEIGE Group, is cautioning that the debate must be put into proper context. Mr. Nyinaku, whose BEIGE Group is in the final stages of acquiring a universal banking license from … Read more
Ghana is a nation of 26million inhabitants, with a Gross Domestic Product (GDP) of almost US$35billion, and a universal bank tally of 35. South Africa is a nation of 55million inhabitants, with a GDP of close to US$400billion, but with a universal bank tally of less than 20. Still, Nigeria is a nation of almost … Read more