The Ghanaian banking sector is more stable than it was a few months ago following a process by the Bank of Ghana to improve the governance and liquidity of the country’s commercial lenders.
As part of a two-year Ghanaian banking sector cleanup, banks in the country were given until Dec. 31, 2018 to recapitalize to more than
$81.1 million or risk losing their licenses.
To meet the new capitalization requirements, the successful banks all managed to raise their holdings to at least $81.1 million, according to Bloomberg.
Listen to GHOGH with Jamarlin Martin | Episode 9: Karen Fleshman
Jamarlin talks with Karen Fleshman, founder of Racy Conversations. The lawyer and activist talks about women of privilege exploiting civil rights and diversity movements, and whether Kamala Harris can be trusted on criminal justice reform.
Not all of the lenders met the requirements of the central bank, but two-thirds were able to comply.
The original 34 lenders that started the process were whittled down to 23 well-capitalized and compliant banks through a selection of agreements, mergers, amalgamations, takeovers and license withdrawals, according to Ghanaweb.
Expensive Ghanaian banking Click here to read entire article