Ghana's central bank closes two banks and plans to recapitalise five more

Bank of Ghana
The Bank of Ghana

Ghana’s central bank has closed down another two banks and is planning state-financed recapitalisations of two more in its continuing reform of the country’s financial sector.

The Bank of Ghana has also approved three bank mergers, it announced on January 4, while five banks were being recapitalised with private sector funds. There are now 23 banks operating in Ghana, the central bank said, compared with 35 when Ernest Addison became governor in March 2017.

The central bank set new minimum

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