• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Minimum Capital Requirement: Bank of Africa vows to be recapitalized by January 7

04/01/2019
Reading Time: 2 mins read
bank_of_africa
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

The Bank of Africa (BoA) Ghana Limited says it is “almost” done with the processes needed to meet Bank of Ghana’s GHȻ400 million requirement.

In a statement responding to reports on the status of the bank’s recapitalisation, Bank of Africa, Ghana said it expects to complete the recapitalisation process and receive full approval from the Bank of Ghana on January 7 despite the fact that the Bank of Ghana’s recapitalisation directive, which raised the minimum paid up capital of banks from GHȻ120 million to GHȻ400 million, ended on December 31, 2018.


Ahead of the much-awaited announcement from Bank of Ghana on the banks that have met the GHȻ400 million requirement, the government has announced a GHS2 billion bailout package for some six indigenous banks to enable them to meet the Bank of Ghana’s GH₵400 million minimum capital requirement.


Sources say the GHS2 billion bailout package was hurriedly put together for the six banks, which are seen as well-governed, solvent but unable to meet the BoG’s GHS400 million new minimum capital on their own.

Check the list of banks that have so far met BoG’s GHȻ400 million requirement

Below is the statement from Bank of Africa

BANK OF AFRICA
NEW MINIMUM CAPITALISATIONN
Dear Cherished Customer,

Our attention has been drawn to a news item circulating on various social media platforms on the new minimum capital requirement.

The said news item suggests that BANK OF AFRICA Ghana Limited has no credible “news” on its capitalization plans. This information is incorrect.

BANK OF AFRICA Ghana Limited has almost completed the processes for its full capitalization and expects to complete the process and receive full capitalization by January 7, 2019.

The capitalization processes of BANK OF AFRICA Ghana Limited has been fully communicated to the Bank of Ghana.

We assure you of the soundness of BOA-GHANA and look ahead to a more exciting and fruitful relationship in 2019.

HAPPY NEW YEAR!
Managing Director

ghanatalksbusiness

Previous Post

7 Financial Sector Developments and Trends to Watch in 2019

Next Post

Huawei demotes workers for tweeting from an iPhone

Related Posts

Top banks in Ghana, ghanatalksbusiness.com

Only 11 banks in Ghana are 5-Star rated – CIMG Report

21/10/2021
banking sector in Ghana, ghanatalksbusiness.com

How the 23 Commercial Banks performed in 2020

08/10/2021
banking sector in Ghana, ghanatalksbusiness.com

How to choose a Bank that will be useful to you

06/10/2021
banks in developing countries, www.ghanatalksbusiness.com

Do banks matter in developing countries?

16/09/2021
bank branches

Bank branches will be dead in 5 years

06/07/2021
ransford_sowah

Meet Ransford Sowah the former CEO of the oldest commercial bank in Ghana

05/10/2020
Next Post
huawei-store

Huawei demotes workers for tweeting from an iPhone

GN_bank

Bank of Ghana downgrades GN Bank to Savings and Loans company

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In