The Bank of Ghana (BoG) has announced plans to divest its remaining shareholdings in the Agricultural Development Bank (ADB) and the National Investment Bank (NIB), a move aimed at reinforcing its independence as the country’s financial sector regulator.
Governor Dr. Johnson Pandit Asiama disclosed the decision while responding to questions after the Monetary Policy Committee (MPC) meeting, stating that the central bank’s Board has approved the disposal of its residual 13 percent stake in ADB, with the transaction expected to be completed before the end of the year.
“We still have some residual shares, about 13 percent, in Agricultural Development Bank. The Bank of Ghana Board has taken the decision that we should dispose of that shareholding. With time, I’m sure later this year that will be done,” Dr. Asiama said.
He added that the BoG would also sell its remaining stake of about one percent in the National Investment Bank.
“In the case of NIB, we still have some residual shares. It’s very small, just around one percent in terms of shareholding. That will also be disposed of,” he noted.
According to the Governor, the decision is intended to eliminate any potential conflict between the central bank’s ownership interests and its supervisory mandate.
“The Bank of Ghana certainly will get out of the space. We are the regulator, and we’ll continue to comment on the latest business and consumer confidence surveys. Dr. Asiama acknowledged a slight decline in sentiment but described the change as the regulator’s in that area,” he said.
