BoG issues list of licensed banks in Ghana

The Bank of Ghana (BoG) has issued a list of licensed banks in Ghana as of January 2019.

The list includes 23 commercial banks and four representative banks that are based outside the country.

The BoG in accordance with Section 28 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), revised upward the minimum paid-up capital for existing banks and new entrants from GH¢120 million to a new level of GH¢400 million from the effective date of 11th September 2017.

The aim of the recapitalization according to the BoG was to “further develop, strengthen and modernise the financial sector to support the Government’s economic vision and transformational agenda”.