Audio By Carbonatix
Britain will expand a programme that sends Bank of England regulators to help emerging economies reform their financial sectors, the government said on Thursday.
Last year, the BoE sent officials to South Africa, Ghana and Sierra Leone, and Britain now plans to expand the programme to up to 30 emerging economies, starting with Senegal and Jordan.
“This is not about consultants parachuting in, this is about patient long-term relationships between expert regulators in Africa and expert regulators in London working together, hopefully over decades,” International Development secretary Rory Stewart told an African investment conference in London.
Britain’s government will give the BoE 6.1 million pounds ($7.9 million) to expand the project, which will have eight core staff and draw on the expertise of 70 London-based technical experts.
During the pilot in Ghana, BoE staff advised Ghanaian colleagues on consolidating its banking sector from 30 weaker banks to 10 more stable ones, and also on how to wind up failing banks and communicate during a financial crisis.
Latest Stories
-
VAST Ghana calls for nationwide action against cigarette-shaped lollipop
3 minutes -
Germany says Russia behind Leipzig airport drone attack
5 minutes -
NSMQ 2026: Achimota School shatters Adisadel’s semi-final hopes to book penultimate spot
5 minutes -
NSMQ 2026: Bright SHS makes history as first private school to reach semi-finals
19 minutes -
Ghana, Serbia explore deeper cooperation in agriculture
22 minutes -
Woman killed in Times Square stabbing, suspect shot dead by police
22 minutes -
Hull City sign Ansah and close on Norton-Cuffy
26 minutes -
Barcelona complete signing of Arsenal striker Jesus
31 minutes -
Man City agree ÂŁ125m fee for Chelsea’s Fernandez
33 minutes -
Court remands two over alleged possession of narcoticsÂ
35 minutes -
Young Positivist writes : Waste trafficking in GhanaÂ
38 minutes -
JoySports Invitational Tournament 2026: A look back at a day of fitness, fierce competition and fun
39 minutes -
FoSCel urges Ghanaians to know their genotype
44 minutes -
Mahama honours Nkrumah’s role in founding Non-Aligned Movement
56 minutes -
Tanker drivers demand audit and elections, cite poor representation and toll increase
1 hour