The Bank of Ghana (BoG) has announced that in line with the guideline on the Revised Microfinance Sector Framework, 2026, the Rural Banking Sector has been converted to Community Banking Sector. By this, existing Rural Banks have therefore become Community Banks.

“As part of their transformation, the banks are required to complete all statutory name changes, corporate rebranding, and other regulatory alignments by end-December 2026”, a statement released by BoG on June 17, 2026 said.

According to the BoG, the conversion represents a strategic milestone under the ongoing microfinance sector reform and is intended to usher in a new phase of community-level financial intermediation.

It said the conversion also coincides with the 50th anniversary of the establishment of rural banking in Ghana, providing a timely moment to transition the subsector into its next chapter.

“Rural Banking was initiated in 1976 by the Government and the Bank of Ghana to expand access to financial services in rural communities and integrate them into the national financial system”.

The BoG said over the past five decades, the subsector has become a core pillar of the banking industry and national financial inclusion efforts.

The statement said the subsector currently comprises 147 licensed institutions, with about 1,000 branch networks nationwide, and serving over eight (8) million customers.

“Its growth and impact reflect a combination of sustained policy support, a development-oriented regulatory approach, and a unique synergy derived from shared community ownership and customer base”.

“Through this conversion, the Bank of Ghana is repositioning the Community Banking sector as a modern banking segment to deepen inclusive finance in both rural and urban communities and integrate them into the national financial architecture” the statement ended.