Audio By Carbonatix
The Bank of Ghana has announced that all banks have submitted their recapitalisation plan.
This is ahead of the September 2023 deadline.
The Domestic Debt Exchange Programme (DDEP) has impacted negatively on the banking industry, eroding the capital of some banks.
According to the Governor of the Bank of Ghana, Dr. Ernest Addison, the recapitalisation programme will enhance the operations of the Ghana Financial Stability Fund.
The Ghana Association of Banks had described the BoG’s end-of-September timeline for banks to provide their recapitalisation plans as a prudent decision.
Its Chief Executive Officer, John Awuah, speaking exclusively to Joy Business said the directive was in the best interest of the banks to further aid in improving the banking sector.
According to him, this would also position the banks to support economic growth.
“We all heard from the Governor [Dr. Ernest Addison] just around the time we signed the debt exchange documentation that with the banks they had given us some reliefs on capital and when are we supposed to build up capital”.
Latest Stories
-
Togbe Afede XIV lauds government’s $10bn ‘big push’ programme for boosting farm produce transport
22 minutes -
FDA urges consumers to prioritise safety when purchasing products during festive season
26 minutes -
President Mahama calls for single-digit interest rates on agricultural loans
40 minutes -
President Mahama urges Ghanaians in formal jobs to take up farming
49 minutes -
Farming interventions paying off, lifting incomes and food security, says Agric minister
1 hour -
Gov’t pledges science-backed interventions in agriculture, says Agric minister
1 hour -
Ghana unveils $3.4bn plan to accelerate national clean energy transition
1 hour -
Interior minister urges security agencies to maximise use of new NSB regional command in Ho
1 hour -
Photos: Ghana celebrates 41st National Farmers’ Day
1 hour -
2025 Farmer’s Day: Farmers demand a 2% interest rate on loans to boost farming activities
2 hours -
Chamber of Aquaculture Ghana calls for strong public-private partnerships to unlock finance and transform the sector
2 hours -
Lions celebrate International Volunteer Day with over decades of service and impact
2 hours -
3 dead, dozens injured in Mampong Abuontem head-on collision
2 hours -
MoFFA shuts down several Eastern Region mortuaries over poor sanitation, non-compliance
2 hours -
Domestic violence case: John Odartey Lamptey remanded over alleged brutal assault on wife
3 hours