Audio By Carbonatix
The Bank of Ghana (BoG) will dispose of its remaining shareholdings in the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) as part of efforts to reinforce its role strictly as a financial sector regulator, Governor Dr. Johnson Pandit Asiama has announced.
Responding to questions after the Monetary Policy Committee (MPC) meeting, Dr. Asiama disclosed that the Board of the central bank has already approved the sale of its residual stake in ADB, with the transaction expected to be completed later this year.
"In the case of Agricultural Development Bank, we still have some residual shares, about 13 percent. 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," he said.
The Governor added that the central bank also intends to exit its remaining stake in the National Investment Bank.
"In the case of NIB, we still have some residual shares. It's very small, just around 1 percent in terms of shareholding. That will also be disposed of," Dr. Asiama stated.
He stressed that the move is intended to eliminate any perception of conflict between the Bank's ownership interests and its supervisory responsibilities.
"Bank of Ghana certainly will get out of the space. We are the regulator and we'll continue to be the regulator in that area," he said.
On business and consumer confidence, the Governor acknowledged a slight decline in the latest survey results but described the movement as marginal and largely driven by global economic uncertainty.
"The dip we have seen is quite a marginal one, just a small dip. You can even see that it is remaining flat. It hasn't been significant," he explained.
According to Dr. Asiama, the renewed geopolitical tensions and global geopolitical shocks are weighing on sentiment among businesses and households.
"Remember the elephant in the room—the global financial shocks that we're contending with. Yes, it is being felt by local consumers and businesses, so it's not surprising," he noted.
Despite the softer sentiment, the Governor said the bank's assessment, supported by a presentation from the Chartered Institute of Bankers, suggests confidence remains broadly stable and that current changes reflect external developments rather than weakening domestic economic fundamentals.
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