Consolidated Bank Ghana (CBG) has denied reports that the bank has been sold to a foreign entity. 

There has been reports on social media that the bank has been sold to a “Swiss Front”.

The reports alleged that government has failed to secure parliament’s approval.

Aspects of the false report also urged depositors to go for their funds before the new owner fully takes over.

However, the CBG in a statement issued on September 18, 2024 described the reports as false.

Management of CBG insisted that the Government of Ghana still remains the sole shareholder of the bank.

“These reports are entirely false and misleading”, the statement stressed.

Assurance

According to the bank, it will continue to abide by the banking rules of the country and protect funds and monies of customers.

“We assure customers that their funds are secured with the bank and urge the public to rely on the bank’s official communication channels for any information”.

The bank reassured customers that “there is no concern regarding customer deposits and the bank’s operational integrity”.

It added that it will continue to deliver exceptional customer service and innovative products to the public.

Finance Ministry on the sale

JOYBUSINESS has also engaged officials of the Finance Ministry.

The ministry supervises government’s shares in institutions like CBG.

According to the Ministry of Finance it is not aware of any transactions to dispose off government’s interest to any foreign entity.

Sources close to government have told JOYBUSINESS the report comes as a surprise.