Finance Minister Dr Cassiel Ato Forson says government has taken decisive steps to restore confidence and stability in Ghana’s financial sector through the recapitalisation of key banks and measures to strengthen financial institutions.

Presenting the 2026 Mid-Year Budget Review in Parliament, Dr Forson said the government fully recapitalised the National Investment Bank, the Agricultural Development Bank and Consolidated Bank Ghana in July 2025 as part of efforts to stabilise the banking sector.

"Government acted decisively in July 2025 to restore confidence and stability in Ghana's banking sector by fully recapitalising the National Investment Bank, the Agricultural Development Bank, and the Consolidated Bank," he said.

The Finance Minister also announced that the Ghana Amalgamated Trust (GAT) had completed the full recapitalisation of UMB Bank, while Prudential Bank had been fully capitalised through a private sector-led approach.

"Last week, the Ghana Amalgamated Trust, GAT, completed the full recapitalisation of UMB Bank. In addition, the government facilitated the full capitalisation of Prudential Bank through a private sector-led approach," he stated. "UMB and Prudential Bank today stand fully capitalised and primed for business."

He encouraged individuals, businesses and institutions to take advantage of the strengthened financial institutions by engaging with the banks.

The Finance Minister also addressed the impact of the 2023 Domestic Debt Exchange Programme (DDEP) on the Bank of Ghana’s financial position.

He said the debt restructuring exercise significantly affected the central bank’s balance sheet, weakening its capital position and resulting in negative net equity.

"The 2023 Domestic Debt Exchange Programme had a significant adverse impact on the Bank of Ghana's balance sheet, substantially weakening its capital and resulting in a negative net equity position."

Dr Forson said the government and the Bank of Ghana signed a Memorandum of Understanding on January 6, 2025, to gradually recapitalise the central bank and restore its financial strength.

"Consistent with the commitment in the MOU and as a result of this government's resolve to restore the Bank's financial strength, steps are being taken to recapitalise the Bank of Ghana over time."

He said the measures demonstrate the government's commitment to strengthening financial sector resilience and protecting the stability of Ghana’s banking system.