Audio By Carbonatix
Britain will expand a programme that sends Bank of England regulators to help emerging economies reform their financial sectors, the government said on Thursday.
Last year, the BoE sent officials to South Africa, Ghana and Sierra Leone, and Britain now plans to expand the programme to up to 30 emerging economies, starting with Senegal and Jordan.
“This is not about consultants parachuting in, this is about patient long-term relationships between expert regulators in Africa and expert regulators in London working together, hopefully over decades,” International Development secretary Rory Stewart told an African investment conference in London.
Britain’s government will give the BoE 6.1 million pounds ($7.9 million) to expand the project, which will have eight core staff and draw on the expertise of 70 London-based technical experts.
During the pilot in Ghana, BoE staff advised Ghanaian colleagues on consolidating its banking sector from 30 weaker banks to 10 more stable ones, and also on how to wind up failing banks and communicate during a financial crisis.
Latest Stories
-
Be careful with cross-border lending, foreign currency exposures – BoG to financial institutions
43 minutes -
GPL 2026/27: Medeama go three clear as Hearts of Oak recover and Bechem stage stunning comeback
52 minutes -
Ntiamoah Foundation launches “BEYOND 20” anniversary campaign
1 hour -
Credit Risk Management Directive: BoG to begin implementation for banks, others from July 1, 2027
1 hour -
Ghana Brands Awards 2026: Leading brands, business trailblazers to shine on November 20
2 hours -
T-bills auction: Demand improves as government exceeds target by about 76%; interest rates soften
2 hours -
Ziope undertakes initiative to build a technologically inclined community, commissions self-help ICT lab
2 hours -
ECG announces power outage in parts of Tema, Central Region due to network fault, maintenance
3 hours -
When the Gospel Becomes a Weapon: The church, blackmail and the abuse of faith
3 hours -
JoyNews’ Jacqueline Ansomah Yeboah selected for UK Media Excellence for Emerging Technologies Fellowship
3 hours -
Mental Health Alliance urges government to operationalise Mental Health Fund
4 hours -
Ghana–Holy See agreement heads to Parliament after Cabinet approval
4 hours -
Luv FM Corporate Games 2026: Kumasi Central Prisons, Amanfiman Bank win big amid fun
4 hours -
WAFU B U17: Ghana top Group A after win over Togo
4 hours -
Ho Central Mosque reopens amid unresolved leadership dispute that led to closure
6 hours