The Bank of Africa (BoA) Ghana Limited says it has "almost" completed processes for meeting full capitalisation of ¢400 million and expects to achieve it by January 7.

In a statement signed by the Managing Director, Kobby Andah, he said reports that the Bank has no credible "news" on its capitalisation plans are incorrect.

“The capitalisation processes of Bank of Africa Ghana Limited has been fully communicated to the Bank of Ghana,” he clarified. 

Read the full statement below:

BANK OF AFRICA – NEW MINIMUM CAPITALISATION

Dear Cherished Customer,

Our attention has been drawn to a news item circulating on various social media platforms on the new minimum capital requirement.

The said news item suggests that BANK OF AFRICA Ghana Limited has no credible "news" on its capitalisation plans. This information is incorrect.

BANK OF AFRICA Ghana Limited has almost completed the processes for its full capitalization and expects to complete the process and receive full capitalisation by January 7, 2019.

The capitalisation processes of BANK OF AFRICA Ghana Limited has been fully communicated to the Bank of Ghana.

We assure you of the soundness of BOA-GHANA and look ahead to a more exciting and fruitful relationship in 2019.

HAPPY NEW YEAR!
Managing Director