No Result
View All Result
Saturday, August 13, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories
    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport
    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories
    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport
    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

New minimum capital for banks pegged at GH¢200-260m

bycitibusinessnews
May 2, 2017
in Banking And Finance, Government, Local Economy, Top Stories
Dr. Ernest Addison, Governor of the Bank of Ghana

Dr. Ernest Addison, Governor of the Bank of Ghana

Share on FacebookShare on TwitterShare on Whatsapp

Citi Business News has learnt that commercial banks in Ghana would have to increase their minimum capital for operation to at least 200 million cedis.

This follows the revision of the minimum capital requirement by the Bank of Ghana.

The new figure will represent close to a hundred percent increase in the current minimum capital requirement of 120 million cedis.

ADVERTISEMENT

Some financial analysts have cited the development as partly contributing to the increased number of banks despite the country’s relative small population.

They however believe that the revision should result in mergers and allow the banks undertake huge capital intensive deals.

The Managing Director of Zenith Bank, Henry Oroh explained to Citi Business News the central bank’s projected 260 million cedis should also deepen the financial sector.

“The regulator has put forward about 260 million cedis. I think the minimum capital resetting was done deliberately by the government and the central bank to create bigger banks in the economy. We have a lot of banks that have very little capital and when your capital is very little, there is very little that you can do and when there are shocks, you’ll have some problems,” Mr. Oroh told Citi Business News.

Meanwhile the Managing Director of CAL Bank, Frank Adu Junior in a recent interview projected a minimum capital requirement of at least 200 million cedis to equip banks with the capacity to meet huge financial commitments.

“We need the strength and financial muscle to do the business of this country…if Goldfields, Golden Star, etc can raise about 1.3 billion to invest in a gold mine, don’t you think we could have private sector banks and companies taking up contracts to build harbours and runways?”

“Why shouldn’t we encourage the private sector to undertake these and take the burden off the government?” he further queried.

Banks submit documents for assessment

The Governor of the Bank of Ghana, Dr. Ernest Addison, last week told the Head of Business Desk at Citi FM, Vivian Kai Lokko in Washington that banks have submitted their reports for assessment.

According to him, the reports should help in determining the minimum capital requirement for the banks.

“The Bank of Ghana has written to them to submit recapitalization plans. We are waiting to look at those recapitalization plans. It has to be credible. We are hoping that in the next few weeks on the basis of their report that they submit, some decisions would have to be taken,” he hinted.

Banking Consultant urges economic capital requirement

In light of discussions in reviewing the minimum capital requirement of banks, Banking Consultant, Nana Otuo Acheampong has impressed on the Bank of Ghana to consider an economic capital requirement for universal commercial banks in Ghana rather than the regulatory minimum capital requirement.

The economic capital requirement, according to Nana Otuo Acheampong, will allow the banks the choice to either remain a small bank or grow to become a bigger bank which allows them opportunity to participate in multimillion dollar transactions.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Related Posts

Assistant Director, Fintech and Innovation, BoG, Clarence Blay
Banking And Finance

E-cedi will not affect MoMo business – Bank of Ghana

byEllen Dapaah

The Bank of Ghana has assured that its quest to implement the digital currency, also known as the e-cedi, will...

Read more

Farmers worried about possible unfair distribution of MoFA machines

Bank of Ghana to widen its scope on cryptocurrency

Importers, Exporters Association calls for sympathy for Labianca following corruption claims

Our cars to sell for cheaper soon- locally assembled automobile companies

BoG Deputy Governor chairs advisory board of UG’s College of Humanities

Ghana’s inflation rate rises again; hits 31.7% in July 2022

Next Post

Article: Impact of policy rate on Ghana's interest rates

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.