No Result
View All Result
Monday, March 20, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana’s debt level frustrating businesses, individuals – IEA

    Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

    Volkswagen takes over the responsibility of vehicle assembly in Ghana

    CFAO opens ultra-modern Mercedes Benz showroom

    Govt pays outstanding coupons to individual bondholders

    Inflation drops marginally to 52.8% in February 2023

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

    BoG directs banks to submit prudential reports on sex-disaggregated basis

    AGM Petroleum Ghana relinquishes South Deep Water Tano block

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana’s debt level frustrating businesses, individuals – IEA

    Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

    Volkswagen takes over the responsibility of vehicle assembly in Ghana

    CFAO opens ultra-modern Mercedes Benz showroom

    Govt pays outstanding coupons to individual bondholders

    Inflation drops marginally to 52.8% in February 2023

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

    BoG directs banks to submit prudential reports on sex-disaggregated basis

    AGM Petroleum Ghana relinquishes South Deep Water Tano block

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

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

Peg banks recapitalization at GHS500m to urge mergers-Analyst

bycitibusinessnews
May 8, 2017
in Banking And Finance, Government, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Some financial analysts are not hopeful the reported recapitalization of about 250 million cedis yet to be announced by the Bank of Ghana will cause mergers to reduce the number of banks in the country.

Currently, the capital requirement for banks in the country stands at 120 million cedis.

Some analysts expect the central bank to use the new capital requirement yet to be announced to reduce the growing number of banks in the country.

ADVERTISEMENT

Speaking to Citi Business News on the issue, Financial Analyst and Managing Director of Sam Bed Financial Consult, Mr. Sam Bediako-Asante stated that the central bank should have pegged the figure atGHS 400 toGHS 500 million cedis.

Mr. Bediako-Asante who is an advocate for fewer banks has appealed to the Bank of Ghana to help reduce the number of banks from 33 to 15.

“My view is that at the moment the stated capital is just GHS120 million and even with that the majority of them have not met this figure and the reported GHS250 million will still not be enough,” he said.

Justifying the need to increase the capital requirement above GHS250 million, Mr. Bediako-Asante argued that some of the banks are already above the requirement.

“Some of the banks, about two or three are already above the GHS250million so going a little higher to about 400 million to 500 million will do the trick,” he said.

He stated that the central bank has a perfect opportunity to urge banks in the country to merge if the capital requirement is pegged at GHS500 million.

“Presently, many of them wouldn’t be able to gather that figure and that will force them to merge. The bigger ones will acquire the smaller ones and the economy will grow as a result of that,” he stressed.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

Related Posts

Local Economy

Ghana’s debt level frustrating businesses, individuals – IEA

bycitibusinessnews

The Institute of Economic Affairs (IEA), a public policy think-tank, has described Ghana’s current debt, which is being restructured, as...

Read more

Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

Govt pays outstanding coupons to individual bondholders

Inflation drops marginally to 52.8% in February 2023

Gold for Oil policy will save Ghana $4.8bn annually – Veep

Gold for oil policy to further reduce fuel prices in coming days – Bawumia

Expect your matured coupons within 48hrs – Govt tells bondholders

Next Post
Mr. Raymond Sowah - GCB MD

GCB Bank’s profits rise to GH¢299m

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.