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The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016.
In September, 2013 Capital Bank was the non-bank financial institution of the year 2012 by the Chartered Institute of Marketing Ghana. In October, 2013 Capital Bank was the 10th best performing company for the year 2012 and the best in the Non-Bank Financial Institutions sector at the Ghana Club 100 Awards organized by the Ghana Investment ...
According to the Overseas Development Institute, [2] the banking sector in Ghana is made up of the central bank, eight commercial banks, three development banks, three merchant banks and 133 rural banks. With the exception of the rural banks, their distribution is weighted towards urban areas, and towards the south.
Ernest Addison is the Governor of the Bank of Ghana. In June 2021, he announced the development of the E-Cedi. CBDC currencies are digital currencies that digitize a country's fiat currency. Electronic tokens backed by the Ghana government will replace coin minting or printing paper notes. [1] [2] [3] [4]
Aimed primarily at enabling Ghana to repay its foreign debts, the ERP exemplified the structural adjustment policies formulated by international banking and donor institutions in the 1980s. [1] The program emphasized the promotion of the export sector and an enforced fiscal stringency, which together aimed to eradicate budget deficits.
Rural banks were first established in Ghana in 1976 to provide banking services, provide credit to small-scale farmers and businesses and support development projects, with the first being in Agona Nyakrom in Central Region. [1] [2] [3] The banks are locally owned and managed. [4] By 2002 115 rural banks had been established. [5]
Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as Société Générale - Social Security Bank (SG-SSB). The bank is part of the Société Générale banking group. The bank is based in Accra and its stock is listed on the Ghana Stock Exchange. It is a component of the GSE All-Share Index. According to its ...
The original Bank of Ghana Ordinance (No.34) of 1957 was replaced by the Bank of Ghana Act (1963), Act 182, which was later amended by the Bank of Ghana (Amendment Act) 1965, (Act 282). Eventually, the Bank of Ghana Law, 1992 PNDCL 291, consolidated the legal framework for the bank by repealing both Acts 182 and 282. [6] [5]