Pulse.com.gh logo

Bank of Ghana BoG to renounce its ownership of two banks

The first Deputy Governor of BoG Millison Narh said they were taking this step to prevent the BoG from being partial in its supervisory role system.

  • Published:

Join the "kokonsa" clique.Don't miss a thing, get the latest updates to fuel your conversation daily

By signing up , you agree to our Privacy Policy and European users agree to the data transfer policy

Thank You! You have successfully subscribed to receive pulse.com.gh daily newsletter.

The Bank of Ghana (BoG) has revealed that it will give out its shares in two banks in the country.

The two banks are National Investment Bank (NIB) and Agricultural Development Bank (ADB).

According to the Ghanaian Times, the first Deputy Governor of BoG Millison Narh said this at a roundtable discussion with the State Owned Enterprises (SOEs) and institutional investors in Accra.

READ ALSO: Monetary Policy Rate maintained for fourth consecutive month

“To start with the BoG is seeking to transfer its shares in the National Investment Bank, to the Government of Ghana, who will then become majority shareholders. The government will then transfer ownership through strategic investors to inject capital and improve efficiency in the bank.”

Currently, the BoG holds 44.06 and 48.17 per cent shares in National Investment Bank (NIB) and Agricultural Development Band (ADB) respectively.

READ ALSO: BOG releases list of accredited microfinance companies

He said this was to prevent the BoG from being partial in its supervisory role system based on new laws that are being passed.

He also mentioned that the Central Bank is implementing a number of reforms to help build a better banking system in the country.

“In addition to these, the BoG has proposed an increment to the minimum capital base for all banks to improve on their core functions of financial intermediation.”

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 George Quaye’s resignation and the deepening woes of Menzgoldbullet
2 Gov't postpones start of NABCO programme for the second timebullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Gov’t shouldn’t compensate ‘Ponzi scheme’ victims -Kofi Bentilbullet
5 How to create a verified PayPal account Learn how to create a...bullet
6 Ponzi schemes in Ghana These investments are Ponzi schemes in...bullet
7 Appointments Dr Hazel Berrard Amuah is new Human Resources...bullet
8 MTN, AirtelTigo and Vodafone to review tariffs; customers...bullet
9 Menzgold Issues Menzgold to pay customers in 90 daysbullet
10 How to write a memo How to write a memo like a probullet

Top Videos

1 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
2 Selorm Adadevoh MTN CEO dances Agbadzabullet
3 Support Finance minister buys Kantanka carbullet
4 Former Capital Bank staff grills pork for survivalbullet
5 Forbes 2018 Africa's billionaires rich listbullet
6 New Discovery Ghana discovers new mineral, lithium in...bullet
7 Money Alert Meet Africa's richest womanbullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet