Ghana Central Bank Governor Supports Bank Mergers, Times Says

Ghana’s domestically owned banks should consider mergers or look for buyers to meet new capital- base requirements by 2012, central bank Governor Kwesi Amissah- Arthur said, the Business and Financial Times reported.

Ghana is increasing the capital-base minimum for banks to 60 million cedis ($41.6 million) from 25 million cedis, the Accra-based newspaper said.

Foreign-owned banks in Ghana, which include units of Barclays Plc and Standard Chartered Plc, are already in compliance with the rules, Business and Financial Times said.

Amissah-Arthur also encouraged the government to sell its holdings in banks to diversify ownership in the financial industry.

To contact the reporter on this story: Jason McLure in Accra on

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.