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 jmclure@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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