Deals
Bank Owner Sees Scope for Deals as Ghana Cleans Up Its Lenders
- Most lenders seen choosing purchases over raising capital
- Top-tier banks need acquisitions to reposition themselves
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One of Ghana’s biggest lenders is ready to pick over the bones of its peers should the country’s push to strengthen the industry provide opportunities to buy banking assets or make full-blown acquisitions.
The nation’s banking regulator is trying to bolster a sector beset by bad loans and poor governance, curbing the availability of credit in Africa’s third-fastest growing economy. The West African nation’s 35 licensed lenders have until the end of this year to raise their minimum capital levels more than threefold to 400 million cedis ($90 million).