Ghana’s central bank is lining up investors for lenders willing to combine their operations in an unprecedented push to force consolidation and strengthen the industry, according to people familiar with the matter.
Investors from local pension funds to foreign private-equity firms are on standby to pump cash into the system as lenders scurry to bolster their capital levels, according to the people, who asked not to be identified because talks are private. Some closely held banks are resisting the prerequisite to merge and are trying to find their own ways of getting a cash boost, hindering the process, the people said.
