Ghana Settles Banking Cleanup as Most Lenders Meet Demands
- West African nation has 23 ‘well-capitalized’ lenders
- Exercise cost state at least 12 billion cedis: central bank
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Ghana completed a cleanup of its banking industry in which lenders were required to raise their capital and improve governance, with two-thirds of them meeting the new requirements, Bank of Ghana Governor Ernest Addison said.
The West African nation has “23 well-capitalized” banks, compared with 34 previously, which raised their holdings to at least 400 million cedis ($81.1 million), Addison told reporters Friday in the capital, Accra.