Business News

BoG gives two-month ultimatum to ‘ailing’ banks or risk liquidation

The head of banking supervision at the Bank of Ghana (BoG) Raymond Amanfo says banks in financial distress have until September to improve their financial position.
This follows reports that two of the nine banks that are in serious financial distress, could be closed by the Bank of Ghana if they fail to recapitalize.
JOYBUSINESS sources have indicated that the action is part of some requirements that needed to be taken by the government before Ghana can go to the IMF Board for its fourth review meeting, which is now set for August 30, 2017