ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
The Bank of Ghana may appoint an Official Administrator for a bank or SDI where among others: a) The Bank of Ghana determines that the bank or SDI has violated any provision of Act 930 or regulations, directives, or orders issued under Act 930, or has engaged in any unsafe and unsound practices in such a manner as to weaken the RFIs condition, seri ously jeopardi se depositors’ interests, or dissipate the RFI’s assets; or that b) The bank or SDI’s capital adequacy ratio falls below 50% of the minimum required under section 29 of Act 930 or its unimpaired paid -up capital falls below 50% of the minimum required under section 28 of Act 930; or that c) The Bank of Ghana has reasonable cause to believe that the bank or SDI or its directors, key management personnel, or significant shareholders have engaged or are engaging in illegal activities in a manner likely to jeopardise the interest of depositors.
The Bank of Ghana is further empowered under section 123 of Act 930 to revoke the licence of an insolvent bank or SDI and appoint a receiver.
This section is triggered when the Bank of Ghana determines that a bank or SDI is either insolvent or is likely to become insolvent within sixty (60) days.
Once this determination is made, the Bank of Ghana is mandated to revoke the institution’s licence and appoint a receiver at the e ffective time of the revocation.
DISPUTE RESOLUTION MECHANISM Where a person is aggrieved with a decision of the Bank of Ghana in relation to: • A prompt corrective action undertaken by the Bank under Sections 102–106 of Act 930; • The appointment functions of an Official Administrator under Sections 107–122 of Act 930, and • The revocation of licence and the appointment of a receiver under Sections 123 – 139 of Act 930; and desires redress of such grievances, Section 141 of Act 930 requires that person to resort to arbitration under the rules of the Alternative Dispute Resolution Centre, which is established under the Alternative Dispute Resolution Act, 2010 (Act 798).
However, in the case of Dr.
Papa Kwesi Nduom & Others v. Bank of Ghana & Others (GN Bank), Civil Appeal No.
J4/07/2023, (19 th July 2023) the Supreme Court ruled that the Human Rights Court has jurisdiction to hear bank resolution cases involving allegations of breaches of administrative justice.
This case illustrates the crucial role of judicial oversight in bank resolution proceedings in ensuring that the process is administered in accordance with law and within the legal framework governing such complex matters.
THE ROLE OF THE JUDICIARY Furthermore, while the laws on insolvency provide general guidance on the effective implementation of insolvency processes and procedures, they may not always address all possible scenarios.
Thus, judicial intervention becomes essential to address grey areas of the law.
The Courts should however employ circumspection in the exercise of its discretion in the adjudication of insolvency and restructuring proceedings.
This is because, in the absence of any findings of breaches of the rules of natural justice an d due process, adverse court determinations against administrative decisions of the Regulator in insolvency proceedings have the tendency to create significant legal uncertainties, unwind contractual arrangements (including government interventions), reverse work done by receivers (e.g., asset sales to repay debts) and risk financial instability.
For international best practices on this area, there is the Financial Stability Board (FSB) which coordinates, at the international level, the work of national financial authorities and international standard-setting bodies in order to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies.
Permit me to share with you Principle 5.5 of the FSB’s Key Attributes for Effective Resolution Regimes (dated 25 April 2024).
It states that: “Legislation establishing resolution regimes should not provide for judicial actions that could constrain the implementation of, or result in a reversal of, measures taken by resolution authorities acting within their legal powers and in good faith.
Instead, it should provide for redress by awarding compensation, if justified.”
In addition, insolvency proceedings, unlike many adjudicative processes, is dynamic and require timeliness to achieve utmost effectives.
Delays in the judicial process can lead to a diminution in the value of assets, jeopardise enterprise viability, and have unintended detrimental consequences on the insolvent estate and stakeholders.
It is, therefore, critical that the judiciary ensures timely hearings and prompt rulings to safeguard the integrity of the process.
ONGOING LEGAL REFORMS I must also mention that Act 930 is currently under review.
Amendments are being proposed to: • clarify the Bank of Ghana’s mandate in bank resolution, • strengthen the legal framework for financial stability, and to • ensure an orderly and credible resolution regime within the banking and credit system.
CONCLUSION It is my firm belief that this sensitisation programme will be instrumental in the successful implementation of Act 1015 and Act 930, and in supporting regulatory reforms governing commercial and insolvency court proceedings.
The Bank of Ghana remains committed to promoting economic growth, ensuring the efficient operation of the banking and credit system, and supporting the development of an effective corporate insolvency regime.
With the support of all stakeholders, we are confident that the insolvency and beneficial ownership laws of the country will be implemented effectively, to the benefit of Ghana’s economy.
Once again, thank you.
I wish you productive and fruitful deliberations.
Johnson Pandit Asiama Governor, Bank of Ghana October 7, 2025 Good afternoon, distinguished CEOs, colleagues, and partners from the banking industry.
Let me thank you all for making time for this important post -MPC engagement.
This meeting comes at a pivotal moment in our country’s macroeconomic journey, one that reflects both the resilience of our economy and the steady progress toward full stability.
Macroeconomic and Policy Context Just two weeks ago, the Monetary Policy Committee held its 126 th meeting, during which we reviewed recent economic developments and assessed the outlook for growth and inflation.
The data are encouraging.
Inflation has continued its remarkable downward path, falling to 9.4 percent in September 2025 , marking the ninth consecutive month of decline and the first return to single digits in four years .
Food inflation dropped sharply to 11 percent, while non -food inflation eased to 8.2 percent.
These trends reflect the impact of consistent monetary policy, prudent liquidity management, and fiscal consolidation.
Our growth momentum is equally strong.
The latest data from the Ghana Statistical Service show that the economy expanded by 6.3 percent in Q2 2025, with non-oil GDP growing by 7.8 percent, driven largely by services and agriculture.
The Composite Index of Economic Activity rose by 6.1 percent in July, signalling continued expansion in domestic demand and production.
Externally, the picture is even more robust.
Ghana recorded a trade surplus of US$6.2 billion in the first eight months of this year, while international reserves reached US$10.7 billion, equivalent to 4.5 months of import cover .
The cedi has appreciated by 21 percent year -to-date, placing it among the best - performing currencies globally This performance underscores the growing credibility of our policy framework and the renewed confidence of markets.
Monetary Policy Decision and Outlook On the back of this progress, and to support the disinflation process while nurturing growth, the MPC voted to lower the policy rate by 350 basis points to 21.5 percent.
This is the third rate cut in 2025 and reflects confidence that inflation will remain within the medium -term target band of 8 ± 2 percent by the end of the fourth quarter.
We are mindful, however, of potential risks, including global oil price volatility and possible tariff adjustments and we stand ready to act decisively to safeguard stability.
The easing in policy rates has already started to transmit through the financial system.
Treasury bill rates have declined from 13.4 percent in July to 10.3 percent in August, and average lending rates are down from 26.6 percent to 24.2 percent.
We expect further improvement as banks realign their pricing models to reflect the easing stance.
Banking Sector Resilience and Supervision Let me also commend the banking industry for maintaining strong performance and resilience.
The Capital Adequacy Ratio has risen to 17.7 percent, while NPLs have improved to 20.8 percent , though still elevated and requiring sustained vigilance .
In this regard, the Bank of Ghana has introduced a number of new directives to strengthen prudential oversight and risk management, including the Bancassurance Directive, the Large Exposures Directive, and the Guidelines on Credit Concentration Risk Management We have also extended the transition period for the Outsourcing Directive to end - December 2025, following consultations with the Ghana Association of Banks.
I want to emphasise that this will be the final extension, and banks must ensure full compliance thereafter.
Looking ahead, the Bank will issue new exposure drafts on Liquidity Risk Management, Interest Rate Risk in the Banking Book, Stress Testing, and Recovery Planning.
These are part of a broader framework to align Ghana’s banking supervision with international best practice.
Foreign Exchange Intermediation and Market Transparency Beginning October 2025, the Bank of Ghana will commence foreign exchange (FX) intermediation under the Domestic Gold Purchase Programme, with plans to sell up to US$1.15 billion for the month.
These sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks.
Importantly, there will be no conditions or earmarking for allocations, ensuring a level playing field and transparent access to the market.
Monthly auction volumes may be adjusted depending on evolving market conditions, but our overarching objective remains clear, to deepen the interbank FX market, enhance price discovery, and smooth volatility.
The Bank of Ghana remains fully committed to transparency, and we will continue to disclose all FX market operations and outcomes in line with best international practice.
Partnership for Economic Transformation Colleagues, as we celebrate these gains, let me stress that the task of consolidating stability is a shared one.
Sustaining a stable exchange rate, deepening credit to productive sectors, and expanding exports require close collaboration between the Bank of Ghana and the banking industry.
I encourage all banks to design and promote export -oriented financial products, support SMEs and agribusiness, and work with us to enhance FX sourcing through formal channels In the same spirit, we urge banks to adhere to domestic regulatory provisions, including the use of local insurance companies for import coverage to help reduce foreign exchange leakages and build local liquidity.
We also expect banks to take active steps toward public listing to enhance capital strength, transparency, and long -term growth prospects.
Conclusion Ladies and Gentlemen, the return to single -digit inflation marks a new chapter in Ghana’s economic recovery, but it is not the end of the story.
Our collective responsibility now is to sustain discipline, strengthen the financial system, and ensure that stability translates into jobs, affordable credit, and real growth for households and businesses.
The Bank of Ghana will continue to work closely with all of you to achieve these goals, through open dialogue, consistent regulation, and shared purpose.
GLOBAL ALLIANCE FOR BANKING ON VALUES (GABV) 2025 AFRICA CHAPTER MEETING KEYNOTE ADDRESS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA DELIVERED ON HIS BEHALF BY MR.
ISMAIL ADAM DIRECTOR, BANKING SUPERVISION DEPARTMENT BANK OF GHANA LABADI BEACH HOTEL, ACCRA SEPTEMBER 18, 2025 The Chairman of GABV, Financial Partners, Distinguished Guests, Esteemed Colleagues, Members of the Media, Ladies and Gentlemen Good morning.
Good morning to you all.
It is a great pleasure to welcome you to the 2025 Africa Chapter Meeting of the Global Alliance for Banking on Values (GABV).
I especially warmly welcome all participants joining us from the continent and across the globe to Accra, Ghana.
Your presence does not only enrich this gathering with dignity and prestige, but also underscores the global significance of the discourse before us today.
This year’s gathering under the theme “Innovating for Impact: Strengthening Regional Collaboration and Resilience through Values-Based Leadership” I believe, reflects the urgent need to show leadership and collaboration in redefining the purpose of banking beyond profit towards inclusion, resilience, and sustainability.
Before I proceed, I would like to recognise and thank Opportunity International Savings and Loans Limited for graciously hosting the 2025 edition of the GABV Africa Chapter Meeting and to congratulate you for being the only Ghanaian Financial Institution represented in the African Chapter of GABV.
GABV’s aim of transforming the financial system through finance that supports a sustainable, just, inclusive and prosperous future for everyone – is truly commendable, and I believe it will resonate well as a call to action for other financial institutions in Ghana to align with such a worthy cause.
Concept of Value-based Banking 4.
Ladies and gentlemen, today, I am honoured to speak on a transformative agenda that is reshaping the banking industry for the better.
Value-based banking is emerging not only as a model that aligns financial performance with long -term societal impact but also a vital movement towards a more ethical, inclusive, and sustainable financial system that puts people and the planet at the heart of its mission.
Unlike traditional banking models that primarily focus on maximizing shareholder returns, value -based institutions integrate long-term social, environmental and economic values into their operations.
Value-based banking, at its core, focuses on delivering a triple bottom line: people, planet, and prosperity.
It is characterized by a commitment to generating positive social, environmental, and financial outcomes through banking activities.
Key characteristics include focusing on the real economy, prioritizing positive social and environmental impact as core to the business model, building long -term trust-based relationships with clients, ensuring resilience and sustainability, practicing transparent and inclusive governance and embedding these values and principles into the corporate culture, leadership, and daily operations of the financial institution.
In Ghana, where financial exclusion, youth unemployment, and environmental degradation remain pressing issues, values -based banking offers a pathway toward inclusive growth and resilience.
Challenges in Transitioning to Value-Based Banking 7.
Despite its promising attributes, several challenges hinder the widespread adoption of value-based banking in our region.
Technology and infrastructure gaps such as the lack internet access, smartphones, or reliable power at rural areas limit the reach of inclusive financial services.
Limited scale and market viability also make it difficult for financial institutions to reach rural populations in a cost -effective manner, which is fundamental to inclusive value-based banking.
Additionally, high operational costs and the prevalence of informal economic activity increase the risks and expenses linked with credit provision, discouraging banks from serving marginalised groups.
Limited financial literacy and low trust in formal banking systems hinder meaningful engagement with customers on value-based financial services.
Moreover, the lack of strong incentives or regulatory mandates for environmental, social, and governance (ESG) practices means that many banks remain focused on profit-driven models, with little motivation or structural support to transition toward value-based approaches.
Pathways Forward 9.
Ladies and gentlemen, to surmount these barriers and unlock the full potential of value-based banking, the Bank of Ghana has developed regulations and incentives promoting ESG compliance, social finance and sustainability reporting within banking frameworks.
The Bank of Ghana in collaboration with the Environmental Protection Agency (EPA) and Ghana Association of Banks (GAB) has developed a set of principles for the Banking industry in pursuit of sustainable banking stewardship.
The Bank of Ghana’s Sustaina ble Banking Principles, implemented by all banks, emphasi se the integration of ESG factors into lending and operational decisions.
To support this initiative, the Bank of Ghana with support from the International Finance Corporation (IFC) has facilitated the training of all banks on these principles.
Financial institutions should also adopt inclusive, community -driven strategies that prioritize long-term impact over short-term gains.
This includes investing in financial literacy, leveraging technology to reach underserved populations, forming strategic partnerships, and embedding ESG principles into their core operations.
Strengthening Regional Collaboration and Resilience Through Value -Based Leadership 11.
Distinguished ladies and gentlemen , in an increasingly interconnected world, regional collaboration is essential for tackling shared challenges such as economic instability, climate change, and social inequality.
Value -based leadership offers a transformative approach to building trust, fostering unity, and strengthening resilience across nations and communities.
To maximize impact, GABV should build inclusive platforms for dialogue and cooperation among industry experts, regulatory authorities, practitioners and industry associations to enhance technology and knowledge transfer.
Leadership development and capacity building, and promotion of shared ESG values should be enhanced to ensure the effectiveness of financial inclusion initiatives that accelerate progress toward shared sustainability goals.
To this end, the Bank of Ghana and the Chartered Institute of Bankers Ghana (CIB) have established a strategic partnership aimed at strengthening ethical standards and professionalism among banking professionals in Ghana.
This collaboration forms part of a broader agenda to restore public trust, curb fraud, and build a sustainable banking culture.
As a key outcome of this collaboration, the Chartered Institute of Bankers Ghana, with the support of the Bank of Ghana, has developed a Code of Conduct for banks in Ghana as well as an E-learning Programme to promote best banking practices and high ethical standards within the banking sector.
Conclusion 14.
Ladies and gentlemen , financial institutions have the potential to drive positive changes, foster economic development, and improve financial inclusion.
To realize this potential, financial institutions must commit to deploying capital in ways that generate positive social and environmental impact.
This meeting presents a valuable opportunity for all stakeholders to share insights, deepen collaboration, and strengthen our collective economic, social and environmental impact.
After the meeting, I hope you would take some time to explore some of Accra’s notable attractions.
Let us strive towards the highest standards and aim to build an inclusive financial system that serves the needs of all, rather than a privileged few.
In doing so, we become part of the solution to the shared challenges we face.
1 of THE 24-HOUR POLICY PROGRAMME: ROUNDTABLE DISCUSSION THEME: “FINANCING GHANA’S 24-HOUR FUTURE: THE ROLE OF BANKS IN THE TRANSFORMATIONAL JOURNEY” SPEECH BY DR.
JOHNSON P. ASIAMA GOVERNOR, BANK OF GHANA DELIVERED ON HIS BEHALF BY MR.
ISMAIL ADAM DIRECTOR, BANKING SUPERVISION DEPARTMENT BANK OF GHANA SEPTEMBER 18, 2025 BANK SQUARE 2 of Mr.
Chairman, Ministers of State, The Presidential Advisor on the 24-Hour Economy, Chief Executive Officer, Ghana Infrastructure Investment Fund (GIIF), Chief Executive Officer, Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL), Chief Executive Officers of Financial Institutions Captains of Industry, The Media, Distinguished Guests, Ladies and Gentlemen, Introduction 1.
Thank you for the opportunity to share a few thoughts on this important issue, which is key to our economic development.
Specifically, I am here to share some thoughts on the roles the Bank of Ghana can play in the financing of the 24-hour policy.
The 24-hour policy, designed to rejuvenate the nation's economic framework through round -the-clock operations in vital sectors, is a commendable initiative by the government.
Its transformative impact stems from its potential to drive capital investment an d formation, enhance productivity, create employment opportunities, and raise household incomes.
The primary benefit of a 24-hour policy is the potential for increased economic output and employment opportunities.
Extending operational hours helps businesses maximize their asset utilisation rates and accommodate different international markets and time zones.
Additionally, it can lead to b etter utilisation of public infrastructure, which often remain underutilised during off- peak hours.
This policy also diversifies options for consumers, enhancing overall customer satisfaction and lifestyle convenience.
Role of the Bank of Ghana in the 24-Hour Policy 4.
As stipulated in Section 3 of the Bank of Ghana Act, 20 02 (Act 612) as amended, the Bank of Ghana shall among other functions, support the general economic policy of Government and promote economic growth and development.
3 of 5.
A look at economic history indicates that no nation has ever developed without an appreciable growth in the financial sector.
Both the financial sector and the real sector of the economy are interwoven.
Developments in the real sector influence the speed of growth of the financial sector directly, while the growth of financial institutions influence the real economy.
Central banks contribute significantly to economic development by among other functions, ensuring price and financial stability through monetary policy, managing the payment system, regulating and supervising the banking sector as well as promoting financial inclusion.
Specifically, the Bank of Ghana can support the 24 -hour policy by leveraging its monetary policy tools.
These tools are primarily used to control inflation, stimulate economic growth and maintain price stability.
With stable prices and reduced inflation, the central bank can adjust interest rates downwards, to enhance access to credit from financial institutions.
With improved access to credit, businesses can expand their operations, ultimately, promoting the 24- hour policy.
Furthermore, with the use of monetary policy tools, the Bank of Ghana can leverage on cash reserve requirements or open market operations to control the amount of money available in the economy, thereby influencing lending to industry players and potentially improving access to credit.
However, whilst we encourage improving access to credit, we are concerned about the increasing Non-Performing Loans (NPLs) within the banking sector.
Financial institutions would need to enhance their credit risk management f ramework to adequately manage credit risks.
In addition, borrowers and financial institutions are expected to be guided by the Bank of Ghana’s recent notice on the “Regulatory Measures to reduce Non-Performing Loans”.
Furthermore, the success of this policy is hinged on the safety and soundness of the banking sector.
As the Regulatory and Supervisory Authority, we remain committed to safeguarding public confidence in the banking system.
This is achieved through regular supervision of Regulated Financial Institutions (RFIs) and the enforcement of prudential regulations to guide their operations and to align with international best practices.