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Significance
The move follows a streamlining process by the government over the past two years that has seen nine major banks liquidated by the Bank of Ghana (BoG). President Nana Akufo-Addo has said this is necessary to address liquidity shortfalls and combat corporate governance transgressions.
Impacts
The New Patriotic Party (NPP) government may struggle to counter accusations of a politically biased rationalisation process.
Higher capitalisation requirements will compound barriers for new domestic entrants.
The government will prioritise financial inclusion measures amid fears over the possible negative effects of rationalisation.
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2019
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