Banking

Ghana Banking

For a frontier market, Ghana’s banking system is very developed. The sector has expanded rapidly over the past 20 years, and a number of new banks have been licensed. Six domestic banks were established in that time, while in the 1990s several foreign entrants moved in. Though most of the fundamentals are healthy, there are still a number of challenges that limit overall efficiency and performance. The sector remains unusually fragmented. On the other end of the spectrum, despite the existence of specialist rural banks and non-bank financial institutions, much of the country remains unbanked. As the sector consolidates, banks will get stronger and will be better able to take on larger deals; as regulations are refined, it will be better able to withstand shocks.

This chapter contains interviews with Kofi Wampah, Governor, Bank of Ghana (BoG); and Archie Hesse, CEO, Ghana Interbank Payment and Settlement Systems (GhIPSS).

Previous chapter from this report:
Economy, from The Report: Ghana 2014
First article from this chapter and report:
Most fundamentals remain healthy but challenges do exist
Cover of The Report: Ghana 2014

The Report

This chapter is from the Ghana 2014 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of OBG talks to Kofi Wampah, Governor, Bank of Ghana (BoG) 
OBG talks to Kofi Wampah, Governor, Bank of Ghana (BoG)