This chapter includes the following articles.
Moves prior to the Covid-19 pandemic to shore up the banking sector proved prescient, as they put local institutions in an advantageous position to face the unique challenges posed by the health crisis. After a sector clean-up, both assets and deposits rose as asset quality improved, and higher minimum capital requirements ensured that banks were more resilient to shocks. This positive trend continued into the pandemic, bolstered by digitalisation initiatives aimed at both improving service provision for existing customers and attracting the previously under- and unbanked. While the sector is concentrated, with the top-five banks accounting for nearly half of total deposits in the country, the introduction of new technologies and products is expected to foster diversification as new players disrupt the sector.
This chapter contains interviews with Ernest Addison, Governor, Bank of Ghana; and Abena Osei-Poku, Managing Director, Absa Bank Ghana.