Ghana: Bank of Africa sets January 7 to recapitalise

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The Bank of Africa (BoA) Ghana Limited says it has “almost” completed the process needed to raise its minimum paid up capital to GHȻ400 million.

In a statement responding to local media reports on the status of the bank’s recapitalisation on Wednesday, January 2, BoA said it expects to complete the recapitalisation process and receive full approval from the Bank of Ghana on January 7.

The Bank of Ghana’s recapitalisation directive, which raised the minimum paid up capital of banks from GHȻ120 million to GHȻ400 million, ended on December 31, 2018.

The central bank is expected to make a statement on the directive in the coming days.

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