Ghana: Central Bank Collapses Five Distressed Banks Into Consolidated Bank

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Ghana’s Central Bank has collapsed five banks into a Consolidated Bank of Ghana Limited.

The banks are BEIGE Bank, Sovereign Bank, Construction Bank, UniBank and The Royal Bank.

This follows the insolvency of the five banks after investigations by Bank of Ghana (BoG).

BoG Governor, Dr Ernest Addison announced this Wednesday afternoon.

He said the government has injected 450million Ghana cedis as capital for the Consolidated Bank

The Governor also explained that the Consolidated Bank Ghana Limited is to support the country’s economic development

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