Banks in Ghana

Banks and Saving banks in Ghana

Ghana's banking system has been the tool former governments have used to develop the economy. Talking about banking institutions, the Bank of Ghana is the central bank in the country, and it is the ruler of the system, following international norms.


In the past, banks only worked for a few elite, and their functions were just investing in banks. Now this situation has changed and now banks are open to everyone, meaning they have new products and poor people in Ghana can also have their money in banks.  Almost 10% of the population have their money in those commercial banks.


Banks have become more efficient and competitive, the financial system now is more diversified than before since it has 26 banks operating in the country. Half of them are controlled by Ghanaians, and the other 50% are foreign; Nigeria has one of the strongests and the largest sectors in Africa (Access Bank Ghana, for example, is a Nigerian Bank with branches in the country). Agricultural Development Bank of Ghana, CAL Bank, Barclays Bank or Bank of Africa are examples of banks operating in the country. That landscape of an increasing banking system has made it more competitive, and concentration of assets in few banks is declining year after year.

News related with Ghana Banks

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Banks resist cryptocurrency use in Ghana - GhanaWeb

... resist cryptocurrency use in GhanaGhanaWebSome banks have e...


Banks resist crypto currency use in Ghana - - Citifmonline

... banks have expressed strong resistance to the adoption of crypto currency in Ghana describing it as grounds of breeding money laundering and other financial crimes. The banks have also cited the absence of a law as basis for their posture. There ...Ghanaian banks resist the use of ...


IFC takes steps to roll out Banking on Women programme - Graphic Online

... Corporation (IFC) has initiated steps to introduce the Banking on Women Programme, its custom product that supports women entrepreneurs in the Ghanaian banking sector. The product when introduced, is expected to encourage ...and more »...


Bank of Ghana releases annual percentage rates of interest charged on loans - Ghana Business News

... of Ghana releases annual percentage rates of interest charged on loansGhana Business NewsThe Bank of Ghana on Friday released its...


Three banks to begin their own version of mobile money - Citifmonline

... least three banks are set to commence the issuing of electronic money which will allow customers transfer money on a virtual platform. According to the Bank of Ghana, the development forms part of efforts to reduce the use of cash and switch to a ...and more »...


Average base rate for February drops marginally to 24.5% - BoG - GhanaWeb

... marginally to 24.5% - BoGGhanaWebThe Bank of Ghana on Friday released its latest data on Annual Percentage Rates (APR) of interest charged on loans and credit advances and the Average Interest (AI) paid on depos...



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