There are too many banks in Ghana – Barclays MD

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The Managing Director of Barclays Bank Ghana Mrs Patience Akyianu argued that the Bank of Ghana (BoG), must rather strengthen the existing banks so they function to their ultimate best.

The number of banks in Ghana currently is too many.

This is an assertion made by the Managing Director of Barclays Bank Ghana Mrs Patience Akyianu.

She said this at the 2017 edition of the Ghana Economic Forum in Accra on Tuesday (August 8, 2017).

She argued that the regulator – the Bank of Ghana (BoG), must rather strengthen the existing banks so they function to their ultimate best.

“For a population of 26 million, GDP just around 40 billion with 36 banks and counting, I think we must rather focus or strengthening the existing banks by ensuring that they are well capitalised.”

She rather suggested that the BoG supports the activities of the existing banks instead of licensing more banks.

The Bank of Ghana must instead “support some of the projects that we do to move this country forward. In addition to that, we must actually focus on ensuring that existing banks are capable of serving their customers more efficiently and include the large unbanked population.”

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