Recapitalisation key to restoring BoG’s financial health – Johnson Asiama 

The Bank of Ghana (BoG) has confirmed that the government is supporting efforts to recapitalise the Central Bank following the financial strain it experienced during the Domestic Debt Exchange Programme (DDEP).

Speaking at the 128th Monetary Policy Committee (MPC) press briefing on Wednesday, Governor Dr. Johnson Asiama described recapitalisation as a critical step in safeguarding the Bank’s operational independence and restoring public confidence in monetary policy.

“It is only fair that the wounds suffered as a result are addressed,” Dr. Asiama said, referring to the financial impact of the debt restructuring. “So far, discussions with the government have been fruitful, and there is support to help repair the Bank’s balance sheet,” he added in response to a question from Citi Business News’ Nii Larte Lartey.

The Governor emphasised that restoring the BoG’s capital position is vital for the effective delivery of its core mandates, including price stability, financial sector supervision, and macroeconomic management.

Finance Minister Dr. Cassiel Ato Forson had previously ruled out the use of taxpayer funds to recapitalise the Central Bank, citing a ¢53 billion recapitalisation package agreed under former Governor Ernest Addison. He had insisted that any recapitalisation must be achieved through internal reforms and restructuring rather than direct budgetary support.

Dr. Asiama also reported strong progress in the recapitalisation of Ghana’s commercial banking sector. As of December 2025, 21 of the 23 licensed banks had met the required capital adequacy thresholds, while the remaining two banks were granted a deadline of the end of March 2026 to comply.

“We have two more banks that are yet to meet the requirement, but they have been given until the end of March 2026. Overall, we have made significant progress on the recapitalisation strategy, and we are monitoring closely to ensure full compliance,” he said.

The Governor expressed optimism that the coordinated recapitalisation efforts would not only restore the BoG’s financial health but also strengthen the broader banking sector, ensuring stability and resilience in Ghana’s financial system.