Jurisdiction(s):
United Kingdom

Ghana banking regulation: Q&A on licensing, BoG supervision, capital adequacy, deposit protection, consumer/AML compliance, fintech, ownership/control approvals, foreign entry, failure, insolvency and M&A

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Practice notes

Banking regulation—Ghana—Q&A guide

This Practice Note provides a jurisdiction-specific Q&A overview of banking regulation in Ghana, published within the Lexology Getting the Deal Through series by Law Business Research (law as at 10 February 2023). Authored by WTS Nobisfields—Theophilus Tawiah.

1. What are the principal governmental and regulatory policies that govern the banking sector?

Over the past three years, the Bank of Ghana (BoG) has rolled out reforms across the banking landscape to reinforce stability and restore confidence in the financial system. As a result, a number of banks and specialised deposit-taking institutions (SDIs) saw their licences revoked. The BoG has confirmed that the programme of banking and SDI reforms has now concluded. That said, the Government will maintain a policy direction that introduces suitable mechanisms to reduce financial system instability and respond to emerging risks through strong supervisory and regulatory measures. Through this policy, the Government intends to position Ghana’s financial sector as the preferred source of finance for domestic businesses, while continuing to develop, strengthen and modernise the sector to advance the Government’s economic vision and broader transformational agenda...

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Web page updated on 21/05/2026

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