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The economy of Ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydrocarbons and industrial minerals.
Ghana is a multilingual country in which about eighty languages are spoken. Of these, English, which was inherited from the colonial era, is the official language and lingua franca. Of the languages indigenous to Ghana, Akan is the most widely spoken in the south. Dagbani is most widely spoken in the north.
Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as Société Générale - Social Security Bank (SG-SSB). The bank is part of the Société Générale banking group. The bank is based in Accra and its stock is listed on the Ghana Stock Exchange. It is a component of the GSE All-Share Index. According to its website it is the 7th largest bank in Ghana and has 45 networked branches in Ghana.
GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits. In August 2017, the Bank of Ghana, the nation's central bank, announced that it had approved a Purchase and Assumption transaction with GCB Bank Limited for the transfer of all deposits and selected assets of UT Bank and Capital Bank (Ghana) to GCB Bank Ltd.
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Ecobank Ghana PLC is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. In 2022, the bank retained its position as the largest bank in Ghana in the 2023 Ghana Banking Survey by PricewaterhouseCoopers (PwC). LIMA Partners also named the bank as the biggest bank by total assets in the Ghana Banking Industry Report.
Agricultural Development Bank of Ghana, commonly known as Agricultural Development Bank or ADB, is a government-owned development and commercial bank in Ghana. The bank is the first development finance institution established by the Government of Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator.
CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
uniBank (Ghana) Limited, commonly known as uniBank, was an indigenous private bank in Ghana, West Africa. The bank was placed in administration in March 2018 and subsequently consolidated as part of the Ghana Government's handling of its banking crisis. The collapse was controversial as it involved allegations of trading insolvently, and 5 billion cedis in illegal and related party transactions, unlawful loans and illegal acquisition of bank assets by Directors and shareholders. Founded by a former governor of the Bank of Ghana, uniBank was one of the thirty-five commercial banks licensed to operate in Ghana.
National Investment Bank, normally abbreviated to NIB, is a state owned commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. NIB was form to promote industrialization of all sectors in the country. It has undergone management and financial restructure to help it attain higher financial levels across the world.
Fidelity Bank is a commercial bank in Ghana which begun business in October 1998 as a Discount House. It was issued with its Universal Banking License on June 28, 2006, making it the 22nd bank to be licensed by the Bank of Ghana. It is one of the twenty-seven licensed commercial banks in the country.
Capital Bank was an indigenous private national development and commercial Ghanaian bank. It was one of the private national development and commercial banks licensed by Bank of Ghana, the national banking regulator. On August 14, 2017, the Bank of Ghana announced it had revoked its license due to insolvency during Ghana's banking crisis. The bank was then taken over by GCB Bank. The founder of the bank, William Ato Essien and three others were subsequently charged with misappropriating 100 million Ghana Cedis of the Bank's assets.
Small finance banks (SFB) are a type of niche banks in India. Banks with a SFB license can provide basic banking service of acceptance of deposits and lending. The aim behind these is to provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
ARB Apex Bank is a mini central bank for the Rural & Community Banks (RCBs). The basic facts:
Ernest Kwamina Yedu Addison is a Ghanaian economist Who serves as the current and 15th governor of the Bank of Ghana. He had previously worked at the same central bank as director of research from 2003 to 2011, and as an economist at the African Development Bank.
First Atlantic Bank is a universal bank in Ghana. It is licensed as a commercial bank, by the Bank of Ghana, the central bank and national banking regulator.
Consolidated Bank Ghana(CBG) is a commercial bank in Ghana. It is licensed by the Bank of Ghana, the central bank and national banking regulator.
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016. Most of the indigenous banks had been at the risk of defaulting on their loans, as they had been affected by the economic fallout of the Great Recession, which caused the events leading up to the Arab Spring that occurred in North Africa beginning in 2010. The crisis is the most severe economic crisis to affect Ghana since it became an independent country in 1960. The COVID-19 pandemic arrived in Ghana towards the end of the banking crisis in 2020, dealing further damage to the country's economy.
First National Bank Ghana Limited (FNBGL), commonly referred to as First National Bank Ghana, is a commercial bank in Ghana. It is licensed by the Bank of Ghana, the central bank and national banking regulator.
References
- ↑ "Ghana Telephone Directory : The Royal Bank (TRB) Gh. Ltd. (Head Office), Accra". ghanaweb.com. Retrieved 2017-11-27.
- ↑ "Welcome to The Royal Bank | Ghana". theroyalbank.com.gh. Retrieved 2017-11-27.
- ↑ webmaster. "The Royal Bank Ltd". Ghana Trade - Official SME Product Portal and Web Gallery. Retrieved 2017-11-27.
- ↑ "The Royal Bank opens three more branches". Modern Ghana. Retrieved 2017-11-27.
- ↑ "The Royal Bank hopeful of meeting new BoG minimum capital requirement". 2017-08-10. Retrieved 2017-11-27.
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