Local banks beg Akufo-Addo for GH¢400m capital extension else dem go collapse

Heads of indigenous banks for Ghana dey want President Akufo-Addo to intervene in di new capital requirement wey Bank of Ghana give dem.

Dem want make di president reduce di minimum capital requirement of GH¢400 million wey Bank of Ghana want make dem raise by December 2018.

According to di banks, dem go fit recapitalise up to GH¢170 million by di end of 2018, GH¢220 million by di end of 2019, GH¢280 million in 2020, GH¢340 million in 2021 and GH¢400 million in 2022.

Di banks admit say di idea of recapitalization be good, but di problem be di period which be short, sake of that dem want extension.

But Parliament en Finance Committee Chairman Dr Mark Assibey reject di calls for reduction of di capital requirement den extension, he believe say any serious bank for fit raise di money else make dem stop operating.

Di meeting with President Akufo-Addo end without conclusion, but more talks be expected between bank managers den di presidency.

Due to poor financial management for some local banks, dis year alone den take over three banks, UT Bank, Capital Bank den Unibank.

Di operations of local banks dey create panic for di system as customers dey fear say sometimes dem fit lose demma monies if dem no dey save plus di right bank.