Uncategorized
BoG Governor Dr. Johnson Asiama: No Pressure to Reinstate Revoked Bank Licences Without Due Process
Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has affirmed that he is under no pressure to unilaterally reinstate the licences of banks whose operations were terminated during the country’s banking sector cleanup.
Addressing journalists at the 125th Monetary Policy Committee (MPC) press conference held in Accra on Wednesday, July 30, Dr. Asiama responded to a question from Citi Business News’ Nerteley Nettey Adjaho, stressing that any potential reinstatement must adhere strictly to legal and institutional protocols.
“Not at all,” Dr. Asiama stated in response to whether he felt pressured to restore licences. He emphasized that such decisions fall beyond the discretion of the Governor and must be guided by legal rulings and the approval of the Bank’s Board of Directors.
“Remember, the resolution framework is still in effect. When I assumed office, substantial progress had already been made. Some of the cases are currently in court, while others are going through settlement procedures. The process is ongoing, and we are committed to following it accordingly,” he noted.
Dr. Asiama further elaborated on the steps required for any potential reinstatement:
“If, for instance, a court issues a directive, the Board of the Bank of Ghana would review and act accordingly. However, from my position as Governor, there is absolutely no pressure to restore any licence unilaterally.”
This clarification comes in the wake of a political promise made by former President John Dramani Mahama during the 2024 general election campaign. In his acceptance speech at the University of Development Studies on May 15, 2024, after securing the National Democratic Congress (NDC) presidential nomination, Mr. Mahama pledged to enhance local participation across key sectors including banking, telecommunications, tourism, mining, agriculture, and manufacturing as part of efforts to grow the economy and create sustainable jobs for the youth.
The banking sector cleanup, launched in 2017, was aimed at sanitizing and stabilizing Ghana’s financial system. As part of the reform, the central bank raised the minimum paid-up capital requirement for commercial banks from GHS120 million to GHS400 million. This regulatory adjustment led to the collapse or consolidation of several financial institutions that failed to meet the new capital threshold.
In total, the Bank of Ghana revoked the licences of nine local banks, 23 savings and loans companies, 347 microfinance institutions, 39 finance houses, and 53 fund management firms.
Among the collapsed banks were UniBank, The Sovereign Bank, The Beige Bank, Premium Bank, The Royal Bank, Heritage Bank, Construction Bank, UT Bank, and Capital Bank.
While the central bank defended the move as essential to restoring confidence and resilience in the financial sector, critics argued that several of the affected institutions could have been restructured or supported to preserve jobs and maintain indigenous ownership within the sector.
General News
Mahama to Host Zimbabwe President Mnangagwa for Three-Day State Visit
President John Dramani Mahama is set to host Zimbabwean President Emmerson Mnangagwa on a three-day State Visit to Ghana from Wednesday, April 1 to Friday, April 3, 2026.
According to a statement from the Presidency, President Mnangagwa will arrive at the Accra International Airport at 3:00 PM on Wednesday, where he will be received with full military honours by President Mahama. The ceremony will feature an inspection of a Guard of Honour mounted by the Ghana Armed Forces, followed by a 21-gun salute.
Later in the evening, President Mahama will host a State Banquet in honour of his Zimbabwean counterpart, in celebration of the long-standing relations between the two countries.
The highlight of the visit will be bilateral talks between the two leaders at the Peduase Lodge. The discussions, which will begin with a tête-à-tête, are expected to focus on strengthening cooperation in key sectors including trade, tourism, health, sanitation, agriculture, anti-corruption efforts, and job creation.
Both leaders are also expected to preside over the signing and exchange of several Memoranda of Understanding aimed at deepening diplomatic and economic ties between Ghana and Zimbabwe.
As part of his itinerary, President Mnangagwa will visit the Sweden Ghana Medical Centre and the Accra Compost and Recycling Plant to gain insight into Ghana’s advancements in healthcare delivery and sustainable waste management.
He will also pay homage to Ghana’s founding father, Dr Kwame Nkrumah, by laying a wreath at the Kwame Nkrumah Memorial Park.
President Mnangagwa is expected to depart Ghana on Friday, April 3, with full departure honours at the Jubilee Lounge.
The visit is anticipated to further strengthen bilateral relations and expand cooperation between Accra and Harare.
Read the statement below;

General News
Global InfoAnalytics: Mahama’s approval rating at 67%; economic optimism slips
President John Dramani Mahama continues to enjoy strong public support, maintaining a 67% approval rating, according to a new poll by Global InfoAnalytics.
The survey released on March 25, 2026, showed that only 26% of voters disapprove of his performance, though it was a slight increase from 24% recorded in December 2025, while approval remains unchanged.
Support for President Mahama, according to the survey, spans all regions, including traditional opposition strongholds.
In the Ashanti Region, which is the stronghold of the opposition, New Patriotic Party (NPP), the poll showed that 56% of voters approve of his performance, while approval stands at 64% in the Eastern Region and 65% in the North East Region.
The poll also indicates that a majority of party affiliates back the president’s performance, except for supporters of the NPP.
In the direction of the country, 65% of respondents in the survey noted that Ghana is headed in the right direction, though there was a marginal drop from 66% in the previous quarter.
Meanwhile, 28% believe the country is on the wrong path, up from 24%, while those with no opinion declined from 10% to 7%.
Living standards appear to have improved for many Ghanaians, with 58% of voters saying their conditions are better than a year ago, compared to 16% who report a decline.
However, optimism about the future has dipped slightly. The poll found that 68% of voters expect their standard of living to improve over the next 12 months, down from 70% in the previous quarter, suggesting growing unease over potential inflationary pressures linked to the Middle East conflict.

Uncategorized
President Mahama Calls for Global Recognition of Slave Trade as Crime Against Humanity
President John Dramani Mahama has called on the global community to acknowledge the transatlantic slave trade as a grave crime against humanity, urging nations to restore dignity and humanity to the millions of Africans who were trafficked and enslaved over 400 years.
High-Level Special Event on Reparatory Justice, convened by President John Dramani Mahama at the UN Headquarters on 24th March 2026, President Mahama emphasized the power of language in shaping consciousness, warning that “violence begins with language. When words are weaponised, or to codify abuse, when people are called out of their names.”
“There’s no such thing as a slave,” he said. “There were human beings who were trafficked and then enslaved by people who believed they could own those human beings as chattels, as their personal property. This is not the same thing if we acknowledge an individual’s humanity and respect their basic rights to dignity.”
President Mahama recounted the horrors of the Middle Passage, the brutal conditions of plantations, and the systematic erasure of African identity. “When slaves were captured, they were always stripped of their clothing, chained, and packed like sardines into the holds of cargo ships. Not all survived the voyage. Those who did were stripped of their names and given new ones like John, Jemima, or Mary, while some were branded like cattle with the plantation’s insignia.”
He cited the staggering scale of the trade: “Roughly six million enslaved Africans were trafficked to Brazil. Almost two million were trafficked to Jamaica, half a million to America, and over 450,000 to Barbados. These are not just numbers – these are human beings, human lives, families, hopes, and dreams stolen from them.”
Mahama also highlighted historical laws and codes designed to dehumanize Africans. “In 1662, the legal doctrine Partus Sequitur Ventrum was established in Virginia, declaring that children born of enslaved women would also automatically be enslaved, stripping them of their paternity and humanity in the eyes of the law.”
Warning against the dangers of historical erasure, the President said, “Earlier when discussing the importance of this resolution, I said it was a safeguard against forgetting. This is the type of forgetting that we are witnessing when black history courses are removed from curricula, and books about slavery, segregation, and racism are banned.”
President Mahama concluded with a call to collective action: “Tomorrow we vote on a historic resolution that will be another step in establishing truth. We stand united as Africans, whether on the continent or in the diaspora, and link up with people of conscience around the world to seek truth and justice, and restore the dignity and humanity of victims of the slave trade.”
“Truth begins with language,” he said. “Reclaiming racial equality, the dignity of Africans, and the humanity of our ancestors is a matter of our own humanity. Let us vote to establish truth so that together we can finally acknowledge the full horrors of these transgressions against humanity.”
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