Consolidated Bank Ghana Limited (CBG) management denies rumors on social media that the bank has been sold.
The Government of Ghana “remains the sole shareholder” of the Company, according to a statement from CBC, and there is no reason to be concerned about the Bank’s “operational integrity.”
“There has been no change in the ownership of the Bank and the Government of Ghana remains the sole shareholder. the statement stated.
In the meantime, on Wednesday the Ministry of Finance (MoF) released a statement disputing the sale of the Bank to a foreign investor.
“CBG remains solely a state-owned bank after it was converted from a bridge bank into a universal bank and licensed by the Bank of Ghana.”
“CBG, as a policy bank, remains critical in the Government’s strategy of supporting indigenous businesses and the SME sector to spur economic growth,” the Ministry said.
It further stated that in order to make the Bank “more resilient post the Domestic Debt Exchange Programme (DDEP),” the Government had taken initiatives to boost its capital over the previous two years.
Read CBG Press Statement Below:
Source: newsthemegh.com