Awards for Excellence 2020
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Ghana’s banking sector went through severe challenges in 2018 after the central bank’s asset quality review in 2017 revealed several structural challenges, including poor corporate governance, poor risk-management practices and regulatory non-compliance.
The central bank has embarked on a reform programme to clean up the banking industry and strengthening the regulatory and supervisory framework. As a result, the licences of nine banks were removed on the grounds of insolvency and three mergers took place.
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