Finance

Ghana: Société Générale meets the minimum capital requirement

Friday, 21 December 2018 15:05
Ghana: Société Générale meets the minimum capital requirement

(Ecofin Agency) - At about two weeks to the deadline, the Ghanaian subsidiary of the French banking group Société Générale announced that it has reached the minimum capital requirement of GH₵400 million (about $82 million) required by the central bank.

Société Générale Ghana explained that its shareholders authorised the increase of its capital by adding GH₵97 million from the bank’s revenues to the equity.

Late 2017, Central Bank of Ghana issued a requirement according to which the minimum capital requirement for banks should be GH₵400 million by December 31, 2018, in order to consolidate those banks' equity and improve their capacities to fund the economy.

In May 2018, ten Ghanaian banks owned by local investors announced that they could not meet the minimum capital requirement by the stated deadline. Those banks among which there were Prudential Bank, Royal Bank and Unibank sent a petition to the Ghanaian president Nana Akufo-Addo to ask him to invite the Central bank to extend the deadline by four years to let them raise their equity from GH₵120 million to GH₵400 million.  

Meanwhile, subsidiaries of foreign groups operating in the country have announced that they were ready to meet the new requirement by the specified deadline.



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.