“Losses as a result of DDEP – of nearly ¢17.1bn [$1.5bn] – may be carried over to 2023 statements and impact profitability and capital adequacy, affecting around 16 banks,” says Richmond Atuahene, a banking consultant based in Ghana
People walk past the Bank of Ghana in Accra, Ghana, November 28, 2018. REUTERS
Lumbered with local debt restructuring, Ghanaian banks are expected to recapitalise, but there are several options open to them before they do so., a total of ¢15bn in cocoa bills and locally issued dollar denominated bonds – 5% of Ghana’s total domestic debt – is being targeted in recent restructure plans, allegedly finalised in June.Get unlimited access to our exclusive journalism and features today.
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