Government denies sale of Ghana International Bank shares by Bank of Ghana after Kofi Bentil raises alarm
The government has denied reports that the Bank of Ghana plans to sell Ghana’s controlling stake in London-based Ghana International Bank (GHIB), following public concerns raised by IMANI Africa Vice President Kofi Bentil.
The controversy started last week after reports emerged that GHIB’s board had asked its Chief Executive Officer to step down without giving reasons.
The dismissal was linked in some reports to the CEO’s alleged opposition to a proposed sale of Ghana’s shares in the bank.
Kofi Bentil amplified the claims on social media, criticizing the Bank of Ghana’s recent financial decisions.
“They sold 18 tons of gold and used it to reduce their losses. Then they floated a sale and lease back of their office which backfired. Now they are planning to sell Ghana’s shares in GHIB, London. Nkrumah must be rolling in his grave. Stay tuned,” he posted.
Responding to the claims, Beatrice Annan, a presidential staffer and member of the Bank of Ghana board, dismissed the reports.
“This is a big fat lie. Kindly disregard makers of fake news who are gasping for scandals,” she wrote.
Despite the denial from the presidential staffer and BoG Director, the Bank of Ghana itself has not issued an official statement on either the reported GHIB CEO dismissal or the alleged plan to sell Ghana’s shares.
In a follow-up post, Bentil acknowledged the government’s denial but raised new questions about GHIB’s funding.
“A clear position that GHIB shares won’t be sold is good,” he wrote.
“But question… has the World Bank approved a $100 million loan for GHIB, and expressed interest in injecting equity? What does that mean?”
GHIB was established in 1959 and serves as a correspondent bank for Ghanaian banks and businesses with UK and global trade links.
Ghana’s stake in the bank is seen as strategic for foreign exchange and trade finance.
Comments (0)