The Ministry of Finance (MoF) has refuted claims that Consolidated Bank Ghana (CBG) has been sold to a foreign investor. In a statement on Wednesday, September 18, the MoF emphasized that these reports are false and misleading, reaffirming that CBG remains a state-owned bank.
The ministry highlighted CBG’s role as a key institution supporting indigenous businesses and the SME sector, crucial to the government’s economic growth strategy. It also noted recent efforts to strengthen the bank’s capital under the IMF-supported Ghana Financial Sector Strengthening Strategy (GFSSS) to ensure resilience post-Domestic Debt Exchange Program (DDEP).
The MoF reassured the public of CBG’s sound financial position, urging them to disregard false reports and rely on official communication channels for accurate information.
