Finance Minister Ato Forson Signals Major Reforms for State-Owned Banks and Regional Growth

24th July•3 min read•12 sources

Finance Minister Dr. Cassiel Ato Forson has announced significant developments in Ghana’s financial landscape, confirming that Universal Merchant Bank (UMB) and Prudential Bank are now fully recapitalized and ready for business. Speaking during the 2026 Mid-Year Fiscal Policy Review, Dr. Forson urged the public and business community to transact confidently with these institutions following successful capital injections facilitated by the Ghana Amalgamated Trust (GAT) and private sector avenues. Additionally, the government is exploring the listing of selected State-Owned Enterprises (SOEs) and state-owned banks, such as the National Investment Bank (NIB) and the Agricultural Development Bank (ADB), on the Ghana Stock Exchange (GSE). This move is designed to enhance corporate governance, transparency, and operational efficiency without relinquishing ultimate state ownership.

While the government is strengthening major banks, Dr. Forson clarified that there are no immediate plans to use public funds for the recapitalization of savings and loans companies. He emphasized that these firms must pursue private sector solutions, including strategic partnerships and risk-sharing, to ensure their financial stability. This push for fiscal discipline coincides with a stern warning from the Securities and Exchange Commission (SEC) regarding 23 unlicensed investment entities. These unauthorized firms have been promoting products via social media, prompting the SEC to collaborate with law enforcement to protect the public from potential fraud and ensure compliance with the Securities Industry Act, 2016 (Act 929).

In the northern part of the country, preparations are peaking for the 2026 Northern Business Fair, scheduled for July 25-26 at Jubilee Park in Tamale. The event, supported by Northern Regional Minister Ali Adolf John and Yendi Municipal Chief Executive Sugri Muniru, aims to showcase the economic potential of the region, particularly in agriculture, fashion, and technology. Ecobank Ghana has signaled its commitment to the fair, intending to provide tailored financial and digital solutions to Small and Medium-Sized Enterprises (SMEs), agribusinesses, and women-led enterprises. Local leaders have lauded the initiative, powered by Channel One TV and Citi FM, as a vital platform for connecting local producers with wider markets and attracting much-needed investment.

Broader investment efforts continue across the country, with the Ghana Investment Promotion Authority (GIPA) launching a $383.65 million regional investment roadshow from July 27 to 31. This five-day tour will cover the Bono, Bono East, and Ahafo regions to map and promote domestic and foreign investment opportunities as part of the Investment Opportunity Mapping Project. The banking sector also saw a boost in international prestige, with Access Bank (Ghana) Plc recently securing two prestigious Euromoney Awards for Excellence as the Best Bank for Consumer Lending and Best Bank for SMEs. Together, these developments—ranging from regulatory vigilance to regional trade promotion—highlight a concerted effort by the government and private stakeholders to drive sustainable economic growth under the leadership of President John Mahama.

This story touches markets covered on Anansi Intelligence ↗.

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Finance Minister Ato Forson Signals Major Reforms for State-Owned Banks and Regional Growth

More from business

Ghana Market Update: Cedi Strengthens Ahead of CanCham Summit as Bezos Consortium Secures Major Stake in Liverpool

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Ghana Government Secures 30% Gold Purchase Agreement with Chamber of Mines to Bolster National Reserves