By Boakye Stephen, Kumasi, Ghana | Reporting for Ghanaian News, Canada | May 3, 2026
Former Information Minister Kojo Oppong Nkrumah has called for the urgent recapitalisation of the Bank of Ghana (BoG), warning that the country risks undermining its financial stability if decisive action is not taken.
He argued that the central bank’s current financial position requires immediate strengthening, stressing that sustainable economic management cannot rely on short-term measures such as asset sales.
“You know very well that when you start selling your assets to generate revenue, you are in trouble…”
His comments come at a time when discussions around the Bank of Ghana’s balance sheet and financial health have become increasingly prominent in Ghana’s economic debate.
Oppong Nkrumah emphasized that recapitalisation is not just a technical necessity but a strategic requirement to ensure the central bank can effectively carry out its core responsibilities, including monetary policy stability, inflation control, and financial system oversight.
He also raised concerns about the potential risks of political interference in the operations of the central bank. According to him, maintaining institutional independence is critical for building investor confidence and ensuring credible economic governance.
Analysts note that central banks play a crucial role in stabilizing economies, especially during periods of fiscal pressure. A weakened central bank may struggle to manage inflation, support currency stability, or respond effectively to financial shocks.
The call for recapitalisation adds to a growing conversation among policymakers and economists about the long-term sustainability of Ghana’s financial institutions. Many believe that strengthening the BoG will be key to restoring confidence in the broader economy.
Oppong Nkrumah’s remarks also highlight a broader issue: the need for discipline in economic management. Without strong institutions operating independently and transparently, policy decisions risk becoming reactive rather than strategic.
For Ghana, the debate over the Bank of Ghana’s future is more than a financial discussion—it is a test of institutional strength, governance maturity, and long-term economic vision.
As calls for reform grow louder, the question remains whether policymakers will take the necessary steps to reinforce the central bank or continue to rely on temporary solutions.
𝘼𝙗𝙤𝙪𝙩 𝙊𝙪𝙧 𝙍𝙚𝙥𝙤𝙧𝙩𝙞𝙣𝙜 𝙎𝙩𝘼𝙉𝘿𝘼𝙍𝘿𝙎
𝘛𝘩𝘪𝘴 𝘴𝘵𝘰𝘳𝘺 𝘸𝘢𝘴 𝘱𝘳𝘦𝘱𝘢𝘳𝘦𝘥 𝘶𝘴𝘪𝘯𝘨 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘱𝘶𝘣𝘭𝘪𝘤 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯, 𝘦𝘥𝘪𝘵𝘰𝘳𝘪𝘢𝘭 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩, 𝘢𝘯𝘥 𝘧𝘢𝘤𝘵-𝘤𝘩𝘦𝘤𝘬𝘪𝘯𝘨. 𝘖𝘶𝘳 𝘨𝘰𝘢𝘭 𝘪𝘴 𝘵𝘰 𝘥𝘦𝘭𝘪𝘷𝘦𝘳 𝘢𝘤𝘤𝘶𝘳𝘢𝘵𝘦, 𝘣𝘢𝘭𝘢𝘯𝘤𝘦𝘥, 𝘢𝘯𝘥 𝘵𝘳𝘶𝘴𝘵𝘸𝘰𝘳𝘵𝘩𝘺 𝘯𝘦𝘸𝘴 𝘧𝘰𝘳 𝘰𝘶𝘳 𝘳𝘦𝘢𝘥𝘦𝘳𝘴.
