Government to recapitalise Consolidated Bank Ghana in 2026 - Dr Ato Forson

The Minister for Finance, Dr Cassiel Ato Forson, has inaugurated a new Board of Directors for Consolidated Bank Ghana Limited (CBG), charging them to protect public funds and uphold the integrity of Ghana’s financial sector.

Delivering remarks at a swearing-in ceremony held in Accra on July 9, 2025, Dr Forson reminded the newly constituted board that CBG is not just another financial institution, but a critical symbol of state intervention following the collapse of multiple banks in the financial sector clean-up exercise.

“CBG stands as a reminder of the state’s intervention when approximately GH¢30 billion was spent to salvage and restore confidence in our financial system,” he said.

“I have assured the board of the government’s commitment to recapitalise CBG in the coming year. However, it is equally important that this board safeguards taxpayers’ money, as you have been entrusted with a crucial national asset,” he added.

The finance minister was however unequivocal about government’s stance on prudent financial governance within State-Owned Enterprises (SOEs).

He issued a stern warning against excessive remuneration practices, particularly bloated salaries and allowances for board members.

“We are leaving behind the era of excessive salaries and board allowances at SOEs. Such practices will not be tolerated under this administration. We are determined to ensure that state-owned entities are run efficiently, transparently, and in the national interest,” Dr Forson declared.

The newly appointed Board Chairman of CBG, Ernest Mawuli Agbesi, expressed his appreciation for the confidence reposed in him and his colleagues, vowing to work with dedication and professionalism.

“It is an honour to be called once again to serve the nation at such a critical time. We commend government’s resolve to recapitalize the bank, and as a board, we are committed to ensuring that CBG delivers value to the government and the Ghanaian people,” Mawuli Agbesi said.

The new board is expected to steer the affairs of CBG toward financial sustainability while upholding accountability and restoring public trust in the banking sector.

Other members of the new CBG Board include:

Dr Naomi Wolali Kwetey – Managing Director

Irene Ackuaku – Member

David Adom – Member

Michael Kwasi Anyamesem – Member

Stephen Kporzih – Member

Dr Sa-ad Iddrisu – Member

Immaculate Kawe Kanlisi – Member

John Alexander Ackon – Member



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