Consolidated Bank Ghana Limited (CBG) has rejected widespread social media rumours claiming that the bank has been sold to a Swiss entity.
In a recent statement, CBG clarified that there has been no change in ownership and confirmed that it remains fully government-owned.
The bank reassured customers that their deposits were secure and reiterated its commitment to delivering reliable services.
Similarly, the Ministry of Finance (MoF) has dismissed these allegations, stating that CBG has not been sold to any foreign investor.The ministry emphasized that the reports are completely false and misleading, affirming that CBG is still a state-owned bank, having transitioned from a bridge bank to a universal bank licensed by the Bank of Ghana.
As a policy bank, CBG plays a vital role in the government's strategy to support local businesses and the SME sector, contributing to economic growth.
Over the past two years, the government has strengthened the bank’s capital to enhance its resilience following the Domestic Debt Exchange Program (DDEP), which is part of the IMF-supported Ghana Financial Sector Strengthening Strategy (GFSSS) approved by the Cabinet.
The ministry encouraged the public to disregard these misleading reports and to rely on official communication for any information regarding the bank. It reaffirmed its commitment to working with all regulators to ensure the stability of the financial sector.
