Consolidated Bank Ghana Limited (CBG) has moved swiftly to quash widespread social media rumors claiming the bank has been sold to a Swiss entity. In a statement, CBG categorically denied these allegations, reaffirming its status as a fully government-owned institution.
CBG reassured customers that their deposits remain secure, emphasizing the bank’s commitment to providing reliable services. This assurance was echoed by the Ministry of Finance (MoF), which also dismissed the claims as entirely false and misleading.
According to the Ministry, CBG remains a critical component of the government’s strategy to support indigenous businesses and the SME sector, driving economic growth. Over the past two years, the government has taken concrete steps to strengthen the bank’s capital, bolstering its resilience post-Domestic Debt Exchange Program (DDEP) under the IMF-supported Ghana Financial Sector Strengthening Strategy (GFSSS).
The Ministry urged the public to disregard the misleading reports and rely on official communication channels for accurate information concerning the bank. It remains resolute in working with regulators to ensure the stability of the financial sector.
CBG’s clarification provides much-needed reassurance to customers and stakeholders, reaffirming the bank’s dedication to its core mission. As an indigenous Ghanaian universal bank licensed by the Bank of Ghana, CBG continues to play a vital role in the country’s economic development.
Ruth Abla ADJORLOLO
