Social media rumors that Consolidated Bank Ghana Ltd. (CBG) has been sold off have been refuted.
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CBG emphasized in a press release that the Ghanaian government is still the only shareholder and that there has been no change in ownership.
According to the bank, the rumors of a sale are “entirely false and misleading,” and they should not be believed.
Customers of CBG were reassured that there was no need to worry about their deposits or the bank’s operating integrity.

The organization maintains its reputation as the go-to bank for small and medium-sized businesses (SMEs) by offering top-notch service and cutting-edge products.
“We assure our cherished customers that their funds are secure with the bank, and we encourage the public to rely only on official communication channels for accurate information,” the statement continued.
The management of the bank reaffirmed its dedication to providing high-quality services and expressed gratitude for the patrons’ continued patronage and trust.
Financial Ministry
In a separate press release, the Ministry of Finance stated that the CBG’s role as a policy bank is still vital to the government’s plan to promote economic growth by assisting small and medium-sized enterprises and indigenous companies.
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According to the statement, the government has strengthened the bank’s capital during the last two years to increase its resilience following the Domestic Debt Exchange Programme (DDEP) under the Cabinet-approved Ghana Financial Sector Strengthening Strategy (GFSSS), which is backed by the IMF.
According to the ministry, the assistance is intended to save jobs and stop the collapse of local financial institutions.
“CBG therefore is in a sound financial position, and there is no cause for concern regarding the security of customers’ deposits or the bank’s operational integrity,” it stated.

Consolidated Bank Ghana LTD (CBG) wishes to categorically refute social media reports alleging that the Bank has been sold.

There has been no change in the ownership of the Bank and Government of Ghana remains the sole shareholder.

We wish to state that reports of sale of the Bank are entirely false and misleading.

There is therefore no cause for concern regarding customer deposits and the Bank’s operational integrity.

The Bank continues to deliver exceptional customer service and innovative products. As the SME Bank of choice, the loyalty and trust placed in us by our customers are highly appreciated.

We assure our cherished customers that their funds are secure with the Bank, and urge the public to rely on the Bank’s official information. communication channels for any

Signed Management.

Attached below is a copy of a statement issued by the Ministry of Finance

GOVERNMENT REFUTES ALLEGATIONS ON THE SALE OF CONSOLIDATED BANK GHANA (CBG)

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1. The Ministry of Finance refutes recent social media reports alleging that Consolidated Bank Ghana (CBG) has been sold to a foreign investor.
2. We wish to state that CBG has not been sold and these reports are entirely false and misleading. CBG remains solely a state-owned bank after it was converted from a bridge bank into a universal bank and licensed by the Bank of Ghana.
3. CBG, as a policy bank, remains critical in Government’s strategy of supporting indigenous businesses and the SME sector to spur economic growth.
4. Over the past two years, Government has taken steps to strengthen the bank’s capital to make it more resilient post the Domestic Debt Exchange Program (DDEP) under the IMF supported Ghana Financial Sector Strengthening Strategy (GFSSS), as approved by Cabinet.
5. This support is to prevent the decimation of indigenous financial institutions and to preserve jobs. CBG therefore is in a sound financial position, and there is no cause for concern regarding the security of customers’ deposits or the bank’s operational integrity.
6. We urge the public to disregard these misleading reports and rely on official communication channels for any information concerning the bank.
7. The Ministry of Finance remains resolute, working with all regulators to ensure the stability of the financial sector.