Bank of Ghana is not taking over our operations - Ideal Finance

Bank of Ghana is not taking over our operations - Ideal Finance

- Ideal Finance has reacted to rumours of a takeover by the Bank of Ghana

- It assured its customers and the general public that its paid-up capital is in excess of the requirement by the Bank of Ghana

- A statement was released after the rumours began to circulate following an interview granted by finance minister Ken Ofori Atta

The management of Ideal Finance Limited, has reacted to rumours of a takeover by the Bank of Ghana (BoG), MyNewsGH.com reports.

Following an interview granted to Peace FM by the minister of finance, Ken Ofori-Atta, on Friday, November 16, 2018, rumours of a takeover of Ideal Finance began to make rounds.

Ofori-Atta is reported to have stated that it has come to his attention that the company is facing challenges.

A man wearing a suit

Dr. Kotei Dzani, CEO of Ideal Finance Source: Supplied
Source: UGC

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Ideal Finance however came out to say that it is in good financial standing, and for that reason, the issue of a takeover has never become an option.

The company went on to say that it currently has a paid-up capital of GHC56.7 million, which is well above the minimum requirement of GHC15 million required by the BoG for finance houses with a capital adequacy ratio of 11.6%.

It added that the finance minister did not at any point in time say that the BoG will “…take over Ideal Finance over liquidity challenges.”

For that reason, it went on, the publication is untrue and fraught with fictitious quotes which do not vaguely represent what the minister said in the aforementioned interview.

Ideal Finance therefore called on it customers and the general public to disregard the publication and its ensuing commentary.

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Source: Yen.com.gh

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