Malawian delegation commends Ghana’s deposit insurance reforms

A high-level delegation from Malawi has commended Ghana for progress made in strengthening deposit insurance and financial sector stability during a study visit to the Ghana Deposit Protection Corporation (GDPC) in Accra.

The five-member delegation, led by Malawi’s Secretary to the Treasury, Dr Cliff Kenneth Chiunda, is in Ghana to study best practices in deposit insurance operations, financial stability frameworks and institutional coordination mechanisms.

According to the Ministry of Finance, the visit is aimed at supporting Malawi’s efforts to strengthen its deposit insurance scheme and improve coordination among financial sector regulators.

The delegation included senior officials from the Reserve Bank of Malawi and the Deposit Insurance Corporation of Malawi, who engaged Ghanaian officials on issues relating to bank resolution, risk monitoring and policy coordination.

Dr Chiunda commended Ghana for developing what he described as a robust deposit protection system and said the Ghanaian experience offered valuable lessons for Malawi’s reform process.

He also expressed appreciation for the engagement, noting that the lessons gained would help strengthen Malawi’s financial safety net and institutional framework.

Deputy Minister for Finance, Thomas Nyarko Ampem, said the Ghana Deposit Protection Corporation plays a critical role in protecting depositors and maintaining confidence in the banking system.

He added that the government remains committed to strengthening financial stability through collaboration among institutions, including the Bank of Ghana.

Officials of the Ministry of Finance also highlighted ongoing collaboration with the GDPC and the Bank of Ghana in monitoring financial sector risks and vulnerabilities to support proactive policy responses.

The Ministry further outlined measures aimed at improving market efficiency and supporting legislative reforms, including the recently passed GDPC Amendment Act, 2026 (Act 1167).

According to the Ministry, the discussions also created an opportunity for Ghana and Malawi to deepen bilateral cooperation and exchange knowledge on financial sector stability and deposit protection.