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BoG is solid, ignore funny NDC propaganda about the collapse of Bank of Ghana – John Kumah Deputy Finance Minister

August 10, 2023

A Deputy Minister of Finance, Dr John Ampontuah Kumah, has refuted claims made by the Minority Leader, Dr , suggesting that the government intends to introduce a (BoG) recapitalisation levy for Ghanaians to pay.

During a press conference on Tuesday, August 8, Dr Ato Forson stated, “Let me assure you that very soon, Ghanaians will be made to pay for Bank of Ghana recapitalisation levy, a tax to recapitalise the Bank of Ghana, because the central bank has collapsed virtually.”

Responding to these claims, Dr John Ampontuah Kumah, in a Facebook post on Wednesday, August 8, outrightly denied the assertion. He emphasized that the Bank of Ghana is strong and solid, and dismissed the notion of a recapitalisation levy being introduced.

“Ignore this funny Propaganda about the collapse of the Bank of Ghana (BoG). BoG is Solid!” he posted.

He further elaborated that the main source of income for the Bank of Ghana is derived from government transactions, including fees and charges on government transfers, the bank's investments in marketable instruments, and earnings from non-marketable holdings of the bank. He encouraged Ghanaians to disregard what he referred to as opposition National Democratic Congress (NDC) propaganda.

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