I would want to say that the Bank of Ghana has enjoyed considerable political support enabling it to be effective to implement these rather difficult measures to comprehensively reform the banking and specialized deposit taking institutions sectors of the financial system.
These have involved, increases in the minimum capital of universal banks, resulting in some cases mergers and acquisitions, to ensure orderly consolidation of the sector. And in some cases involving insolvent institutions without any franchise value, where licenses were revoked. These reforms have rather sadly been misconstrued as being driven by some unseen hands to score political objectives. 5.