Financial sector still struggling after NPP spent GH¢30.3 billion on clean-up — Ato Forson

Finance Minister Dr Cassiel Ato Forson has said the financial sector is still struggling.

He said this in Parliament during the 2025 budget presentation on Tuesday, March 11, 2025.

The Finance Minister indicated that the financial sector has seen no significant improvement after the past NPP government spent GH¢30.3 billion in the financial sector clean-up exercise.

“Mr Speaker, the financial sector still struggles even after spending GH¢30.3 billion in the financial sector clean-up exercise by the end of 2024.

“This includes GH¢26.9 billion spending for the banks, Savings & Loans companies, Financial Houses, Micro-Finance Institutions, and Asset Management companies,” Dr. Forson stated.

He further explained that the sector requires an additional GH¢10.45 billion to address the remaining financial sector legacy issues and emerging risks.

“Mr. Speaker, the sector requires GH¢10.45 billion to address the remaining financial sector legacy issues and emerging risks,” he noted.

The Finance Minister has revealed that the National Investment Bank (NIB) and the Agricultural Development Bank (ADB) require a capital injection of GH¢2.2 billion to ensure their full capitalisation.

“An amount of GH¢2.2 billion is required to fully capitalize NIB and ADB,” he stated.