Global ratings agency, Fitch, has flagged that six banks operating in Ghana are unlikely to meet capital adequacy requirements through their own earnings alone.
In its latest assessment, Fitch warned that the affected institutions may require fresh capital injections, consolidation with stronger banks, or additional regulatory forbearance to remain compliant.
According to the agency, two of the undercapitalised banks are state-owned. Despite receiving previous government support, they are expected to need further capital injections though Fitch cautions this may not materialize before the end of 2025. Without new funding, these banks could be forced to merge with or be acquired by more resilient peers.
The ratings firm’s warning contrasts with the broader outlook for Ghana’s banking sector, which appears to be on firmer ground. Data from the Bank of Ghana shows that the industry’s capital adequacy ratio, excluding regulatory reliefs, improved significantly from 8.7 percent in February 2024 to 18.2 percent by June 2025.
This improvement indicates that most banks are expected to remain comfortably above compliance thresholds even after the final phase of losses from the domestic bond restructuring is accounted for at the end of the year.
While the sector overall shows signs of strengthening, Fitch’s caution highlights persistent vulnerabilities among a handful of banks, raising concerns over potential consolidations and the future stability of the state-owned institutions.