Gov’t Not Selling Ghana International Bank Shares – Beatrice Annan

A presidential staffer and member of the Bank of Ghana Board, Beatrice Annan, has denied claims that the Government of Ghana plans to sell its stake in the London-based Ghana International Bank (GHIB), describing the reports as false.

The clarification follows concerns raised by IMANI Africa Vice President Kofi Bentil, who suggested in public commentary that the government was considering divesting its shares in the bank.

The issue first gained attention last week after reports emerged that the board of GHIB had asked its Chief Executive Officer to step down. The reports did not provide reasons for the decision, sparking speculation about the circumstances surrounding the move.

Some accounts further suggested that the CEO’s removal was linked to his alleged opposition to a proposed plan to sell Ghana’s shares in the bank. However, there has been no official confirmation to support these claims.

Kofi Bentil later added to the discussion on social media, where he criticised recent financial decisions linked to the Bank of Ghana and raised concerns about the management of state assets.

“They sold 18 tonnes of gold and used it to reduce their losses. Then they floated a sale-and-leaseback of their office, which backfired. Now they are planning to sell Ghana’s shares in GHIB, London. Nkrumah must be rolling in his grave. Stay tuned,” he posted.

His comments triggered further debate among the public and increased calls for clarification from the relevant authorities.

In response, Beatrice Annan, a presidential staffer and member of the Bank of Ghana Board, firmly denied the claims and described them as false.

“This is a big fat lie. Kindly disregard makers of fake news who are gasping for scandals,” she wrote.

Her response remains the only direct official comment linked to government and Bank of Ghana circles so far.

However, the Bank of Ghana itself has not released any formal statement addressing either the reported dismissal of the GHIB Chief Executive Officer or the alleged plan to sell Ghana’s stake in the institution.

Following her response, Kofi Bentil made another post acknowledging the denial but also raising further questions about GHIB’s financial arrangements and possible external involvement.

“A clear position that GHIB shares won’t be sold is good,” he wrote.

“But question: Has the World Bank approved a $100 million loan for GHIB and expressed interest in injecting equity? What does that mean?”

His comments indicate that while one concern may have been addressed, other questions remain unanswered in public discussions.

The Ghana International Bank (GHIB), established in 1959, functions as a correspondent bank that supports Ghanaian financial institutions and businesses engaged in international trade, especially with the United Kingdom and other global markets.

Ghana’s stake in the bank is considered important for foreign exchange operations and trade finance, making it a key strategic financial asset.