David Ofosu-Dorte, Senior Partner at AB & David Africa, has predicted that one of the defunct banks, UT Bank or GN Bank, could soon return to Ghana’s financial market, signaling a potential shake-up in the sector. Speaking at the 2025 Crystal Ball Event, Ofosu-Dorte suggested that at least one of these two banks could have its license reinstated, marking a significant shift in the banking landscape.

Ofosu-Dorte also noted that MTN’s transition into banking could add further disruption. “MTN has already announced plans to become a bank. It will become more real soon, and that will make a lot of traditional banks nervous,” he remarked.

The predictions come on the heels of a major banking sector cleanup in 2017, which saw several banks lose their licenses due to insolvency and regulatory issues. Ofosu-Dorte’s forecast suggests that Ghana’s financial ecosystem could soon experience increased competition and innovation, particularly with MTN’s move into the market.

Additionally, he hinted at potential changes within the Development Bank Ghana (DBG), adding further intrigue to the country’s evolving financial landscape. The combined effect of these changes could offer new opportunities for consumers and investors but could also challenge the dominance of existing banks.

These developments are expected to keep the financial sector on its toes, as reforms continue to shape the future of banking in Ghana.

Source:TheDotNews