News

KOFORIDUA, 3 September 2026 – The Ghana Deposit Protection Corporation (GDPC) has organised a Training of Trainers (ToT) workshop for Community Banks within the middle belt of the country.

The workshop, held in Koforidua on 3rd September 2026, brought together about 45 representatives of Community Banks. The initiative forms part of GDPC’s efforts to promote a better understanding of the Ghana Deposit Protection Scheme (GDPS) and the key areas of the newly passed Ghana Deposit Protection (Amendment) Act, 2026 (Act 1167).

In his introductory remarks, the CEO of GDPC, Mr. Galahad Alex Andoh Esq., stated that deposit protection is an important component of the financial safety net that protects eligible depositors in the event of the failure of a member institution, thereby, preserving public confidence in the financial system.

He stated that the amendments to the GDP Act are aimed at enabling the Corporation to better fulfil its mandate of protecting depositors and contributing to financial stability. He brought two of those amendments to the attention of participants:

“First, the mandate of the Corporation has been expanded to include the funding of other resolution methods as determined by Bank of Ghana. This provides greater flexibility in dealing with troubled institutions and strengthens the broader resolution framework,” he stated.

Mr. Andoh also highlighted the handling of coverage limit reviews following the passage of the Amendment Act.

“The Board of GDPC has been granted the power to adjust the coverage limit every two years, taking into consideration prevailing economic conditions. This is important because the level of depositor protection must remain responsive to changes in the economic environment and the circumstances of depositors,” he remarked.