Assessing the Impact of the 2017-2020 Banking Crisis in Ghana: The Way Forward

Assessing the Impact of the 2017-2020 Banking Crisis in Ghana: The Way Forward | Authorea try { document.documentElement.classList.add('js'); } catch (e) { } var _gaq = _gaq || []; _gaq.push(['_setAccount', 'G-8VDV14Y67G']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Skip to main content Preprints Collections Wiley Open Research IET Open Research Ecological Society of Japan All Collections About About Authorea FAQs Contact Us Quick Search anywhere Search for preprint articles, keywords, etc. Search Search ADVANCED SEARCH SCROLL This is a preprint and has not been peer reviewed. Data may be preliminary. 9 September 2025 V1 Latest version Share on Assessing the Impact of the 2017-2020 Banking Crisis in Ghana: The Way Forward Authors : Emmanuel Osei-Dwomoh and Gabriel Osei Forkuo 0000-0001-8478-8066 Authors Info & Affiliations https://doi.org/10.22541/au.175743432.20853313/v1 265 views 105 downloads Contents Abstract Supplementary Material Information & Authors Metrics & Citations View Options References Figures Tables Media Share Abstract The 2017-2020 banking crisis in Ghana had far-reaching consequences for the nation's financial industry, which has continued to grapple with the economic, social, and governance effects. This study assesses the impact of the crisis on financial stability, public trust, and economic growth, and proposes a way forward to build a more resilient banking sector. A mixed-methods approach was used, combining quantitative and qualitative data. A structured questionnaire was administered to 500 bank customers and other stakeholders affected by the crisis. Additionally, 20 purposive interviews were conducted with bank personnel, regulators, and economists. Data were analyzed using descriptive statistics, t-tests, chi-square tests, ANOVA, and multiple regression analysis to determine the impact and evaluate the effectiveness of policy responses. The crisis was found to have a significant negative impact on financial stability, with the mean stability score dropping from 75.4 before the crisis to 62.7 after (p < 0.001). It severely eroded public trust in banking institutions (χ² = 48.23, p < 0.001) and negatively affected economic growth. Key causes identified include poor corporate governance, high levels of non-performing loans (NPLs), and regulatory weaknesses. The findings underscore the severe economic and social costs of the banking crisis. To rebuild a resilient financial sector, Ghana must focus on strengthening regulatory frameworks, enhancing corporate governance and risk management, improving consumer protection, and promoting financial inclusion. An integrated approach is crucial for restoring confidence and ensuring long-term stability. Supplementary Material File (manuscript_de_preprint.pdf) Download 258.75 KB Information & Authors Information Version history V1 Version 1 09 September 2025 Copyright This work is licensed under a Non Exclusive No Reuse License. Keywords banking crisis corporate governance economic growth financial stability ghana regulatory reform risk management Authors Affiliations Emmanuel Osei-Dwomoh Controller and Accountant General's Department View all articles by this author Gabriel Osei Forkuo 0000-0001-8478-8066 Department of Forest Engineering, Forest Management Planning and Terrestrial Measurements, Faculty of Silviculture and Forest Engineering, Transilvania University of Brasov View all articles by this author Metrics & Citations Metrics Article Usage 265 views 105 downloads .FvxKWukQNSOunydq8rnd { width: 100px; } Citations Download citation Emmanuel Osei-Dwomoh, Gabriel Osei Forkuo. Assessing the Impact of the 2017-2020 Banking Crisis in Ghana: The Way Forward. Authorea . 09 September 2025. DOI: https://doi.org/10.22541/au.175743432.20853313/v1 If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. 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