A high-level delegation from Malawi has praised Ghana for its steady progress in strengthening deposit insurance systems and promoting financial sector stability, following a study visit to the Ghana Deposit Protection Corporation (GDPC) in Accra.
The five-member delegation, led by Dr. Cliff Kenneth Chiunda, Malawi’s Secretary to the Treasury, is in Ghana to understudy best practices in deposit insurance operations, institutional coordination, and financial stability frameworks.
The visit forms part of Malawi’s broader efforts to enhance its own deposit protection regime and improve regulatory collaboration within its financial system.
The delegation—comprising senior officials from the Reserve Bank of Malawi and the Deposit Insurance Corporation of Malawi—held extensive engagements with Ghanaian counterparts on key areas including bank resolution mechanisms, risk surveillance, and inter-agency policy coordination.
Speaking during the visit, Dr. Chiunda commended Ghana for making significant strides in building a robust and credible deposit protection system.
He noted that Ghana’s experience offered practical insights for countries seeking to strengthen financial safety nets and build public confidence in their banking sectors.
“We are impressed by the level of institutional coordination and the progress Ghana has made in operationalising its deposit insurance framework,” he said.
“The lessons learned here will be instrumental in shaping Malawi’s ongoing reforms.”
He further expressed appreciation for the openness of Ghanaian institutions in sharing knowledge and best practices, indicating that the engagement would support Malawi’s efforts to fortify its financial stability architecture.
Welcoming the delegation, Deputy Minister for Finance, Thomas Nyarko Ampem, underscored the vital role played by the GDPC in safeguarding depositors and reinforcing trust in the financial system.
He stressed that maintaining financial stability remained a key priority for government, adding that strong institutional collaboration—particularly between the Ministry of Finance, the Bank of Ghana, and the GDPC—is critical in achieving this objective.
“The Ghana Deposit Protection Corporation is central to our financial safety net, ensuring that depositors are protected while reinforcing confidence in the banking sector,” he stated.
Officials from the Ministry of Finance highlighted ongoing efforts to strengthen coordination among financial regulatory bodies. These include joint monitoring of systemic risks and vulnerabilities to enable timely and proactive policy interventions.
The Ministry also outlined a range of measures aimed at enhancing market efficiency and supporting legal reforms within the sector. Among these is the recently enacted GDPC (Amendment) Act, 2026 (Act 1167), which is expected to further strengthen the operational framework of the Corporation and improve depositor protection mechanisms.
The visit provided a platform for both countries to deepen bilateral cooperation and exchange technical knowledge on deposit insurance and financial sector stability.
It also reinforced the growing importance of cross-country collaboration in tackling emerging financial risks and strengthening institutional resilience.
Observers note that such engagements are increasingly critical as African economies work to build more robust financial systems capable of withstanding shocks while promoting inclusive growth.
The Malawian delegation is expected to continue its engagements with key stakeholders in Ghana’s financial sector, as it seeks to translate lessons learned into actionable reforms back home.
Source: businesspostonline
