The Bank of Ghana (BoG) has announced the conversion of all Rural Banks in the country into Community Banks as part of reforms in the microfinance sector.

The change takes immediate effect under the Guideline on the Revised Microfinance Sector Framework, 2026 (Notice No. BG/GOV/SEC/2026/03), with all existing Rural Banks now designated as Community Banks.

In a statement issued on June 17, the central bank said the affected institutions must complete all statutory name changes, corporate rebranding and regulatory requirements by December 31, 2026.

According to the BoG, the conversion marks a key step in the ongoing reform of Ghana’s microfinance industry and coincides with the 50th anniversary of rural banking in the country.

The central bank said the move is intended to position the sector to expand access to financial services in both rural and urban communities.

“Through this conversion, the Bank of Ghana is repositioning the Community Banking sector as a modern banking segment to deepen inclusive finance in both rural and urban communities and integrate them into the national financial architecture,” the statement said.

Rural banking was introduced in Ghana in 1976 by the Government of Ghana and the Bank of Ghana to improve access to financial services in rural areas and promote financial inclusion.

The BoG said the sector currently consists of 147 licensed institutions operating through about 1,000 branches nationwide and serving more than eight million customers.

According to the central bank, the growth of the sector has been supported by regulatory reforms, policy interventions and community ownership structures.

The Bank of Ghana did not indicate whether the conversion would affect the ownership or operations of the institutions but stated that all required regulatory and branding changes must be completed by the end of the year.