The Deposit Insurance Corporation of Malawi undertook a high-level benchmarking visit to the Ghana Deposit Protection Corporation (GDPC).. The visit provided a valuable opportunity to exchange experiences, learn from Ghana’s deposit insurance journey, and deepen our understanding of how financial safety-net players can effectively collaborate to safeguard financial stability. In that regard, the Malawi Delegation held discussions with the Bank of Ghana and the Ministry of Finance of the Government of Ghana.
A key objective of the visit was to understand the coordination and collaboration mechanisms among the three financial safety-net players in Ghana, namely: – the Bank of Ghana, Ministry of Finance, and the GDPC. Effective cooperation among these institutions is critical in promoting financial stability, managing crises, protecting depositors, and maintaining confidence in the financial system.
Discussions with GDPC covered the policy and legal frameworks that informed the creation of the scheme, governance arrangements, funding mechanisms, public awareness initiatives, and the practical challenges encountered during implementation.
On the other hand, the visit to the Bank of Ghana provided an opportunity to appreciate the central bank’s role in financial sector oversight, crisis preparedness, and coordination with other safety-net participants. Discussions focused on supervisory cooperation, information sharing, resolution planning, and the importance of a well-coordinated institutional framework in preserving financial system stability.
Engagements with the Ministry of Finance offered valuable perspectives on the Government’s role in supporting financial-sector stability, developing enabling legislation, and facilitating effective collaboration among safety-net institutions. The deliberations underscored the importance of strong policy alignment and clear institutional mandates in ensuring the effectiveness of a deposit insurance system.
For the DIC, the visit reaffirmed the value of international cooperation and peer learning. As a relatively young institution, DIC remains committed to drawing lessons from established deposit insurers to strengthen its institutional capacity and support the continued development of Malawi’s deposit insurance system. The DIC extends sincere appreciation to the GDPC, the Bank of Ghana, and the Ministry of Finance for their warm hospitality, openness, and willingness to share their valuable experiences.
