GCB Bank PLC says it is pursuing an ambitious regional expansion strategy, with plans to acquire one of Liberia’s largest banks as it seeks to reposition itself as a cross-border financial institution.
Board Chairman Prof. Joshua Alabi disclosed that the bank is currently in active negotiations to take over the third-largest bank in Liberia.
If successful, the move could rank among the most significant outward investments by a Ghanaian bank in recent years.
The planned acquisition comes at a time of increasing competition within Ghana’s banking sector, driven by the growing presence of foreign institutions. This has pushed local banks, including GCB, to look beyond the domestic market for growth.
Speaking on the sidelines of the bank’s 32nd Annual General Meeting, Prof. Alabi said the expansion plan has been under consideration since late 2025.
“Now, you said it rightly, foreign banks are coming to Ghana. And what are we doing? I must say, we are also thinking the same… except that we’ve not announced it because it’s in the pipeline,” he said.
He revealed that a high-level delegation, led by himself and the Managing Director, has already visited Liberia to engage key stakeholders and advance the process.
According to him, the team held meetings with senior officials, including the Governor of Liberia’s central bank, the Chairman of the country’s investment fiduciary council, and the President.
“We met with the governor of their central bank… the chairman of their investment fiduciary council… and the president of Liberia to show an interest in moving into the Liberian market. As you see today, we are on the negotiating table, and I pray that that will yield results,” he added.
Beyond Liberia, GCB Bank is also considering expansion into other West African markets, including The Gambia and Burkina Faso, as part of a broader effort to strengthen its regional footprint.
Prof. Alabi said that the move is necessary for the bank’s long-term competitiveness. “If people come into our country to compete with us, we equally have to chase them in their country,” he said.
“We can’t continue to be a local champion. We must move out.”
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