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Thursday 28 March 2024

2021-03-19

[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce

2021-03-17

[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker

2021-03-16

[B] Pursue demands through negotiation, arbitration – Telcos told
[B] Don’t approve new fuel levies – COPEC to MPs
[B] There’s no justification for newly proposed petroleum taxes – Wereko-Brobby

2021-03-15

[B] Ghana prepares to issue $5 billion Eurobond
[B] There’ll be ‘bitter hardship’ for Ghanaians because of 2021 budget – Forson

2021-03-14

[B] 2021 budget designed to lift Ghana out of challenges imposed by COVID – Alan
[B] I’ll support Agyapa deal 2,000% – MP Egyapa Mercer
[B] Notorious Wa thieves transporting pregnant goats involved in accident
[B] Ghana risks losing €258m earmarked for the 2nd phase of Kejetia market
[B] FDA calls on media to help flush out unregistered products from market
[B] Govt provides Ghs 42.8 million in operations and payroll support to STC et al

2021-03-13

[B] Gov’t introduces 10pesewas ‘borla’ tax to clean Ghana
[B] NLA to bring back Live Draws for 5/90 Lotto
[B] Minister gives Kejetia traders final warning ahead of demolition
[B] Domelevo lands top international job after forced retirement
[B] Trotros and Taxis to enjoy free income tax, hotels and restaurants to get 30%

2021-03-12

[B] AfCFTA expected to significantly promote peace and security
[B] 2021 Budget will ensure recovery and macroeconomic stability
[B] We’ll soon provide food items to schools – Buffer Stock Company
[B] Osei Kyei-Mensah-Bonsu appointed ‘caretaker Finance Minister’
[B] 2021 Budget: Ghana Employers' Association expects pragmatic initiatives

2021-03-11

[B] Corruption is not fought alone or quietly – Domelevo
[B] Nana Addo’s anti-corruption credibility is in tatters – Gyimah-Boadi
[B] Agyapa deal should be considered dead on arrival in Parliament – John Jinapor

2021-03-10

[B] UMB Signs agreement with NARMG to provide special loans to midwives
[B] Ghana will experience economic rebound in 2021—President Akufo-Addo
[B] Price of iced sachet water now 30p
[B] All national ID numbers to become tax numbers from April - President Akufo-Addo
[B] Government will engage Parliament about Agyapa deal – Akufo-Addo

2021-03-09

[B] Stop 'examining' foodstuffs before buying them – market women to buyers
[B] Ghanaians to use COVID-19 Vaccination App to book appointment
[B] GRIDCo Explains Sunday's Nationwide Power Shutdown

2021-03-08

[B] Cement price goes up
[B] Village Savings and Loans scheme empowering rural women in Adansi north
[B] Technology is key to speeding up the global gender equality agenda- NBSSI Boss

2021-03-07

[B] Ghana for 3 years was described as one of fastest growing economies - Akufo-Addo
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Business

[ 2017-10-05 ]

Access bank secures additional investment for its operations
Access Bank Plc, the majority shareholder of
Access Bank Ghana, which is ranked as one of the
top 3 banks in Nigeria and amongst the top 20
banks in Africa by assets and capital, has
announced its intention to inject additional
capital into the Bank’s operations in Ghana
before end of Q1 in 2018 after all regulatory
requirements are fulfilled.

The Tier 1 capital forms part of the Bank’s
recapitalization exercise, which began last year
with the Bank selling its shares through an IPO
and subsequently being listed on the Ghana Stock
Exchange as the first Ghanaian Bank with Nigerian
heritage.

While this move will enable Access Bank Ghana meet
the new capital requirement of GHS 400 million set
by the Bank of Ghana, the new capital is also
expected to enhance the capacity of Access Bank
Ghana to undertake large ticket transactions in
key sectors of the economy.

Group Managing Director/CEO of Access Bank Plc,
Mr. Herbert Wigwe, noted that Ghana is an
important market within the Access Bank Group and
its impressive performance over the past eight (8)
years provides the basis for further investments
to boost its growth aspirations.

He said: “Our new investment into Access Bank
Ghana signals the confidence and trust we have in
the Ghanaian economy as a safe, peaceful and
thriving place to do business.  In pursuing the
Bank’s vision of building the World’s Most
Respected African Bank, we are making strategic
decisions in the various markets we operate to
position our banking franchise favorably in the
market to support the development agenda of the
economies”.

Welcoming the news, the Managing Director of
Access Bank Ghana, Mr. Dolapo Ogundimu noted that
the new capital would strengthen the capital base
of the Bank and enable it to take advantage of new
business opportunities in the operating
environment.

“The Bank of Ghana had long stated its plan to
increase the minimum capital requirement for banks
in Ghana so we have always had this under our
radar as it was also consistent with our strategy
to build a sustainable bank”.

He further assured customers and other
stakeholders of the Bank’s well cushioned
liquidity and capital base to drive its business
strategy in the coming years.

The news of additional investment by Access Bank
Plc demonstrates the long standing partnership
between Access Bank Ghana and its majority
shareholder. When launching its operations in
2009, Access Bank Ghana was quoted as one of the
most capitalized banks in the country and intends
to keep this reputation as it drives its strategy
to become one of the top tier banks in Ghana.

Source - citibsinessnews.com



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