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Republic major owner of Ghana bank

After several attempts, Republic Bank Limited finally has majority ownership of HFC Bank (Ghana), with increased shareholding of 57.11 per cent, following a successful offer to the shareholders of HFC Bank.

This brings to five, the number of banking subsidiaries within the Republic Bank Group.

The offer period closed on May 7, after remaining open for the regulatory period of 30 working days. Republic Bank owned 40 per cent shareholding of the HFC Bank, prior to the commencement of the offer period.

Republic Bank Limited said in a Press release that with 57.11 per cent shareholding in the Ghanaian bank it now had the mandate to partner with HFC to introduce banking innovations and modern trends.

“This achievement also cements a key cornerstone in the Republic Bank’s strategy for sub-Saharan Africa,” it said.

Managing director of Republic Bank Limited, David Dulal-Whiteway, thanked all stakeholders and well-wishers for their support during the process, saying that he looked forward to “steering HFC Bank towards becoming one of the leading banks in the country”.

Source: (PR)

One Response to Republic major owner of Ghana bank

  1. Tony Webster May 16, 2015 at 6:00 am

    Q: Why does Republic Bank, go and invest share-holders’ precious cash, “all the way over in Ghana”, instead of right here in Barbados (or St. Lucia, or Venezuela)?
    A 1: Well , capital (and I.T.C.) travels at the speed of light, so distance is no consideration.
    A 2: Dividends, will also come back to Trinidad , in US$, also at the speed of light.
    A3: They will install their own top people in key positions, however.
    A 4: There is more opportunity for economic growth in Ghana, than there is here in Bim.
    A 5: They Ghanians have a very good governance and economic record.
    A 6: Their elections have in the last couple decades, passed the “sniff test”. Ditto, “ease of doing business”, and “Judicial efficacy” indicies”
    A 7: They have vast un-tapped resources, both of the natural kind; the H.R. kind; the business-acumen kind; and the political animal-kind.
    A 8: The Republicans can see that the target bank, just needs better management.
    A 9: They are spreading their geographical risk, outside of the “Caribbean basin” (for no good reason at all… and because they know that Cuba’s inpact on Caribbean Tourism, and Caribbean everything…is irrelevant).
    Proof: Complete the sum above, and you will arrive at…not 9 reasons, but 45….possibly owing to the fact that most things…are greater than the simple sum of their parts.
    Yep, anudder Q.E.D.
    PS: I hope CAL might open up a couple scheduled flights to the (ex dark, now shining) continent soon. Donville…get ready, get set…


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