No Result
View All Result
Tuesday, March 21, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Peasant farmers reiterate calls for construction of Pwalugu Multi-Purpose Dam

    ECG disconnects GRA, KFC, Ho Airport others from power grid

    GRA monitoring team retrieves over GHC85m revenue shortfall

    Finance Minister leaves for China for debt negotiations

    Ghana’s debt level frustrating businesses, individuals – IEA

    Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

    Volkswagen takes over the responsibility of vehicle assembly in Ghana

    CFAO opens ultra-modern Mercedes Benz showroom

    Govt pays outstanding coupons to individual bondholders

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

    BoG directs banks to submit prudential reports on sex-disaggregated basis

    AGM Petroleum Ghana relinquishes South Deep Water Tano block

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Peasant farmers reiterate calls for construction of Pwalugu Multi-Purpose Dam

    ECG disconnects GRA, KFC, Ho Airport others from power grid

    GRA monitoring team retrieves over GHC85m revenue shortfall

    Finance Minister leaves for China for debt negotiations

    Ghana’s debt level frustrating businesses, individuals – IEA

    Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

    Volkswagen takes over the responsibility of vehicle assembly in Ghana

    CFAO opens ultra-modern Mercedes Benz showroom

    Govt pays outstanding coupons to individual bondholders

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

    BoG directs banks to submit prudential reports on sex-disaggregated basis

    AGM Petroleum Ghana relinquishes South Deep Water Tano block

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Access bank secures additional investment for its operations

bycitibusinessnews
October 5, 2017
in Banking And Finance, News, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

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.

ADVERTISEMENT

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: Access bank/citibusinessnews.com/Ghana

 

 

Related Posts

Agriculture

Peasant farmers reiterate calls for construction of Pwalugu Multi-Purpose Dam

byEmmanuel Oppong

The Peasant Farmers Association of Ghana is urging the government to allocate funds for the construction of the Pwalugu multi-purpose...

Read more

ECG disconnects GRA, KFC, Ho Airport others from power grid

GRA monitoring team retrieves over GHC85m revenue shortfall

Finance Minister leaves for China for debt negotiations

Ghana’s debt level frustrating businesses, individuals – IEA

Gold Fields, AngloGold rule out merger after Ghana joint-venture deal

Volkswagen takes over the responsibility of vehicle assembly in Ghana

Next Post

South Africa’s Eskom asks McKinsey, Trillian to return $117MN

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.