Tag: ADB
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adb’s profit after tax drops by 36% in 2020 1st quarter
The Agricultural Development Bank’s (ADB) profit after tax for the first quarter of 2020; dropped by 36%. It recorded 13.3 million cedis for the first three months of the year, down from the 20.82 million cedis recorded in the same period in 2019. An analysis of the first quarter performance of ADB by Citi Business…
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ADB to support agribusinesses and farmers to mitigate COVID-19 impact
The Managing Director of ADB, Dr. John Kofi Mensah, has announced that the bank will by the end of this week announce a support package for agribusinesses and farmers in the country due to the impact of the COVID-19 pandemic. He says players in the agriculture sector are a critical component of the bank’s operations,…
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ADB commits GH¢1m to Ghana’s COVID-19 fight
The Managing Director of Agricultural Development Bank (adb), Dr. John Kofi Mensah, has announced a GH¢1 Million package to support the government’s fight against the novel Coronavirus (COVID-19) pandemic. The decision according to Dr. John Kofi Mensah was taken at a Board Meeting last week. He says the amount is to be used to purchase…
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2019 National Best Farmer receives ¢536,000 cash prize from adb
The Agricultural Development Bank, adb, has presented a cheque prize of five hundred and thirty-six thousand cedis to the National Best Farmer for 2019. Charles Gyamfi’s prize is presented in fulfillment of the bank’s commitment to support the agric sector per its mandate. Charles Gyamfi, who emerged the National Best Farmer in 2019, beat off…
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GAT to own 13 percent stake in ADB after supporting with recapitalization
The Ghana Amalgamated Trust (GAT) is expected to hold at least a thirteen percent stake in the Agricultural Development Bank (ADB) following the injection of GH¢127 million into the operations of the bank. GAT, on January 21, 2020, completed the processes to support ADB to recapitalize to meet the minimum requirement set by the Bank…
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ADB receives GH¢127 million GAT support for recapitalization
The Agricultural Development Bank (ADB), has completed a private placement which is the issuance of shares to chosen investors, to attract some GH¢127 million into its operations to help it recapitalize. A notice sighted by Citi Business News on the deal said that the amount constitutes about eighteen percent of the newly issued share capital.…
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ADB gets approval to raise GH¢127 million from GAT
The Agricultural Development Bank (ADB) has announced that it has received approval to issue in excess of 39 million ordinary shares to the Ghana Amalgamated Trust (GAT) to raise GH¢127 million in order to help meet its minimum capital requirement. This is in fulfillment of ADB’s recapitalization of four hundred million cedis required of commercial…
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ADB is not delisting from stock market – Kofi Yamoah
The managers of the Ghana Stock Exchange have dismissed claims that ADB is planning to delist from the stock exchange. There have been reports that the new majority shareholders of ADB had taken the decision. But the Managing Director of the stock exchange, Kofi Yamoah insists that is not the case. “I have been privy…
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ADB seeks shareholders’ approval to raise GH¢380m for recapitalisation
ADB has announced that it will embark on a renounceable right to issue to raise 383 million cedis to help it meet the minimum capital requirement. This decision is however subject to shareholders’ approval at the bank’s Annual General Meeting. The AGM is scheduled for Thursday, December 20, 2018. According to ADB, it is also…
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Agric in focus: Agric startups lament low local investments
Access to funding may not be a challenge peculiar to farmers alone. This is because startups in the agric space providing modern techniques to boost production in the sector are facing the same challenge. In the following report, some owners of startups within the agric value chain, comment on the issue. Click to listen to…