Tag: Ghana Amalgamated Trust
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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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Gov’t injects GHS800m into GAT after failed bond attempt
Ghana has pumped GHS800 million ($150 million) into a special purpose vehicle created to bail out banks that don’t have enough capital, according to four people with knowledge of the matter. Ghana Amalgamated Trust, or GAT, will be getting the funds from the finance ministry after dropping a plan to raise the money through a…
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Albert Essien chairs GAT as banks get GH¢2bn support
Renowned Banker Albert Essien, has been appointed as Board Chairman of the Ghana Amalgamated Trust (GAT). In a statement issued by the Finance Ministry, the former MD of Ecobank will work with Eric Nana Otoo as Managing Director of the company. The Ghana Amalgamated Trust (GAT) was set up by the government to support solvent…