Tag: Sahel Sahara bank
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Panic withdrawals: Don’t be anxious of capital flight – Nana Otuo
Banking Consultant, Nana Otuo Acheampong has downplayed effects of the ongoing panic withdrawals that have hit local banks. It follows fears that the situation could lead to capital flights which will distort economic growth considering the magnitude of withdrawals that may be involved. The uncontrolled withdrawals embarked on by customers of banks and specialized deposit…
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Omnibank, Sahel Sahara to spend GH¢1.2m on merger
It will cost about one million cedis to complete the merger between Omnibank and Sahel Sahara bank. This is the information available to Citi Business News from management of the two banks. The disclosure comes on the back of the signing of a Memorandum of Understanding between the two banks. The merger process involves the…
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Omnibank, Sahel Sahara advance with merger process
Omnibank and Sahel Sahara bank are hopeful meeting of meeting the new minimum capital requirement by December 2018. The two banks which are in a process to merge say their hopeful that the stronger bank to be created will support the country’s financial sector. Following the Bank of Ghana’s no objection to the merger on…
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Nduom blames botched merger on breach of confidentiality
CEO of GN Group of companies, Dr Papa Kwesi Nduom has stated that the reason for pulling out of an initial merger that was supposed to take place between GN Bank, Sahel Sahara and Premium Bank was due to lack of confidentiality from one of the banks. In July, reports stated that the three banks…