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Tag Archives: ADB

adb-uniBank merger would be in Ghana’s interest – Adom-Otchere

Empowering home-grown companies will be key to realizing the ‘Ghana Beyond Aid’ agenda as it will spark a major economic turnaround, broadcaster Paul Adom-Otchere has said. It is for this reason that Mr. Adom-Otchere views the controversial attempted merger between uniBank and adb as unfortunate. Commenting on the uniBank-adb saga on his Good Evening Ghana show on Metro TV, he said backing ...

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uniBank, adb saga: Misreported takeover ‘trivial’ – Casely Hayford

Sidney Casely Hayford

The saga over the purported takeover adb by uniBank is overblown and ultimately inconsequential, Financial Analyst Sidney Casely Hayford has said. “It is a trivial story. There is nothing in this. It has become a story in the media because the reporter who heard the story from wherever or whoever leaked the story to him didn’t quite understand what was happening,” he remarked on ...

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adb, uniBank saga: Shareholders chose profits over devt – Toma Imihere

Financial Analyst, Toma Imirhe has suggested that the decision to increase the profits of adb could have influenced the pledging of shares by some shareholders of the bank to uniBank. According to him, the continuous existence of government’s ownership in adb and the likelihood for the government to influence resource allocation, could have impacted the profits of the bank therefore ...

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Banker criticises basis for lifting adb’s suspension on GSE

Investment Banker, Mahama Iddrisu has said the decision by the Ghana Stock Exchange (GSE) to suspend the listing of ADB on the stock market was a hasty one. According to him, the GSE should have done due diligence before suspending adb from the listed companies. The Ghana Stock Exchange on Wednesday (March 7, 2018), suspended trading in the shares of adb following ...

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adb, uniBank saga: SIC-FSL did not pledge shares in adb

Citi Business News is learning that SIC Financial Services Limited (SIC-FSL) has not pledged its shares in adb to uniBank in fulfilment of an earlier financial commitment. This is contrary to earlier reports suggesting that the company, SIC FSL is part of a consortium of shareholders of adb who have pledged their shares to indigenous bank, uniBank. Per the move, uniBank ...

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GH¢400m capital, others triggered uniBank’s interest in adb

Mahama Iddrisu

Investment Banker, Mahama Iddrisu, has cited adb’s quest to meet the new minimum capital requirement of 400 million cedis as a possible reason for the pledge by some shareholders of adb to uniBank. The move Citi Business News also understands is to grow the base of uniBank to undertake huge transactions. Four shareholders of ADB comprising Belstar Capital, Starmount Development company, EDC ...

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Purported adb takeover by uniBank not approved – BOG

The Bank of Ghana has stated that it has not approved a purported takeover of adb by uniBank. uniBank is set to assume a controlling interest in adb after a consortium of shareholders pledged their shares, proceeds, entitlement and voting rights to Unibank. But speaking at the commissioning of the new Ecobank Head office in Accra on Wednesday, March 7, ...

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GSE suspends adb over purported ‘takeover’ by uniBank

adb logo

The Ghana Stock Exchange (GSE) has suspended the Agricultural Development Bank (adb) following a purported takeover of the bank by uniBank. A statement from the GSE said the action was taken pursuant to section 7 of the GSE Automated Trading rules. “With reference to Section 7 of the GSE Automated Trading Rules (ATS), the Managing Director of the Ghana Stock ...

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uniBank moves to control majority interest in adb

uniBank has confirmed to Citi News that it has gone into a transaction with four major shareholders of Agricultural Development Bank (adb) that has effectively given majority control of the state bank. It says the move follows the pledging of shares and voting rights of the consortium of shareholders in adb Bank. Belstar Capital, Starmount Development company, EDC as well ...

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2016 National Best Farmer receives fully furnished 3-bedroom house

The Ministry of Food and Agriculture, in collaboration with the Agricultural Development Bank (adb), has officially handed over the keys to a fully furnished three-bedroom house to the 2016 national best farmer, Robert Crentsil at Apra near Kasoa in the Central Region. Mr Crentsil, who hails from Ajumako Enyan-Essiam district in the Central Region, was adjudged the top prize for ...

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