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Agricultural Development Banks’ plan to kick start the process to list on the Ghana Stock Exchange would materialize before the end of the year.
Joy Business gathers that the Finance Ministry is currently working to convert the bank from a state institution to a private entity.
This is one of basic requirements for the bank to list on the local bourse.
The ministry last year suspended the move because of the December elections.
Sources say ADB has also secured the blessings of its second biggest shareholder, the Bank of Ghana to list. Government currently owns a 52 percent stake in the bank with remaining 48 percent held by the Financial Investment Trust an institution set up by the Bank of Ghana to manage its interest in ADB.
Meanwhile, ADB has joined hands with VANGUARD LIFE to sell funeral insurance product called ADB ABUSUA ANIDASO at its outlets to the public.
Marketing Manager of ADB, Lord Koramoa tells Joy Business they expect the partnership to improve their earnings significantly.
Managing Director of VANGUARD LIFE, Fiifi Simpson also tells Joy Business they see ADB as a credible partnership to sell their products to help improve insurance penetration in the country.
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