Audio By Carbonatix
The Bank of Ghana has approved the sale of SSNIT’s interest in First Atlantic Merchant Bank to a Nigeria-based equity-firm Kaderi Nominees.Joy Business has learnt the approval was secured last week from the Central Bank.
This will now see Kaderi take over SSNIT’s 50 percent stake in the bank. First Atlantic thus becomes the second bank SSNIT is working to offload its stake in after the TTB.
Sources at SSNIT have told Joy Business they want to sell off their holdings in some banks because it has become increasingly difficult to meet their commitments. They argue the implementation of the pension reforms has resulted in a dip in their investments – necessitating such initiatives to generate more yields from their investments.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
What should e-commerce sellers check before expanding into new markets?
19 minutes -
Minority calls for stronger human rights safeguards in Security Bill
21 minutes -
Two killed, 14 injured in accident on Ho–Aflao Highway
36 minutes -
Surveillance provisions in Security Bill ‘deeply troubling’ – Minority
47 minutes -
Security Bill risks politicisation and weak financial accountability – Minority
52 minutes -
Churches to be monitored via digital registry – Local Gov’t Minister
56 minutes -
Security Bill flawed; centralises excessive power in presidency – Minority
1 hour -
Pressure will mount on Gold Board model as BoG exits gold trade financing – Finance Prof
1 hour -
Accountability Forum calls for forensic audit in COCOBOD finance
1 hour -
UBA unveils diaspora platform to connect global Africans with investment, wealth opportunities
1 hour -
What the deadly Burkina Faso ambush says about our unfinished Agric Promises
1 hour -
Unity is panacea to retain party in government – Asiedu Nketia to NDC faithful
1 hour -
Gov’t skills training programme creates employment and income opportunities – Muntaka
1 hour -
Prioritise dignity over sensationalism in reporting on children – Media urged
1 hour -
COCOBOD’s financial woes linked to cocoa road contracts – Roads Minister Agbodza
1 hour
