THE Netherlands Development Finance Company (FMO) has taken a 15 per cent equity stake in Guaranty Trust Bank Ghana Limited. A statement issued by the bank said FMO’s 15 per cent acquisition reduces Guaranty Trust Bank of Nigeria’s holding to 70 per cent, while Alhaji Ibrahim, the Ghanaian partner and chairman also holds 15 per cent. It said FMO’s involvement in GT Bank Ghana created a Ghanaian-Nigerian-Dutch partnership that would enhance the bank’s image as a true international bank that would further boost its acceptability in the Ghanaian market. The managing director of the bank, Mr. Dolapo Ogundimu, said “this transaction is a milestone in the history of the bank and certainly shows that the Ghanaian economy does attract the needed direct foreign investment”. It said FMO’s equity stake in the bank would further enhance its international profile, adding that “as a leading European financial institution, the partnership will add value, especially in the areas of corporate governance and operating within international standards”. In 2004, the FMO granted a $25 million facility to Guaranty Trust Bank of Nigeria, enabling it to extend medium- and long-term funds and boosting its capacity to open letters of credit for its clients. The statement said the benefits of FMO partnership with the GT Bank, Ghana were numerous beyond bringing foreign direct investment (FDI) into the Ghanaian economy. It said the partnership also showcased the growth potentials in the domestic economy which inevitably would promote subsequent partnerships of Ghanaian companies and foreign investors. Graphic