Audio By Carbonatix
The biggest financial institution in the Caribbean, Republic Bank has announced its decision to make a mandatory offer to the shareholders of HFC Bank.
The announcement was contained in a circular issued by the Ghana Stock Exchange to shareholders this morning.
If the offer is successful, it could lead to Republic Bank becoming the majority shareholder of HFC Bank and possibly take over the institution.
Republic is making this offer after the Bank of Ghana gave them the approval in April 11 and 14 to go ahead with the move.
The Caribbean Bank last year increased its shareholding in HFC Bank, but asked the Bank of Ghana for a waiver not to take over the bank then.
The Executive Director in charge of Risk Management at HFC who was recently nominated by Republic Bank told Joy Business last year that they don't want to rush the takeover.
According to them, they still need to get a deeper understanding of the Ghanaian market before they look at the option of a takeover.
Latest Stories
-
Why Gordon Asare Bediako matters for NPP 2028’s communication
4 minutes -
UPSA hosts 11th Business & Entrepreneurship Conference on ESG and Sustainability
15 minutes -
Strong public confidence boosts Ghana’s drive towards local vaccine production
35 minutes -
Strategy Execution for Results
42 minutes -
Teens need to press pause on late-night doomscrolling
42 minutes -
PIAC probes delayed Ehi–Dzodze road project amid concerns over oil revenue use
44 minutes -
Amb. Dr Samuel Ben Owusu calls for urgent action on Ghana’s water security
59 minutes -
Pan Africa AU Agenda 2063 Mission, IAWPA hold Africa Day Leadership Summit in Accra
1 hour -
Akatsi North MP calls for more teacher recruitment as district commissions new projects
1 hour -
Paternity Fraud Laws in Ghana: A balanced alternative to Compulsory Paternity Testing at Birth
1 hour -
Flooding in Accra: Over 30 Years of Doing Nothing
2 hours -
TI Ghana, GIPC intensify media campaign against fronting in business sector
2 hours -
“I suffered beatings, look at my marks” – Evacuated Ghanaian recounts alleged xenophobic attack in South Africa
2 hours -
Afanyi Dadzie Writes: Xenophobia, illegal migration and the hard truths we must face as Ghanaians
2 hours -
The NPP can only secure victory in 2028 with the right leadership choices at every level of the party
3 hours