Monday, 12 March 2018

Energy Bank to list on Ghana Stock Exchange


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Energy Commercial Bank has hinted of moves to list on the Ghana Stock Exchange to allow investors to own shares in the bank.

The Board Chairman of the bank, Dr Jimoh Ibrahim disclosed this in an interview during a Customer Cocktail Engagement in Accra.

According to Dr Ibrahim, even though the bank is not challenged with raising capital to meet the new Bank of Ghana minimum capital requirement, it has decided to offer an opportunity for Ghanaians to own a part of the company.

He said, “We’re going to do an Initial Public Offer to make Ghanaians own the bank; I’m going to resign my appointment as a board chairman. If you’re going to do IPO and people want to come in then you cannot continue to be the chairman so I’m going to drop out. Some of the board members are going to resign their appointments so that new people can come in…”

Dr Ibrahim is hopeful that Energy  Bank would meet the new minimum capital requirement before the December deadline. According to him, all the necessary works are underway.

He said, “It takes about 22 weeks so the process has started, some board letters will come out and then I think in about four weeks you should be seeing us in the market.”

The Bank of Ghana has given commercial banks up to December 31 this year to up their minimum capital level from current GHc120 million to GHc400 million.

Energy Bank Ghana Limited was incorporated in September 2009 as a privately owned institution. The Bank is licensed to carry out Universal Banking services. The bank formally commenced operations on 22nd of February 2011.
Energy Bank presently has 12 branches in four regions of the country and still
expanding.

Energy Bank believes that banking is all about creating satisfaction for its stakeholders, contributing to the growth of the national economy and impacting on the larger society by being a partner in the development process.


The Banks brand positioning statement is “supporting your aspirations”. Energy Bank, has a philosophy that, banking is all about creating satisfaction for the stakeholders, contributing to the growth of the national economy and impacting on the larger society by being a partner in the development process.

“Energy Bank, is thus, positioned to deliver customer centric services and satisfactions for all stakeholders, as well as creating value-laden sustainable partnerships.”

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