Latest GHL Bank News
May 26, 2020
Africa Global Funds Word count: 246 Actis has exited its majority stake in GHL Bank, a full-scale commercial bank in Ghana, to First National Bank Ghana, a 100% subsidiary of FirstRand Group. Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account Actis has exited its majority stake in GHL Bank, a full-scale commercial bank in Ghana, to First National Bank Ghana, a 100% subsidiary of FirstRand Group. Actis took over the investment in 2019 when it took over the management of Abraaj Africa Fund III. The transaction has received the required regulatory approvals from the Bank of Ghana and the South African Reserve Bank. The fund invested in GHL Bank in 2016, and enabled the company to leverage its unique value proposition as the leading mortgage provider in Ghana to achieve the transition into a full-scale commercial bank focused on the retail sector. The original investment thesis was premised on GHL’s robust mortgage model, deep knowledge of the retail customer and the significant growth opportunities that exist within this segment of the Ghanaian banking industry. This is the third exit from the Abraaj Africa funds since Actis assumed management rights and follows Actis’ sale of the fund’s stake in Custodian & Allied Insurance, a Nigerian insurance company and Fan Milk International (FMI), a West Africa-focused food production company. The GHL exit builds on the firm’s excellent track record of exiting to strategic buyers in Africa, as illustrated with the recent exit of Compuscan to Experian for over $250m in 2019. Actis is the largest private capital investment firm in Africa and the largest private capital real estate investor in the continent. It has $4.5bn invested in Africa spread across real estate, private equity investments, energy and infrastructure. Stay Connected
GHL Bank Frequently Asked Questions (FAQ)
When was GHL Bank founded?
GHL Bank was founded in 2006.
Where is GHL Bank's headquarters?
GHL Bank's headquarters is located at 1 Kofi Annan Street, Airport Residential Area, Greater Accra.
What is GHL Bank's latest funding round?
GHL Bank's latest funding round is Shareholder Liquidity.
Who are the investors of GHL Bank?
Investors of GHL Bank include Actis Capital.