Ghanaian company invests $9 mil in Chicago black bank

In the Pan-African spirit, Chicago Ghanaians and African Americans have welcomed a $9 million investment by a Ghanaian company into a Bronzeville black bank to save it from collapsing.

Groupe Nduom of Ghana, which operates in West Africa and the United Kingdom, invested the money into the Illinois Service Federal Savings and Loan Association following a series of meetings with bank leaders and federal government officials. The bank, now known as ISF Bank, had been seeking new capital to revitalize its operations.

read more