Databank Brokerage Limited acts as Sponsoring Broker for inaugural listing on the Ghana Alternative Market (GAX)

Databank Brokerage Limited (DBL), Ghana’s leading brokerage house, has once again accomplished another ‘first’ in the securities market – Sponsoring Broker of the first security to be listed on the Ghana Alternative Market (GAX).

The GAX is a parallel market operated by the Ghana Stock Exchange which focusses on businesses with potential for growth. On 14th November, 2014 GAX experienced the inaugural listing of an eighty million (GHS 80 million) Note Program by Izwe Loans Limited.

This listing apart from being the first on the GAX is also the first local currency denominated debt security to be listed by a Non-Bank Financial Institution (NBFI) in Ghana. Databank is proud to be associated with this milestone. A total of GHS38.6 million made up of 4 tranches of the Note Programme was listed on the GAX by Izwe Loans Limited with Databank and Temple Investment playing the role of Lead Arrangers.

Consistent with Databank’s efforts in helping Ghanaians (both companies and individuals alike) achieve financial independence, the CEO of Databank Group, Mr. Kojo Addae-Mensah, in a speech at the inaugural ceremony, encouraged companies to take advantage of the GSE in sourcing long-term debt funding at competitive interest rates to support their operations.

DBL was founded in 1991 and is the brokerage arm of the Databank Group and a key player in the investment banking industry. Supported by Databank’s research hub, DBL has played major roles in listing securities on the Ghana Stock Exchange and has accomplished many first-time successes as well. DBL has constantly justified its leadership position in the Ghanaian Investment Industry and was adjudged the Broker-Dealer of the year 2013 at the Ghana Investments Awards.

For more information on Databank’s products and services please visit any of Databank’s branches in Accra, Tema, Kumasi or Takoradi. You may also visit Databank’s website, www.databankgroup.com, or call 0302 610610.