CDH Holdings reviews focus and mission

Consolidated Discount House (CDH), a non-bank financial institution, today said it has reviewed its mission and repositioned itself for the challenges in the fast changing financial sector. In this regard, the company has decided to incorporate the holding company, CDH Financial Holdings Limited, which will provide managerial and financial services to three subsidiary companies under the CDH Group.

At a press conference in Accra, Mr Fred Apaloo, Managing Director of CDH Financial Holdings Limited, mentioned the companies as the CDH Discount Limited instead of Consolidated Discount House, CDH Securities Limited instead of the old name of Consodiscount Asset Management Limited and CDH Asset Management Limited which will be incorporated soon. Mr Apaloo said the new corporate structure formalises a new corporate mission "which seeks to re-position the company as a broad-based financial services company with an investment banking focus.

"In pursuit of this mission, the group will focus on the development of complementary money and capital market products". CDH Financial Holdings Limited, is a listed member of the Ghana Stock Exchange and offers a broad range of financial services to corporate and retail clients in brokerage, asset management, corporate finance and advisory services.

Mr Apaloo said traditional discount house services will continue through the new CDH Discount Limited with new emphasis on active secondary trading of money market instruments. Mr Tete Tevie, General Manager, Operations, said the change in focus is due to the fact that the situation which existed at the onset of the company where there was mistrust among the banks and investors no longer exists.

For a full profile of CDH refer Ghana Review International March 1998