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Business News of Friday, 30 August 2019


Arise B.V. acquires 14.1% of issued shares in Ecobank

CEO of Data Bank, Kojo Addae Mensah CEO of Data Bank, Kojo Addae Mensah

Databank Brokerage Limited has announced that Arise B.V. has on 26th August 2019 acquired 14.1% of the issued shares in Ecobank Transnational Incorporated (“ETI”).

According to a statement issued by Databank, the transaction was executed in Ghana and involved the purchase of 3,487,337,828 ordinary shares of ETI, which are listed on the Ghana Stock Exchange.

“These shares were previously held by the International Finance Corporation (‘IFC’, a member of the World Bank Group), and investment funds managed by IFC Asset Management Company (‘AMC’, a wholly owned subsidiary of IFC),” the statement said.

Arise B.V. is a leading equity investor in financial institutions in Sub-Saharan Africa with a combined asset value in excess of USD 740 million.

Its mandate is to capitalize and stimulate growth across all financial services sub-sectors and within SSA.

Through partnering with financially sustainable Financial Service providers (FSPs) and helping them to become industry leaders in their respective markets, Arise aims to contribute to the economic growth potential of Africa, whilst at the same time achieving long- term investment returns.