Trinidad Republic Bank acquires stake in a Ghanian bank

[theworldismine13]

Trinidad Republic Bank acquires stake in a Ghanian bank

Republic Bank acquires stake in a Ghanian bank - Caribbean360

Swiftly on the heels of the recent conclusion of its full takeover of its subsidiary in Barbados, Republic Bank Ltd. has revealed expansionist plans into Africa.

Republic Bank has confirmed that it recently purchase of an 8.9 per cent stake in HFC Bank in Ghana, which managing director David Dulal-Whiteway indicated is part of the bank’s express strategy to expand into regions outside of its traditional Caribbean markets.

Dulal-Whiteway said the bank had been considering a number of overseas interests over the last few years, and decided on the HFC opportunity, following HFC’s recent private placement to raise 50 million Ghana cedis. Republic Bank’s investment in the shares of HFC is put at US$8 million.

In a statement, Dulal-Whiteway said the investment in HFC will open up for Republic Bank’s local business clients, new opportunities to do business on the African continent. “Africa, and in particular Ghana has been a key growth area for international business, and several of our Trinidad and Tobago corporate clients have been actively exploring those markets.”

He also noted that Republic Bank’s strong knowledge of oil and gas financing business here in the Caribbean would prove beneficial to the African bank.

According to Ghanaian media, HFC needed the injection of funds to meet the Bank of Ghana’s 60 million minimum capital requirement and the Republic Bank acquisition has equipped the bank to increase its stated capital to 95 million Ghana cedis.

According to JOY-BUSINESS, Republic Bank was reportedly in negotiations to take over a Ghanaian bank, but the HFC share acquisition appears to have come about after that deal was not successful.

 

[88m3]

Sounds dubious

 

[theworldismine13]

Sounds dubious

it sounds great, african americans, caribbeans and africans need to start doing business together

 

[88m3]

it sounds great, african americans, caribbeans and africans need to start doing business together

Hey I'm all for it. Putting 8 million dollars into an underfunded bank in a country facing coups doesn't seem bright. I hope five to ten years down the road this doesn't blow up in their face or ends up being a drug/money laundering operation. Also maybe they put some more money into fixing their local economy first instead of heading abroad.

 

[theworldismine13]

Hey I'm all for it. Putting 8 million dollars into an underfunded bank in a country facing coups doesn't seem bright. I hope five to ten years down the road this doesn't blow up in their face or ends up being a drug/money laundering operation. Also maybe they put some more money into fixing their local economy first instead of heading abroad.

what the hell are you babbling about, first off all its not the government make an investment, the government should put money intothe their local economy, a bank is a private business, money goes where there is money to be made, the bank is expanding because trinidad already has one of the biggest economies in the caribbean and ghana has one of the biggest economies in africa and they both have oil and gas, it makes total sense

and ghana is not facing a coup, its one of the most stable in africa
http://www.the-coli.com/higher-lear...nt-declared-election-winner.html#.UMo0sKxrT68

you're a clown b

 

[88m3]

what the hell are you babbling about, first off all its not the government make an investment, the government should put money intothe their local economy, a bank is a private business, money goes where there is money to be made, the bank is expanding because trinidad already has one of the biggest economies in the caribbean and ghana has one of the biggest economies in africa and they both have oil and gas, it makes total sense

and ghana is not facing a coup, its one of the most stable in africa
http://www.the-coli.com/higher-lear...nt-declared-election-winner.html#.UMo0sKxrT68

you're a clown b

 

[Real Talk of NY]

it sounds great, african americans, caribbeans and africans need to start doing business together

Trinidad is not your typical black caribbean nation. Indians took that place over. Republic bank is not black owned or operated in any way. The Indians in Trinidad run all business and government there. Blacks can't even get loans. That place is corrupt. Those Indians know how to exploit blacks, so they figure they'd expand to a larger market.

 

[theworldismine13]

Trinidad is not your typical black caribbean nation. Indians took that place over. Republic bank is not black owned or operated in any way. The Indians in Trinidad run all business and government there. Blacks can't even get loans. That place is corrupt. Those Indians know how to exploit blacks, so they figure they'd expand to a larger market.

oh thats interesting, i didnt know that, that certainly puts a damper on things lol, but caribbean- african business is still a good thing overall

 

[88m3]

oh thats interesting, i didnt know that, that certainly puts a damper on things lol, but caribbean- african business is still a good thing overall

you're a clown b

 

[Jhoon]

Indians aren't running the country like that.