Belstar Capital is now set to sell its stake at ADB bank Ghana Limited
The move is believed to form part of the investment and project finance institution’s effort at raising the estimated Ghc600 million to secure its new shares at Unibank.
Earlier in the week, Belstar management had disclosed that she and the Unibank leadership had finalized plans to move Ghc600 million in additional capital into the bank to help position it under the new Bank of Ghana minimum capital policy.
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However, some quarters of the Ghanaian business public are of the view that Belstar’s move is also based on the company’s dissatisfaction with government’s decision to merge ADB (where she held significant shares) and NIB into a National Development Bank.
In a statement to the media on the proposed sale of its interest at ADB, Belstar’s management has indicated that she is giving government (the second major shareholder at ADB) the first option to buy the company’s interest at the bank and will only sell to any other investor/bidder, if government declines the offer.
Meanwhile, when the transactions are finalized (fresh capital moved), Unibank will officially join the first batch of Ghana’s commercial banks to meet the central bank’s new minimum capital requirement.
Additionally, while not certain by what percentage it would be: the fresh capital from Belstar will be recorded as debt and equity at Unibank.
Unibank joins first list of Ghana’s recapitalized banks
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www.primenewsghan.com/Ghana News
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