Bank of Africa starts operations

Bank of Africa-Ghana (BOA) intends to penetrate the country’s economy with its innovative service and strategic initiatives meant to optimise growth and stability, Mr. Kobby Andah, Managing Director Bank of Africa (BOA)-Ghana has said.

“The bank brings to the country’s financial sector its internationally renowned commitment to the development of every society it reaches.

“We are here to improve upon the existing offerings of Amalbank and to be a pacesetter in banking, and to be an exemplary archetype for our competitors.
“Our 3.5 billion euro balance sheet is an indication of our solid financial muscle, and this gives us the financial means to take more bigger syndicates to help grow the economy,” Mr. Andah told B&FT in an interview after a media briefing held in Accra.


Mr. Andah, making a presentation in Accra under the theme “A new milestone, a better partnership”, said: “Our agenda for the coming years will simply be to constantly commit ourselves to our mission of offering innovative and convenient financial solutions to meet the needs of our customers. With the benefit of the Group’s experience and support, the drive into Retail and SME markets will continue with even more passion.”

He indicated that more emphasis will continue to be placed on strategically expanding its branch network -- to serve the Retail and SME markets and facilitate cross-border trade within the West African sub-region.

Mr. Stephen Ata, Chairman of BOA-Ghana indicated that “Having an international scope but an African base affords the bank the ability to deal across several sectors and demographics, and also anticipate and understand customer needs so as to provide innovative but practical solutions.”

The BOA-Ghana was officially launched last week after it entered into an agreement with Amalgamated bank and acquired the majority of its shareholdings.

The celebratory occasion, with the unveiling of the newly-rebranded logo and a recount of what the Ghanaian community should expect from the Pan-African bank, was also slated to introduce the Group to Ghanaians -- not as the typecast ‘new bank’, but as a reformed and evolved structure operating with international credibility and hoping to make a difference in the community.

The Bank of Africa Group is a privately-owned, multinational financial service provider that has consistently impacted numerous African nations, with Ghana being the 15th addition.

Their aim of explicitly defining community banking in every endeavour is one that – judging from record - will certainly be fulfilled in the country.

Their value of establishing personal ties with clients and enriching their lives through various community projects has impacted many Africans in the 15 countries within which it operates.