Bank of Africa Ghana Limited

Bank of Africa Ghana Limited, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator. the bank has 33 branches in 2015.[3]

Bank of Africa Ghana Limited
TypePrivate
IndustryFinancial services
Founded1997 (1997)
HeadquartersAccra, Ghana
Number of locations
23 branches
Key people
Kobby Andah, managing director
Ronald Marambii, Deputy managing director[1]
ProductsLoans, transaction accounts, savings, investments, debit cards
RevenueDecreaseAftertax:US$7.2 million (GHS:13.5 million (2011)[2]
Total assetsIncrease US$276 million (2015)
ParentBank of Africa Group
Websitewww.boaghana.com

BOA Ghana is a large financial services provider in Ghana. As of December 2011, the total asset valuation of the bank was estimated at US$300 million (GHS:735.5 million).[4] The bank is a member of Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in fourteen African countries, including Benin, Burkina Faso, Burundi, Democratic Republic of the Congo, Djibouti, Ghana, Kenya, Ivory Coast, Madagascar, Mali, Niger, Senegal, Tanzania and Uganda. The group also maintains an office in Paris, France.[5]

History

The bank was incorporated in 1997, as Amalgamated Bank Limited. In 2006, Meeky Enterprises of Nigeria, acquired 49% shareholding in AmalBank. At that time, Meeky was also a major shareholder in Oceanic Bank, a Nigerian financial services provider which was later acquired by Ecobank Nigeria. In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank rebranded to Bank of Africa (Ghana)[6]

Ownership

The stock of Bank of Africa (Ghana) is owned by the following corporate entities and individuals.

Bank of Africa (Ghana) Stock Ownership
RankName of OwnerPercentage Ownership
1Bank of Africa Group60.00
2Meeky Enterprises of Nigeria
3Others
Total100.00

Branch network

In 2015, the bank had 23 branches at the following locations:[7]

  1. Farrar Avenue Branch – C131/3 Farrar Avenue, Adabraka, Accra
  2. Amakom Business Office – 323 24 February Road, Amakom, Kumasi
  3. Adum Business Office – 10 Mission Road, Adum, Kumasi
  4. Maamobi Business Office – Hertz House, Nima Highway, Accra
  5. New Town Business Office – B Plaza, Hill Street at New Town-Pigfarm Road, New Town
  6. Accra Central Business Office – Ollivant Arcade, Accra Central
  7. Ridge Business Office – C875 A/3 Kanda Highway Extension, Ridge, Accra
  8. Michel Camp Road Business Office – Aseidua Plaza, Tulaku, Tema
  9. Spintex Business Office – Batsona-Spintex Road, Tema
  10. Tamale Business Office – 8 Daboya Street, Old Market, Tamale
  11. Osu Business Office – Cantonments Road, Cantonments, Osu
  12. Takoradi Business Office – 10 Market Circle, Takoradi
  13. Kwashieman Business Office – 248 Motorway Extension, Kwashieman, Accra
  14. East Legon Business Office – 38B Lagos Avenue, East Legon, Accra
  15. Dansoman Business Office – 300 Dansoman Estates, Dansoman, Accra
  16. Madina Business Office – Hollywood Road at Madina Zongo, Madina
  17. Abossey Okai Business Office – Mortuary Road, Abossey Okai, Accra
  18. Tema Business Office – Tema Town Centre, Tema
  19. Sokoban Agency – Office Space# 1, Sokoban Wood Village, Kumasi

See also

References
  1. "Key People At BOA-Ghana". Archived from the original on 25 January 2013. Retrieved 24 May 2012.
  2. December 2011 Financial Data
  3. List of Licensed Commercial Banks In Ghana Archived 25 September 2014 at the Wayback Machine
  4. "Guitarra e Teclado em Ghanaian Chronicle | redação, perda de barriga, música com guitarra e teclado importados nas crônicas de Gana". ghanaian-chronicle.com (in Brazilian Portuguese). Archived from the original on 13 July 2012. Retrieved 17 August 2017.
  5. "About Bank of Africa Group". Archived from the original on 30 January 2014. Retrieved 24 May 2012.
  6. AmalBank Acquired By Bank of Africa Group Archived 5 April 2012 at the Wayback Machine
  7. "Branches of Bank of Africa (Ghana)". Archived from the original on 25 January 2013. Retrieved 24 May 2012.
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