GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Top Stories

Bayport, C.F.C Merger Will Grow Company After Approval- CEO

December 16, 2016
in Top Stories
Share on FacebookShare on Twitter

Managers of Bayport Financial Services have projected that a merger with CFC Savings and Loans will shoot the customer base of the company from 100,000 to 130,000.

You Might Also Like

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

The Diverse Currencies of Africa: Impact on Economic Growth

The merger which is yet to be approved by the Bank of Ghana(BoG) will move the company from financial services company into a savings and loans company.

Speaking to Citi Business News after the company presented its “Facts Behind the Figures” at the Ghana Stock Exchange, the Managing Director of Bayport Financial Services Limited, Mr. Kofi Adu Mensah was optimistic the merger if approved by the BoG will position the company as a leader in the industry.

According to him, the two companies operate in the same industry hence it will make business sense for the company to merge, subject to approval by the central bank.

“We have made proposal to the Bank of Ghana, it is not a merged company yet, but we hope that the Bank of Ghana will approve it. It is significant because like I said we are doing the same business with CFC Savings and Loans Company,” he said.

He disclosed that the two companies have the same majority shareholder which made the discussion for the merger successful.

“The majority shareholder is the same, we are competing in the same market why can we not leverage on our synergies and that is exactly what we are trying to do to make sure that we use the best out of the two companies to grow a bigger company. It is significant because it will give us a bigger market share to afford us the opportunity to grow bigger in the future,” he said.

Mr. Mensah assured that the merger if approved by the Bank of Ghana will not affect customers of both companies.

He pointed out that, the merger will rather benefit the customers of both companies since it will expand the capital base of the companies.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

(Via: CitiFM Online Ghana)

Tags: bankbank of ghanaBayport Financial Services LimitedBusiness_FinanceCFC SavingsCitigroupeconomyEconomy of GhanaGhana Stock ExchangeKofi Adu-MensahleaderloansLoans Companymajority shareholderManaging DirectorMergers and acquisitionsPersonal & Car LoansPersonal Services - NECPrimary dealersSavings and Loans CompanySubprime mortgage crisis

Related News

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

Prominent Ghanaian Leaders and Clergy Honor Late Apostle Dr. Michael Kwabena Ntumy at State House Funeral

by ghanastar
February 25, 2024
0

In a poignant ceremony held on Saturday, February 24, 2024, at the Forecourt of the State House, hundreds of mourners...

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

Vice President Bawumia Shares Inspiring Journey from Oxford University to Political Success

by ghanastar
June 17, 2023
0

In a heartfelt revelation of his life's journey, the Vice President of the Republic, His Excellency Dr. Mahamudu Bawumia, spoke...

The Diverse Currencies of Africa: Impact on Economic Growth

The Diverse Currencies of Africa: Impact on Economic Growth

by ghanastar
June 17, 2023
0

Africa, a continent rich in cultural diversity, is home to a vast array of currencies. With 54 recognized countries, each...

Suicide at Aburi Botanical Gardens: Man Found Dead

Suicide at Aburi Botanical Gardens: Man Found Dead

by ghanastar
January 14, 2023
0

A man, believed to be in his fifties, has died by suicide in the Aburi Botanical Gardens in the Eastern...

Next Post

ExxonMobil Shut Down Over Sack of 150 Workers

Theresa May Lauds Nana Addo's 'impressive' Election Victory

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com