BoG to approve Merchant Bank's takeover by FirstRand

JOY-BUSINESS has learnt the Bank of Ghana is considering for approval, a request by Merchant bank over its takeover by First-Rand of South Africa.

The bank yesterday announced accepting a little over 176 million Ghana cedis from the second biggest finance group in South Africa to acquire 75 percent of its stake.

Sources say the request may not suffer any challenges since FirstRand is a reputable financial institution and none of Merchant bank's shareholders have also raised any objections to acquisition so far.

Story by Emmanuel Agyei / George Wiafe / Joy Business