GCB to start investment banking
GCB Bank Ltd., Ghana’s biggest lender, plans to transform its development-finance unit into an investment bank known as GCB Securities.
Staff for the unit have already been recruited, Managing Director Anselm Sowah told reporters in Accra.
GCB also plans to start a bancassurance business in partnership with a foreign-based insurer, he said, adding that the lender also wants to start work this year on opening new subsidiaries in English-speaking West African countries.
GCB has cut 300 of the 850 staff it took over in August 2017 from now-defunct UT Bank Ltd. and Capital Bank Ltd. and another 120 will leave this year, the MD said. The lender has 2,300 staff and 180 branches.
Source: Bloomberg
Related Posts
APA Apollo acquires majority stake in Tanzania’s Meticulous Insurance and Metro Life
APA Apollo Group has completed the acquisition of a majority shareholding in Meticulous General Insurance Company Limited and…
By
Jacqueline Karasha to take helm of SanlamAllianz Kenya
SanlamAllianz Kenya has appointed Jacqueline Karasha as Group Chief Executive Officer, effective 1 November 2026. She succeeds Dr.…
Unilever Nigeria reports 18% revenue surge to ₦184bn in Q3 2026
Unilever Nigeria Plc has reported revenue of N184 billion for the nine months ended September 30, 2026, an…
VFD Group appoints Ijeoma Emezie-Ezigbo as new Deputy Managing Director
VFD Group has appointed Ijeoma Emezie-Ezigbo as Deputy Managing Director, bringing a seasoned deal-advisory leader into its executive…
Gallery
