Norfund’s Arise acquires 27.7% of CAL Bank

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Arise Investment, which is based in the Netherlands acquired the 27.7 percent shares of DPI — a private equity firm with assets in excess of US$1 billion under management.

DPI had worked with CAL Bank for four years.
Arise, which is a collaborative partnership between international companies, Norfund, FMO and Rabobank is a strategic investor in minority stakes in Sub-Saharan African Financial Service Providers (FSPs)

In addition, Arise Investment has a core aim of building strong and stable institutions that serve retail, Small and Medium Enterprises (SMEs), the rural sector, and clients who have not previously had access to financial services.

Speaking to Citi Business News, the Head of Investor Relations at CAL Bank Miss Dzifa Amegashie was optimistic the bank will continue to post growth in profit, asset, and returns on equity.

“The most important thing is that the new investor is fully approved by the board of CAL Bank and the new investor fully fits in with our plans for growing a leading bank in Ghana. We believe our growth in profit, assets and returns on equity will continue like we saw under the former investor,” she said.

She stated that the bank has posted good performance in almost all the areas of its operations.

Explaining how the new investors will contribute to the management of the bank, Miss Amegashie stated that the new shareholder will aid the bank to grow it retail franchise.

She stated that the bank will use technology and innovative means to expand it operations.

Source: citifmnoline.com

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