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Ghana Takes Back Control of Bank After `Questionable’ Deals
ACCRA (Capital Markets in Africa) – Ghana took back control of Agricultural Development Bank Ltd. after the regulator annulled deals for more than half of the lender’s shares following its initial public offering in 2016. The West African nation’s central bank regulator cancelled the holdings of Belstar Capital Ltd., Starmount Development Co., Ecobank Capital Ltd. and SIC Financial Services Ltd., which together held 52 percent in the lender known as ADB, Bank of Ghana said in a statement on Monday….
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