Bank of Africa Ghana Limited explained

Bank of Africa Ghana Limited
Type:	Private
Location:	Accra, Ghana
Key People:	Abderrahmane Belbachir, managing director Fatoumata Gakou, Deputy managing director^[1]
Locations:	23 branches
Assets:	US$ 274,053,442.42 (GHS 3,225,754,896 (2023)
Revenue:	Aftertax:US$9,420,161.62 (GHS:111,911,520 (2023)^[2]
Industry:	Financial services
Products:	Loans, transaction accounts, savings, investments, debit cards
Parent:	Bank of Africa Group

Bank of Africa Ghana Limited, also referred to as BOA Ghana, is a commercial bank in Ghana. It is one of the commercial banks licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator. the bank has 33 branches in 2015.^[3]

BOA Ghana is a large financial services provider in Ghana., the total asset valuation of the bank was estimated at US$300 million (GHS:735.5 million).^[4] The bank is a member of Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in fourteen African countries, including Benin, Burkina Faso, Burundi, Democratic Republic of the Congo, Djibouti, Ghana, Kenya, Ivory Coast, Madagascar, Mali, Niger, Senegal, Tanzania and Uganda. The group also maintains an office in Paris, France.^[5]

History

The bank was incorporated in 1997, as Amalgamated Bank Limited. In 2006, Meeky Enterprises of Nigeria, acquired 49% shareholding in AmalBank. At that time, Meeky was also a major shareholder in Oceanic Bank, a Nigerian financial services provider which was later acquired by Ecobank Nigeria. In April 2011, majority shareholding (60%) in AmalBank was acquired by the Bank of Africa Group. AmalBank rebranded to Bank of Africa (Ghana)^[6]

Ownership

The stock of Bank of Africa (Ghana) is owned by the following corporate entities and individuals.

Bank of Africa (Ghana) Stock Ownership

Rank Name of Owner Percentage Ownership 1 Bank of Africa Group 60.00 2 Meeky Enterprises of Nigeria 3 Others Total 100.00

Branch network

In 2024, the bank had 25 branches at the following locations:^[7]

1. Amakom Business Office – 323 24 February Road, Amakom, Kumasi
2. Adum Business Office – 10 Mission Road, Adum, Kumasi
3. Maamobi Business Office – 165 Nima Highway, Accra
   1. New Town Business Office – B Plaza, Hill Street at New Town-Pigfarm Road, New Town Accra Central Business Office – Ollivant Arcade, Former UTC Building Accra Central
4. Business Centre Office – Ground Floor, The Octagon, Ridge, Accra
5. Michel Camp Road Business Office – Aseidua Plaza, Tulaku, Tema
6. Spintex Business Office – Adjacent Glory Oil Filling station, Batsona-Spintex Road, Tema
7. Tamale Business Office – 8 Daboya Street, Old Market, Tamale
8. Osu Business Office – No. F88/1, Cantonments Road(Oxford Street), Osu
9. Takoradi Business Office – 10 Market Circle, Takoradi
10. Kwashieman Business Office – No. 248, Motorway Ext., Kwashieman(Hong Kong), Accra
11. East Legon Business Office – 38B Lagos Avenue, East Legon, Accra
    1. Dansoman Business Office – No.C300 Dansoman Estates, Sahara Dansoman, Accra Madina Business Office – H/N B90, Near Hollywood-Madina Zongo Junction,Madina
12. Abossey Okai Business Office – Mortuary Road, Abossey Okai, Accra
13. Tema Business Office – Ground Floor, Heights of Greener pastures Plaza,Comm 1 Tema, Tema
14. Kejetia Business Office– Former S.A.T Building Kumasi, Kumasi
15. Wa Business Office- Block “B” Dobile Residential Area, IEPER Street Wa
16. Bolgatanga Business Office- Plot No. 394, Central Residential Area
17. Suame Business Office- Plot No. 2 Block T, S.K. Bonsu Storey Building, Tarkwa-Maakro Kumasi
18. Teshie Nungua Business Office- Parcel No 129, Block 6, Section 73, Nungua, Adjacent Kpeshie Divisional Police
19. Opera Square Business Office- No. D1, Opera Cinema Building Pagan Rd, Accra
20. Octagon Business Office- Ground Floor, The Octagon, Independence Avenue Accra
21. Airport Business Office- Plot No. 19, Holiday Inn Hotel Airport City, Accra

External links

• Bank of Africa Ghana Limited Homepage
• Bank of Africa Group Acquires 60% Ownership In AmalBank

See also

• Bank of Africa Group
• List of banks in Ghana
• AmalBank
• Economy of Ghana
• Bank of Africa Kenya Limited
• Bank of Africa Rwanda Limited
• Bank of Africa Tanzania Limited
• Bank of Africa Uganda Limited

Notes and References

1. Web site: Key People At BOA-Ghana . 24 May 2012 . https://web.archive.org/web/20130125235126/http://www.boaghana.com/aboutus/index.php?content=4 . 25 January 2013 . dead .
2. http://www.thebftonline.com/index.php/feature/206-bank-of-africa-ghana-moving-towards-growth December 2011 Financial Data
3. http://www.bog.gov.gh/index.php?option=com_content&view=article&id=82&Itemid=124 List of Licensed Commercial Banks In Ghana
4. Web site: Guitarra e Teclado em Ghanaian Chronicle redação, perda de barriga, música com guitarra e teclado importados nas crônicas de Gana.. ghanaian-chronicle.com. pt-BR. 2017-08-17. https://archive.today/20120713031722/http://ghanaian-chronicle.com/bog-okays-takeovers-in-banking-industry/. 13 July 2012. dead.
5. Web site: About Bank of Africa Group . 24 May 2012 . https://web.archive.org/web/20140130191920/http://www.boaghana.com/aboutus/index.php?content=7 . 30 January 2014 . dead .
6. http://www.ghanabusinessnews.com/2011/04/04/amalbank-to-become-bank-of-africa-%E2%80%93-ghana/ AmalBank Acquired By Bank of Africa Group
7. Web site: Branches of Bank of Africa (Ghana) . 24 May 2012 . https://web.archive.org/web/20130125235136/http://www.boaghana.com/aboutus/index.php?content=5 . 25 January 2013 . dead .