Aug 2013 Financial News

Republic Bank eyes oil and gas in Ghana

Aug 08, 2013

Republic Bank plans to focus on oil and gas in Ghana after increasing its shares in HFC Bank to 32.02 per cent, according to newspaper reports from the West African country. The bank initially purchased an 8.9 per cent stake in HFC in December 2012, and late last week increased its investment to 32.02 per cent, by acquiring shares previously held by the Aureos Africa Fund. This makes the bank the largest single shareholder in HFC Bank.

Republic Bank officials say they will be taking oil and gas financing expertise into Ghanaas HFC embarks on a new course. “Republic Bank has played a significant role in the oil and gas sector in Trinidad and Tobago and through its investment in and collaboration with HFC Bank, intends to bring that expertise and skill to Ghana for the benefit of this country’s energy industry and ultimately the people of Ghana,” a statement from the bank said.


Source:
Trinidad Guardian
Thursday August 8, 2013

http://www.guardian.co.tt/business/2013-08-08/republic-bank-eyes-oil-and-gas-ghana