Actis exits GHL Bank

20 May 2020

Actis, a leading investor of private capital into global emerging markets, announced today that it has exited its majority stake in GHL Bank, a full-scale commercial bank in Ghana, to First National Bank Ghana, a 100% subsidiary of FirstRand Group. Actis took over the investment in 2019 when it took over the management of Abraaj Africa Fund III.

The transaction has received the required regulatory approvals from the Bank of Ghana and the South African Reserve Bank.

The fund invested in GHL Bank in 2016, and enabled the company to leverage its unique value proposition as the leading mortgage provider in Ghana to achieve the transition into a full-scale commercial bank focused on the retail sector. The original investment thesis was premised on GHL’s robust mortgage model, deep knowledge of the retail customer and the significant growth opportunities that exist within this segment of the Ghanaian banking industry.

This is the third exit from the Abraaj Africa funds since Actis assumed management rights and follows Actis’ sale of the fund’s stake in Custodian & Allied Insurance Plc, a leading Nigerian insurance company and Fan Milk International (FMI), a leading West Africa-focused food production company. The GHL exit builds on the firm’s excellent track record of exiting to strategic buyers in Africa, as illustrated with the recent exit of Compuscan to Experian plc for over US$250m in 2019. 

Actis is the largest private capital investment firm in Africa and the largest private capital real estate investor in the continent. It has US$4.5 bn invested in Africa spread across real estate, private equity investments, energy and infrastructure.

-END-

« Back to Member News

We’re on Clubhouse! Join the AVCA PE & VC Lounge for conversations about key trends driving African investment and… https://t.co/M7qS2knmrz

We look forward to welcoming @AbasiEneobong of @weare54gene and Biju Mohandas of @LeapFrogInvest at the upcoming AV… https://t.co/3Z72z8Vknw

RT @nickodonohoe: It’s important for us to consider the disproportionate economic impact the pandemic is having on women. Thanks to @AVCA_A…

Calling all first-time fund managers and GPs currently fundraising! We have limited slots available for the Pitch C… https://t.co/NhrxeB3fGA

Don't miss the panel 'Evolving Themes and Emerging Opportunities' with Adenia Partners' Managing Partner, Stephane… https://t.co/q6DVq0rNVZ

;