Bank of Africa Ghana Limited

BANK OF AFRICA - GHANA (BOA-GHANA) Limited commenced operations in the country after obtaining its Banking License from the Central Bank on 11th November, 2011. The Bank's focus and commitment to developing deep relationships with customers have driven its growth in recent years.

Bank of Africa Ghana Limited
TypePrivate
IndustryFinancial services
Founded1999 (1999)
HeadquartersAccra, Ghana
Number of locations
26 branches
Key people
Kobby Andah, managing director
Youssef Benrhafiane, Deputy Managing Director (Business Development), Fatoumata Gakou, Deputy Managing Director (Credit and Control)[1]
ProductsAccounts, Savings & Investments Product, Digital Banking Services, Debit Cards, Consumer Loans, Business Loans & Overdrafts, Trade Finance, Treasury Services, Money Transfer
Revenue Ghana Cedis (GHS) 100.96 billion
Total assetsGhana Cedis (GHS) 100.96 billion
ParentBMCE Bank of Africa Group
Websitewww.boaghana.com


With a current branch network of 26 spread across 6 regions in Ghana, the bank’s expansion strategy is set to bring banking closer to its existing and potential clients. BANK OF AFRICA is focused on providing exceptional services that affords clients with convenience whiles meeting their banking needs. This has informed the bank’s continuous investment into technology to provide safe and secure banking and also improve customer experience. To further carve its niche as a customer focused and a model retail bank, BANK OF AFRICA adopted the Customer First Model where customers have the advantage of a one stop –shop service in the banking halls. The Bank has to its credit, five bespoke products, dubbed ‘customer-first’ which are unique to the Ghanaian market and specially designed to suit the needs of its retail customers.


In 2012, the bank launched its Business Centre to provide banking solutions to its Corporate and high-end SME clients at a one-stop shop. The Business Centre is well designed and staffed with the skills to serve all existing and potential Corporate and High-end SMEs operating in the bank’s chosen sectors.

BANK OF AFRICA - GHANA is a subsidiary of the Pan African banking conglomerate BANK OF AFRICA Group which is present in 18 other countries - Benin, Burkina Faso, Ghana, Ivory Coast, Mali, Niger, Togo, Senegal, Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Tanzania, Rwanda, Uganda, Democratic Republic of Congo and France. It began operations in 1982 in Bamako, Mali.


BOA Group’s majority shareholder, is Bank Maroccaine du Commerce Exterieur (BMCE Bank). BMCE Bank is Africa’s twelfth (12th) largest bank and is actively involved in Capital Market, Asset Management, Stock Brokerage, Consumer Credit, Asset Leasing, Credit Insurance, Custody and Advisory services


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)[2]

Ownership

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

Bank of Africa (Ghana) Stock Ownership
Principal Shareholders as at 31/12/2019
RankName of OwnerPercentage Ownership
1BOA WEST AFRICA98.01%
2ESTATE OF DR H.O.K ATA1.35%
3OTHER SHAREHOLDERS0.64%
Total100.00

Branch network

As at 2020 the bank has 26 branches at the following locations:

  1. Farrar Avenue Branch – C131/3 Farrar Avenue, Adabraka, Accra
  2. Maamobi Business Branch – Hertz House, Nima Highway, Accra
  3. New Town Business Branch – B Plaza, Hill Street at New Town-Pigfarm Road, New Town
  4. Accra Central Business Branch – Ollivant Arcade, Accra Central
  5. Michel Camp Road Business Branch – Aseidua Plaza, Tulaku, Tema
  6. Spintex Business Branch – Batsona-Spintex Road, Tema
  7. Osu Business Branch – Oxford Street, Osu
  8. Kwashieman Business Branch– 248 Motorway Extension, Kwashieman, Accra
  9. East Legon Business Branch – 38B Lagos Avenue, East Legon, Accra
  10. Dansoman Business Branch – 300 Dansoman Estates, Dansoman, Accra
  11. Madina Business Branch– Hollywood Road at Madina Zongo, Madina
  12. Abossey Okai Business Branch – Mortuary Road, Abossey Okai, Accra
  13. Tema Business Branch – Tema Town Centre, Tema
  14. Teshie Nungua Branch – Parcel No. 129 Block 6Section 73, Nungua
  15. Airport City Branch – Plot No.19 Holiday Inn Hotel Airport City, Accra
  16. Business Centre – Ground Floor, Block A & B, The Octagon
  17. Octagon Branch - Ground Floor, Block A & B, The Octagon
  18. Opera Square – Store No. 3 Rawlings Park, Opera Square

REGIONAL BRANCHES

  1. Amakom Branch – 323 24 February Road, Amakom, Kumasi
  2. Adum Branch – 10 Mission Road, Adum, Kumasi
  3. Suame Branch – S.K. Bonsu Storey Building, Tarkwa Maakro
  4. Takoradi Business Branch – 10 Market Circle, Takoradi
  5. Tamale Business Branch – 8 Daboya Street, Old Market, Tamale
  6. Kejetia Branch – Former S.A.T Building, Kumasi
  7. Bolgatanga Branch – Plot No. 394 Central Residential Area
  8. Wa Branch – Block B Dobile Residential Area

See also

References
  1. "Key People At BOA-Ghana". Archived from the original on 25 January 2013. Retrieved 24 May 2012.
  2. AmalBank Acquired By Bank of Africa Group Archived 5 April 2012 at the Wayback Machine
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