BoG approves merger of OmniBank with Sahel Sahara Bank
January 4, 2019
The Bank of Ghana (BoG) has given final approval for the merger of an indigenous lender, Omni Bank, with Sahel Sahara Bank into one entity to be known as Omni-BSIC Bank Ghana Limited.
This is after five months of rigorous work between officers of the central bank and those from the two banks.
Graphic Online is reliably informed that the approval was granted this week, paving the way for proper integration of their operations, human resources and interfacing of their banking software to begin.
Graphic Online further understands that the new bank has three shareholders – the BSIC Group (which owns Sahel Sahara Bank), the Jospong Group (owners of Omni Bank) and the Ghana Amalgamated Trust (Limited), the special purpose vehicle that is investing in a solvent and well governed local banks.