Business News of Tuesday, 23 June 2015
afb (Ghana) plc, one of the leading financial services companies in Ghana has announced its intention to list corporate bonds on the Ghana stock Exchange.
This follows the approval by the Securities and Exchange Commission given to the company last week.
afb is currently present in over 23 locations in all ten regions across the country and is one of the largest payroll lenders in Ghana with over 80,000 customers.
The Managing Director of afb Ghana, Mr. Arnold Parker, has said this is a significant milestone in the history of the company as it seeks to continue exploring the frontiers of financial inclusion through the use of technology.
Mr. Parker continued, “I am extremely delighted that afb has finally gotten the nod of the Bank of Ghana and Securities and Exchange Commission’s (SEC) to go ahead and offer bonds to the investing public”.
The company intends to use the proceeds of the bond issuance to restructure its balance sheet and expand its operations.
afb (Ghana) plc is part of the afb Group, the financial services giant that also operates in Kenya, South Africa and Tanzania with plans underway to expand to Zambia, Uganda and Rwanda in the very near future.