The Auditor Generals Report is Really generating lots of Intriguing stories and facts are being realised within a limited period.
The Ghana Commercial Bank Now GCB Bank is partly owned by Government of Ghana, the fact of the matter is that government doesn’t even have up to 50% control of the State bank as it was previously assumed.
GCB Bank Ltd. started in 1953 as the Bank of the Gold Coast to provide banking services to the emerging nation for socio-economic development.
Back then, the Bank was fully owned by the Government of Ghana. Later, in 1996, the ownership in the Bank was restructured to reflect private sector participation. In 2015, government shareholding stood at 51.17% with the Bank listed on the Ghana Stock Exchange.
GCB Bank Limited is a tier 1 bank with an asset size of GHS4.87 billion (June 2015).
It is backed constitutionally by Banking Act 2004 (Act 673) to perform banking businesses.
The Percentage of Shares Government owns currently at GCB based on the Audit Report proves Government’s Shares is 21.36%, a drop of in shares of 29.81 per cent based on subtracted shares from 51.17% in 2015.
Declining based on previous figure of 51.17%.
GCB Bank has has several branches all over the country. Check GCB’s Shares at number 43. Meanwhile, Government still has 97.21% shares at National Investment, Ghana Oil Company 34%, Intercity STC Coaches 20%, Ghana Rubber Estates Limited 25%, PBC Company 36.69%, Ghana Bauxite Company 20%, Ghana Women’s Fund Company Limited 67.51%, SIC Life Company 80%, Kumasi Abattoir Company Limited 41%, SIC Financial Service Limited 30%, Ghana Libya Arab Holding Company 40%, Boansi Oil Palm Plantation 0.43%, AirtelTigo Ghana Limited 100%, Accra Digital Center 100%, Bulk Oil Storage and Transportation 100%, Electricity Company of Ghana 100%, Ghana Airport Company Limited 100%, Ghana Post Company 100%, Ghana Supply Company Limited 100%, Ghana Water Company Limited 100% etc
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