Two major local and foreign investors are ready to inject capital into OmniBank for the bank to meet the 400 million Ghana cedis minimum capital requirement by next year.
The bank will soon engage a transaction advisor to manage the process going forward.
The move is to assure customers and staff of the bank that frantic efforts are being made to ensure that the SME focused bank is ready to meet the regulatory requirement.
It will by the close of next week provide its recapitalization plan to the Central Bank for approval.
Speaking to Starr Business the MD of the Bank Philip Oti Memsah said: “As we speak now we are not talking about any merger, we are looking at new investors bringing in capital”.
He added that; “The board met, and we took major decisions; one of them was to appoint a transaction advisor, another one was to ensure that the current shareholders maintain ownership or control so that our philosophy of everything I have said about developing SMEs, giving young people in Ghana the opportunity to work in a bank; all these philosophies can stay.Therefore the current shareholders want to maintain their control and bring in other shareholders; and that is exactly the reason why we are not considering only one shareholder but about 4 or 5”.
Meanwhile the bank has expanded its corporate social responsibility to the education arena as it offered its first scholarship today.
Samuel Dorkenoo, a KNUST student dropped after financial challenges. His plight was brought to the attention of managers of the bank when they visited the Graphic Communication Group.
The company, therefore, assisted him in reapplying for admission to KNUST where he will be studying Biological Science.
The sponsorship package granted for the entire duration of his educational programme includes full tuition, accommodation, book allowance and monthly stipend to be paid at the beginning of each academic year.