Republic Bank Ghana Limited (IFC-42193)

Countries
  • Ghana
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 16, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
REPUBLIC BANK (GHANA) LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 16, 2019

Disclosed by Bank Apr 4, 2019


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Project Description

The project consists of a senior loan of up to US$40 million for 5 years to Republic Bank (Ghana) Limited (“RBGH” or the “Bank”) to support the growth of its Small and Medium Enterprises (“SME”) portfolio. The proposed senior loan will support the Bank in expanding its reach and services to SMEs that are severely underserved and in need of access to finance to grow their businesses (the “Project”). The Bank has expressed interest in carving out 25% of the proposed senior loan to grow its climate finance business.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

 The Bank’s main shareholders are Republic Financial Holdings Ltd (“RFHL”) (66.50%), Social Security and National Insurance Trust (“SSNIT”) (25.87%), Ghana Union Assurance Company (4.97%) and Ghana International Bank (1.08%).

Contact Information

Republic Bank Ghana Limited 
Anthony Jordan 
Managing Director 
+233 30 2 2420904 
email@republicghana.com 
No. 35, Sixth Avenue North Ridge P. O. Box CT 4603, Cantonnements, Accra 
https://www.republicghana.com/ 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/