Bank of Africa Ghana, also known as BOA Ghana Limited is a commercial bank located in Ghana. The bank is licensed by Bank of Ghana, the central bank of Ghana, and the national banking regulator.
BOA was incorporated in 1982. It’s is also a private financial institution owned by certain individuals and companies.
READ ALSO: List of Commercial Banks in Ghana
History Behind Bank of Africa Ghana
BOA was first known as Amalgamated Bank Limited. Meeky Enterprises From Nigeria had 49% Shares in AmalBank in 2006. At the same period, they also had majority shares in Oceanic Bank (now Ecobank Nigeria) which was situated in Nigeria.
In April, 2011, majority shares (60%) in AmalBank was owned by Bank of Africa Group. This lead to the rebranding of AmalBank to Bank of Africa Ghana.
BOA Ghana Limited started operations in the Ghana after obtaining its Banking License from the Central Bank on 11th November, 2011. The Bank’s focus and commitment to developing deep relationships with customers have driven its growth in recent years.
This bank is not owned by the state or a private individual. Te shares of Bank of Africa Ghana is owned by several companies (corporate business) and individuals.
BOA Group’s majority shareholder, is Bank Maroccaine du Commerce Exterieur (BMCE Bank). BMCE Bank is Africa’s twelfth (12th) largest bank and is actively involved in Capital Market, Asset Management, Stock Brokerage, Consumer Credit, Asset Leasing, Credit Insurance, Custody and Advisory services.
Other ownerships including Meeky Enterprises and certain individuals.
Location and Branches
BOA Ghana currently has 26 networked branches across 6 regions in Ghana. the bank’s expansion strategy is set to bring banking closer to its existing and potential clients.
The bank is subsidiary of the Pan African banking conglomerate BANK OF AFRICA Group which is present in 18 other countries – Benin, Burkina Faso, Ghana, Ivory Coast, Mali, Niger, Togo, Senegal, Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Tanzania, Rwanda, Uganda, Democratic Republic of Congo and France. It began operations in 1982 in Bamako, Mali.
BOA Ghana as at December 2020, had a total asset valuation of the bank was estimated at GHS 2,057 million.
- Personal Banking
- Business Banking
Address: 1st Floor, Block A&B, The Octagon, Independence Avenue
P.O Box C1541, Cantonments, Accra, Ghana