SSNIT offloads shares in Merchant Bank

The Social Security and National Insurance Trust (SSNIT) has off loaded majority of its shares in Merchant Bank Ghana Limited to Fortiz Private Equity Fund Ltd, a wholly owned Ghanaian equity fund.

A statement signed by Evangeline Amegashie, Corporate Affairs Manager of SSNIT, noted that, under the transaction, “Fortiz now becomes the majority shareholder in Merchant Bank Ghana Ltd, which includes the non-performing loans in Merchant Assets Recovery Trust”.

“This to confirm that that the Bank of Ghana has received the agreement between the parties and given its approval, the statement said.

Source: GNA