Fortiz announces completion of Merchant Bank Ghana acquisition

Fortiz Private Equity has announced today December 4, 2013 it has completed the acquisition of Merchant Bank Ghana.

In a statement, the firm said it “has met the requisite and immediate conditions set by the Bank of Ghana”.

It thanked management and staff of Merchant Bank for their support through this process.

Fortiz indicated that it is currently in the process of forming a strong executive team to execute the vision of the shareholders.

It promised to “aggressively pursue all defaulters” and reinvest recovered bad loans into the bank to ensure a sizeable balance sheet to support the growth of the bank’s business.

By Ekow Quandzie