Energy Bank
Encyclopedia
Energy Bank Ghana Limited, also referred to as Energy Bank Limited, but commonly known as Energy Bank, is a commercial bank
in Ghana
. It is one of the twenty-seven (27) commercial banks licensed by the Bank of Ghana
, the country's banking regulator.
. The banks total assets are estimated at about US$100 million. The shareholders' equity is estimated at about US$39.8 million (GHS:60 million).
. Energy Bank commenced banking business on 22 February 2011, following the commissioning of its head office, by John Atta Mills, the President of the Republic of Ghana.
, both from Nigeria
and linked to Jimoh Ibrahim
, the Nigerian industrialist and entrepreneur
who serves as the bank's Chairman. The shareholding in the bank's stock is depicted in the table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Energy Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||NICON Group of Nigeria
||
|-
|2||Global Fleet Group
of Nigeria
||
|-
|3||Others ||
|-
| ||Total||100.00
|-
|}
, the capital of Ghana
and the largest city in that country.
, a shareholder in the bank, serves as the Chairman of the 10-member Board of Directors
, of Energy Bank Limited.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. It is one of the twenty-seven (27) commercial banks licensed by the Bank of Ghana
Bank of Ghana
The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:...
, the country's banking regulator.
Overview
, Energy Bank is a small financial services provider in GhanaGhana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. The banks total assets are estimated at about US$100 million. The shareholders' equity is estimated at about US$39.8 million (GHS:60 million).
History
The bank was establisghed in 2009. In September that year, it was registered as a private limited liability company. In February 2011, it was awarded a commercial banking license by the Bank of GhanaBank of Ghana
The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:...
. Energy Bank commenced banking business on 22 February 2011, following the commissioning of its head office, by John Atta Mills, the President of the Republic of Ghana.
Ownership
The shares of stock of Energy Bank is privately owned. The two major shareholders in the bank are (a) the NICON Group and (b) the Global Fleet GroupGlobal Fleet Group
The Global Fleet Group is a large diversified conglomerate in West Africa.-Overview:The Global Fleet Group is a business conglomerate, that is headquartered in Lagos, Nigeria, with interests across a range of sectors in Africa. Current interests include oil and gas, airlines, magazines, insurance,...
, both from Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
and linked to Jimoh Ibrahim
Jimoh Ibrahim
Jimoh Ibrahim is a lawyer, politician, businessman, entrepreneur, industrialist and philanthropist in Nigeria. He is the current Group Chairman and Group Chief Executive Officer of Global Fleet Group, a diversified conglomerate, based in Nigeria, with business interests and subsidiary in...
, the Nigerian industrialist and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
who serves as the bank's Chairman. The shareholding in the bank's stock is depicted in the table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Energy Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||NICON Group of Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
||
|-
|2||Global Fleet Group
Global Fleet Group
The Global Fleet Group is a large diversified conglomerate in West Africa.-Overview:The Global Fleet Group is a business conglomerate, that is headquartered in Lagos, Nigeria, with interests across a range of sectors in Africa. Current interests include oil and gas, airlines, magazines, insurance,...
of Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
||
|-
|3||Others ||
|-
| ||Total||100.00
|-
|}
Branch Network
, Energy Bank maintains one office in AccraAccra
Accra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
, the capital of Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
and the largest city in that country.
Governance
Jimoh IbrahimJimoh Ibrahim
Jimoh Ibrahim is a lawyer, politician, businessman, entrepreneur, industrialist and philanthropist in Nigeria. He is the current Group Chairman and Group Chief Executive Officer of Global Fleet Group, a diversified conglomerate, based in Nigeria, with business interests and subsidiary in...
, a shareholder in the bank, serves as the Chairman of the 10-member Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, of Energy Bank Limited.