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Zenith Bank (Ghana) Limited
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 25071
Company nameZenith Bank (Ghana) Ltd
Country
Ghana
Sector1Commercial Banking - General
Environmental categoryFI
Department
StatusHold
Date SPI disclosedNovember 10, 2006
Projected board dateDecember 15, 2006
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The proposed project consists of an equity investment of up to $1.8 million to purchase 15% of the issued share capital of Zenith (Ghana) Bank Limited (Zenith Ghana or the Bank). IFC’s participation will facilitate Zenith Ghana’s expansion in the Ghanaian banking sector and support the introduction of best international practice. Zenith Ghana is a wholly owned subsidiary of Zenith Bank PLC (Zenith PLC), the largest and strongest banking group in Nigeria with over $4.8 billion in total assets. Zenith Ghana was incorporated in April 2005 and commenced operations in September 2005 with a capital of GHC108 billion ($12 million equivalent).

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