Kleeve & Tove acquires NDK Capital Limited

Eugenia Basheer, MD, NDK Capital

The board and management of NDK Capital, one of the best-known asset and wealth management firms in Ghana has announced a change in the ownership and governance structure of the company.

This follows the acquisition of a 100% stake in NDK Capital by the investment holding and management advisory firm, Kleeve & Tove.

The Executive Chairman of Kleeve & Tove, Mr. Senyo Hosi says his firm is focused on transforming lives by facilitating investment and developing great businesses and brands in Ghana and Africa.

“We are excited by this opportunity to develop a model business in the financial sector,” Mr. Hosi says. “We are guided by prudence, service and excellence in the pursuit of our goal to win with our current and future clients.”

The new owners of the company have reconstituted its board for NDK Capital with Mr. Eric Nana Otoo (an Investment Banking Consultant), as chairman. Members of the board include Mrs. Eugenia Basheer (Managing Director, NDK Capital) and Mr. Mensah Seneadza (Country Manager and West Africa Business Head for Schweppes International). The rest are Mr. Kwabena Boamah (an international business consultant) and Dr. Justice D. Yankson (Medical Doctor and Lawyer).

“Our team, working in line with the new vision of the board, has earnestly begun repositioning the company to serve you, our clients, better, deliver greater value to you and make the company a financial beacon and investment gateway for Africa,” says Eugenia Basheer, Managing Director of NDK Capital, in a message to clients of the company announcing the change in ownership.

“Over the next few months we shall undergo a renaming and a rebranding of the entity and introduce novelty in our services and range of products. These will reflect our new promise and vision, that has you, our client, as our ultimate focus.”

NDK Capital was established in May 2010 and received its license from the Securities and Exchange Commission a month later to operate as a fund manager and investment adviser. In April 2012, it was registered by the National Pensions Regulatory Authority as a pension fund manager and signed its first Pension Fund Management contract with a licensed pension trustee in the same year. The company launched the first ever bond index in Ghana, the NDK Aggregate Bond Index, in 2013.

Board Chairman Eric Nana Otoo says: “We assure clients, employees and all other stakeholders of our restless commitment to govern the company competently, and deliver the best value and experience to all. We aim to bring renewed and exemplary leadership to the industry.”

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