Bank of Africa – Ghana is a subsidiary of the Bank of Africa BMCE Group a pan-African banking conglomerate, headquartered in Morocco. The Bank of Africa Group has presence in 33 countries across Africa, Europe, North America, and Asia, and is a trustworthy partner for all its customers in both local and International Trade.
Leveraging on our global network and robust infrastructure, the Bank has developed and executed a strategic plan with a vision to be known as The Trade Bank in Ghana. The Bank has worked at providing financing as well as advisory services to businesses to assist them transact with their business partners across the world. With a committed team and customer-oriented products, Bank of Africa – Ghana was adjudged the Trade Finance Bank of the Year for two (2) consecutive years (2021 & 2022).
Resilience of Bank of Africa
Bank of Africa Ghana remained resilient despite the adverse effects of the first and second rounds of the Domestic Debt Exchange Programme of the Government and the overall difficult operating environment that impacted the financial sector. The Domestic Debt Exchange programme lengthened the duration of the bond portfolios of banks, Bank of Africa Ghana has taken steps to build a portfolio of highly liquid assets as a buffer to withstand any further shocks in the industry
Just like most other banks, the Bank took an impairment hit after the first round of the Domestic Debt Exchange Programme. However, the Bank reported a very healthy capital adequacy ratio of 31.62percent, well above the minimum of 10percent, showing its resilience in terms of its capital coverage compared to its risk-weighted assets.
This good capital adequacy ratio allows the Bank to continue to grow its credit portfolio in line with its internal risk management procedures and maximizing shareholders’ funds. It also allows the Bank to support the economy as the Government works with the International Monetary Fund to get the country out of the current economic crisis.
As part of Bank of Africa’s continuous commitment to the development of the country, it continues to support key and critical sectors of the economy linked to the development of the whole country.
On the Corporate front, Bank of Africa is focused on the agriculture value chain, Energy, Manufacturing, Commerce with an emphasis on exports. With the footprints of Bank of Africa Group across the globe, the Bank is poised to facilitate export trade by supporting export clients with working capital facilities. It specializes in products that smoothen out bottlenecks in trade within the West African sub-region to ensure that customers take advantage of the African Continental Free Trade Area (AfCFTA).
In the SME space, BOA Ghana has taken a bold step in supporting this segment through its diverse products ranging from the collateral-free SME Support Package, Invoice Discounting, LPO Financing, Revolving Credit lines and trade facilitation through robust systems and timely transfers to suppliers. Dedicated SME Business Spaces are being created in our branches to offer more focus and support to our SME customers.
The Bank is also vibrant in Retail Banking and offers very personalized services that promote convenience in handling transactions and support them with its well patronized Employee Personal Loan product. The Bank has brought financial relief to its numerous clients under this product.
Bank of Africa Ghana is actively partaking in the digital evolution happening within the banking industry and is well positioned to ensure that our customers seamlessly go through this transition with the overall objective of providing convenience and business efficiency. As part of its vision to promote digital financial inclusion, the Bank has invested in a robust internet banking platform that aims to meet the all the financial needs of our corporate and SME customers, while providing a bank branch in the palm of our retail and individual customers through our top-notch mobile banking application.
Funds transfers, investments, account statement, account opening, mobile money services and host of other financial services are all available on our digital platforms, bringing convenient banking to the comfort zone of our customers.
Bank of Africa also has its activities aligned with the Sustainable Development Goals (SDG’S) with emphasis on women, children, health, education, and sport. Over the years, we have partnered with key institutions to render support to young female entrepreneurs and women in business. We have also engaged in Green Ghana activities such as tree planting exercise at the Shai Hills.
Furthermore, knowing the importance of mental health to our community, Our Bank has sponsored numerous activities to help improve lives of staff as well as the general public such as partnering with the Greater Accra Regional Hospital to help promote better relationships and improve productivity for the general good of our economy.
In line with Education, our Bank has on several occasions engaged in activities geared at enhancing and improving education. A case in point is the recent sponsored refurbishment of the ICT Laboratory and Library at the Nii Kojo Ababio Basic School at Korle-Bu in Accra.
Bank of Africa Ghana is poised to do more and can be counted on to lend a hand, when need be, to ensure we contribute our quota to the sustainability of humankind.
Looking ahead, Bank of Africa Ghana is positioned to come out stronger from the impact of the Domestic Debt Exchange Programme and the overall difficult operating environment with its multifaceted impact on the economy. The Bank continues to show support to the country at the back of its strong capital and liquidity buffers.
