Oakwood Africa Investment Limited acquires Global Bank Liberia Limited

Date:

CBL Executive Governor, Mr. Jolue Aloysius Tarlue

On January 11, 2023, the Board of Governors of the Central Bank of Liberia (CBL) approved the divestment of the ownership of Global Bank Liberia Limited (GBLL) from Keystone Bank, Nigeria to Oakwood Africa Investment Limited (OAIL) following a maturity Comprehensive due diligence and evaluation of the company’s application. With this divestment, OAIL has acquired 100 percent of GBLL’s shareholding.

OAIL is a registered and licensed financial services company in Ghana. It owns Bloom Bank Africa The Gambia Limited and holds majority shares in Keystone Bank Sierra Leone (formerly owned by Keystone Bank Nigeria). The company plans to mobilize and infuse new financial resources into GBLL. It also plans to reshape GBLL’s approach with the introduction of innovative digital products and services aimed at promoting financial inclusion, especially for women and the unbanked.

The CBL is confident that the Oakwood acquisition will bring a new dynamism to the banking sector and will respond to the needs and demands of its clients, and will contribute to building a strong, viable and competitive banking sector in Liberia.

The CBL wishes to assure the banking public and people of Liberia of its full commitment to building a credible, strong and inclusive financial system that will positively contribute to the economic growth and development of Liberia. The CBL also urges the public and commercial bank clients to support the work of the Bank and the banking system for the good of Liberia.

A press release signed by the Management of the Central Bank of Liberia (CBL) stated

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