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| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1990 |
| Headquarters | , Ghana |
Number of locations | 20 branches |
Key people | Kojo Addae-Mensah Chairperson Frankie Hayford Executive Director |
| Products | Asset management, brokerage, investment banking, mutual funds |
| Total assets |  GH₵9,672+ million (US$634+ million) (2022)[1] |
| Website | homepage |
Databank Group, commonly known as Databank, is a multinational financial services group headquartered in Ghana.[2][3] It is licensed as a pension fund manager by the NPRA.[4]
The group has played a role in the development of Ghana's capital market, being the first bank to establish mutual funds in Ghana.[4]
Overview
editDatabank is a large asset management firm, providing corporate finance advisory, stock brokerage, fund management, private equity and research services throughout the region.[2] It operates 20 branches across the country, along with owning subsidiaries in Liberia, Sierra Leone, and The Gambia.[5] As of 2022, the group owns a total of GH₵9,672 million in assets.[1]
The group operates 5 mutual funds:[2][6]
- Epack Investment Fund (Epack)
- Money Market Fund (MFund)
- Balanced Fund (BFund)
- Ark Fund (ArkFund)
- Educational Investment Fund (EdIFund)
History
editThe group was founded in October 1990.[3] It was one of the first investment banks to emerge in the region. Originally providing financial information to foreign investors, the establishment of Ghana’s stock market changed the focus of the group. This lead to the company designing Ghana's first stock market index.[7]
In 1996, Databank launched the Epack Investment Fund, Ghana's first licensed investment fund.[4]
Leadership
editThis is the list of the current executive board of Databank, as of June 2024:[8]
| Name of executive | Position |
|---|---|
| Kojo Addae-Mensah | Chairperson |
| Frankie Hayford | Executive Director |
| George C. Attopany | Head of Information Technology |
| Gillian Hammah | Head of Marketing |
| Dela Obeng-Sakyi | Head of Legal & Compliance |
| Emmanuel Quarm | Financial Controller |
| Theresa Kwofie | Head of Human Capital & Administration |
| Alex Boahen | Executive Director, Databank Research |
| Armah I.J. Akotey | Executive Director, Databank Brokerage Limited |
| Nii Anyetei Ampa-Sowa | Executive Director, DAMSEL |
Location
edit
The headquarters of Databank and its main branch are located at 61 Barnes Avenue in Adabraka, a town in Accra.[9] The geographical coordinates of the bank's headquarters are: 5°33'32.7"N, 0°12'19.0"W (Latitude: 5.559087858630442; Longitude: -0.20527719664922026).[10]
See Also
edit
References
edit- ^ a b "2022 Annual Report" (PDF). Securities and Exchange Commission, Ghana. Retrieved 30 June 2024.
- ^ a b c "About Databank Group – Databank Financial Services Limited". Databank Group. Retrieved 23 June 2024.
- ^ a b "Ghanaian goes from bean counter to money magician". BBC News. 29 November 2011. Retrieved 23 June 2024.
- ^ a b c Gyamfi, A. G.; Addai, B.; Asamoah, G. K. (2021). "Macroeconomic determinants of mutual funds performance in Ghana". Cogent Economics & Finance. 9 (1) 1913876. doi:10.1080/23322039.2021.1913876. Retrieved 30 June 2024.
- ^ "Databank: The most respected company in Ghana". Modern Ghana. Retrieved 22 June 2024.
- ^ "Ghana: Databank Takes Lead in Mobile Money Service". Businessdayghana. 11 April 2017. Retrieved 25 June 2024.
- ^ "Entrepreneur Pioneers Investment Banking in Ghana". voanews.com. Voice of America. November 2009. Retrieved 22 June 2024.
- ^ "Leadership Team – Databank Financial Services Limited". Databank Financial Services. Retrieved 22 June 2024.
- ^ "Contact Us – Databank Financial Services Limited". Databank Group. Retrieved 30 June 2024.
- ^ Google (22 June 2024). "Location of Databank Group" (Map). Google Maps. Google. Retrieved 22 June 2024.
External Links
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Category:Companies based in Accra Category:Banks established in 1990 Category:Ghanaian companies established in 1990