Gnpc merger with ghana gas almost complete business. The bank of ghana may disapprove a proposed transfer of shares in the interest of sound and prudent management of a regulated financial institution and the functioning and stability of the overall financial system by preventing d the acquisition of shares by a person who, in the opinion of the bank of ghana, would. From a poverty reduction strategy to a moneyspinning business bright baffour antwi thesis submitted in partial fulfillment of the requirements for the degree of master of philosophy in culture, environment and sustainability centre for development and the environment university of oslo blindern, norway. Specifically, the study sought to investigate how the human resource issues were being dealt with in the merging of irs, ceps and vat into gra.
Merger and acquisition in ghana revenue authority, human. There are very few cases of mergers and acquisitions of nigerian companies. Section 5prohibition of partnerships exceeding 20 members no company, association or partnership consisting of more than twenty persons shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the company, association or partnership, or by the individual. Articles on mergers and acquisitions displaying 1 20 of 49 articles the lawsuit filed by new york attorney general letitia james and. A small merger is one in which the combined assets or turnover of the merging companies is less than n1,000,000,000. Mergers and acquisitions companies in ghana including kumasi, accra, and more. Using a merger and acquisition strategy can help your business extend its reach and gain market share within these lucrative markets. The study assessed mergers and acquisitions as an appropriate strategy for growth and consolidation within the south african construction industry and found a particular target company to have the potential to meet all the merger and acquisition requirements pertaining to emb. Following the annual general meeting held on 6th september, 2006, the shareholders of mobil oil ghana limited and total ghana limited approved a name change to total petroleum ghana limited tpgl. Mergers and acquisition is a contemporary issue culminating the effect of recapitalisation of banks in nigerian financial system, sequel to the increase of the capital base of banks from n2billion to n25billion through consolidation mainly by.
In ghana, the recent ones between ecobank ghana and the trust bank. A banking consultant, nana otuo acheampong, said bank consolidation would be timely and an icing on the current growth aspirations of the country. An overview of mergers and acquisitions under nigerian law omotayo akinrinwa abstract this essay seeks to explore the legal framework governing the operation or activities of mergers and acquisitions in nigeria. Mergers and acquisitions in ghana 20927 words bartleby. The vertical is a combination of two or more firms involved in different stages of production or services. Background of the study this section broadly discussed the concept of mergers and acquisitions highlighting how it has been done over the years by various sectors of the economy. This has necessitated several structural changes in the operations of the companies involved. He noted that the move will ensure the needed impact to boost business growth.
Mergers and acquisitions, africa research bulletin. Merger control laws and regulations covers common issues in merger control laws and regulations including relevant authorities and legislation, notification and its impact on the transaction timetable, remedies, appeals and enforcement and substantive assessment in 55 jurisdictions. Total petroleum ghana limited is the result of the merger between mobil oil ghana limited and total ghana limited. The effect of mergers and acquisitions on financial performance of banks a survey of commercial banks in kenya 1. The effect of mergers and acquisitions on financial. Our team has an excellent track record in marketing and negotiating the sale of companies and in identifying acquisition opportunities. Wherever you are in the world, we are able to deploy local teams at short notice teams that combine our deep industry expertise with local knowledge to focus on your deal. A merger may be accomplished by one firm purchasing the other firms assets with cash or its securities or by purchasing the other shares or stock by issuing its stock to the other firms shareholders in exchange for the shares of the acquired firm. An overview of mergers and acquisitions under nigerian. According to online reports, mr samuel datebah, retired justice of the ghanaian supreme court and council chairman of the university of ghana, made some strong public comments on the economic necessity of creating a new westafrican antitrust regime at a conference on december 5. The pre and post merger performance of firms in ghana.
There are various laws aimed at curbing corruption in ghana. The curse of ghanaian businesses now are mergers and. Merger, acquisition in nigeria, other african nations to. Financial risk management 1 and financial risk management 2. This study seeks to evaluate the impact of mergers and acquisition as strategic growth options in the west african banking sector. The impact of mergers and acquisition on the financial. Bank performance, mergers and acquisitions in ghana.
Geographic market extension mergers relate to two companies whose operating activities are concentrated in unrelated geographic locations. Ghanas economy has experienced a windfall of merger and acquisition activity recently. To illustrate, a firm situated in the northern region of ghana with no branches beyond the northern region may decide to merge with a company located in the central region of ghana with no branches beyond the central. One of the processes is to make sure that the ceo of gnpc is a board member of ghana gas.
Merger control 2020 laws and regulations ghana iclg. Mergers and acquisitions can be categorised into three types. Struggling banks in merger talks cdh sure of a deal in. Both the companies involved in the merger cease to exist resulting into a combined new company. Harvey university of ghana business school this study analyzes the impact of mergers and acquisition on performance of the acquiring firm using a t. This text attempts to consider the whole process, from strategic rationale to implementation. There have been several mergers and acquisitions which have taken place in the ghanaian financial sector during the last ten years. If you wish to enquire as to whether this country chapter is available in a previous edition of energy in print or pdf format, contact us here. Explore prescreened businesses for sale in ghana with verified contact details, valuation details and business photographs. Mergers and acquisitions in ghana essay 20936 words. In researching the motivation behind the above mentioned mergers and acquisitions an article published in 2003, why do firms carry out mergers and acquisitions, and how can the difficulties involved be overcome. Mergers and acquisitions in ghana foreign investor.
List of mergers and acquisition companies and services in ghana. Ghana businesses for sale in ghana buy a business in. The curse of ghanaian businesses now are mergers and acquisition headaches. Access bank plc nigeria and sg ssb ghana, that were involved in mergers respectively in 2003 and 2005. In relation to intermediate and large mergers, a premerger notification must be filed at the sec. Petroleum minister, emmanuel armahkofi buah has said that the process leading to a takeover of ghana gas by the ghana national petroleum corporation gnpc is almost complete. James asareadjei, president of the association of ghana industries agi, has urged local industries to partner both foreign and local to enhance their technical capacity.
The study explored the human resource issues in merger and acquisition using the case of ghana revenue authority gra. Banks which could not meet this minimum capital requirement were compelled to merge or get acquired by other banks. Like many laws in nigeria, the law on company mergers and acquisition has been largely unaffected by the judiciary. The global transaction report obtained by sweetcrude indicated. The constitution of ghana as well as several other legislations such as the criminal offences act 1960 act 29, whistleblower act 2006 act 720 and the antimoney laundering act 2008 act 749 have provisions governing anticorruption in ghana. Economic, financial and technical series on deepdyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips. The study limited its scope to two main banks which have been involved in mergers and acquisitions in ghana. In relation to intermediate and large mergers, a premerger notification is required to be filed at the sec. Fatai is the ceo of deloitte nigeria and the regional leader. It is a unique field in the nigeria legal system, and this is connected to the limited expertise in this area. Former ghanaian supreme court justice calls for competition law.
The law on company mergers and acquisition is stipulated in the nigeria companies and allied matters act cama of 1990. Experience has shown that in many instances, counterparties to business combinations sometimes fail to evaluate the tax implications of the proposed business combination pre andpost the transaction. One of the acquisitions that occurred in ghana was between guinness ghana limited ggl and ghana breweries limited gbl in 2004. On the other hand acquisition is a corporate action where one company. Pdf merger and acquisition in ghana revenue authority. Ghana industries urged to consider mergers africaontherise. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. Mergers and acquisitions edinburgh business school. Juneja 20 on the other length opines, a firm that is facing slower growth in its current market s may be able to. Find mergers and acquisitions law offices and lawyers in ghana for your city. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. The role of mergers and acquisitions in firm performance.
Using the pre and postacquisition performance of the. As tigo and airtel ghana await the finalisation of the deal between the two telecommunication firms, what impact will mergers like this have on ghanas. Most textbooks on mergers and ac quisitions concentrate on one aspect of the process, such as the financial aspect. The bank of ghana cited the protection of depositors funds as one of the reasons for carrying out this exercise. Merger is the corporate action where two companies decide to combine their operations.