{"id":107769,"date":"2025-12-20T17:47:33","date_gmt":"2025-12-20T17:47:33","guid":{"rendered":"https:\/\/sotnews.agency\/?p=107769"},"modified":"2025-12-20T17:47:33","modified_gmt":"2025-12-20T17:47:33","slug":"first-atlantic-bank-targets-african-expansion-as-ipo-strengthens-capital-governance","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=107769","title":{"rendered":"First Atlantic Bank targets African expansion as IPO strengthens capital, governance"},"content":{"rendered":"
\n
\n \t<\/i> Read Time:<\/span>3 Minute, 38 Second <\/div>\n\n <\/div>
\n

Managing Director and Chief Executive Officer of First Atlantic Bank, Odun Odunfa, says the bank\u2019s decision to go public is closely tied to its ambition to expand operations beyond Ghana into other African markets, leveraging new capital, stronger governance and increased brand visibility.<\/p>\n

Speaking in an interview with Joy News at a celebratory lunch event held at the Labadi Beach Hotel on Friday, December 20, Mr Odunfa said the bank is positioning itself for long-term regional growth, with the Initial Public Offering (IPO) and listing on the Ghana Stock Exchange (GSE) serving as a key platform for that expansion.<\/p>\n

\u201cIn addition to capital, and using that as a platform for our expansion plans, we\u2019re ambitious,\u201d he said.<\/p>\n

According to him, First Atlantic Bank is already investing heavily in digitisation, regional market readiness and human capital as part of its broader African growth strategy.<\/p>\n

\u201cWe are investing heavily in digitization. We\u2019re investing in our original expansion plans across Africa, West Africa, and Africa. We\u2019re also investing a lot in the human capital, fellow Ghanaians, developing capacity, skills, and so on of our people,\u201d Mr. Odunfa stated.<\/p>\n

He explained that beyond raising funds, the IPO was designed to broaden the bank\u2019s investor base and deepen governance\u2014key requirements for operating competitively across multiple jurisdictions.<\/p>\n

\u201cFirst of all, we have to broaden the investor base, and we have to deepen governance,\u201d he said.<\/p>\n

Mr. Odunfa noted that the public listing also enhances the bank\u2019s visibility and credibility, factors he described as critical to winning trust in new markets.<\/p>\n

\u201cThe brand gets more visibility. The brand gets more exposure. Hopefully that exposure and that visibility will help us to do more,\u201d he said.<\/p>\n

He added that increased Ghanaian ownership would further strengthen the bank\u2019s foundation as it looks outward.<\/p>\n

\u201cWith coming on board of Ghanaian investors, both institutional and individual, we\u2019ll have more belief. We\u2019ll have more support. We\u2019ll have more business. So on many levels, this is a Ghanaian institution, and we want to be clear that that is what it is,\u201d he said.<\/p>\n

The CEO said the strong investor response to the IPO reflects confidence not only in First Atlantic Bank\u2019s business model but also in Ghana\u2019s improving economic conditions, which he described as favourable for expansion planning.<\/p>\n

\u201cIt says a lot about the confidence in the system right now, in our business,\u201d he said.<\/p>\n

He pointed to trends in the performance of the cedi, declining inflation and regulatory initiatives by the Bank of Ghana as signals of macroeconomic stability.<\/p>\n

\u201cYou\u2019ve seen how the cedi has trended. You\u2019ve seen how inflation has trended. You\u2019ve heard how our regulator has positioned itself\u2026 I think it\u2019s a good time for Ghana,\u201d Mr. Odunfa noted.<\/p>\n

He stressed that while shareholders would expect returns, the bank would not compromise sound risk management or governance in pursuit of growth.<\/p>\n

\u201cThe only thing we can promise investors is that we\u2019re going to run a decent business, a proper business\u2026 We will aspire to meet market expectations, but we will not cut corners to do so. We\u2019re going to build to last,\u201d he said.<\/p>\n

Reflecting on the bank\u2019s earlier restructuring, including its merger with Energy Bank to meet the Bank of Ghana\u2019s minimum capital requirement, Mr. Odunfa said the experience reinforced the importance of discipline in growth.<\/p>\n

\u201cGrowth does not come easy. If you\u2019re going to do a good thing, you have to go through a process\u2026 If you do things properly, you will do well, and people would recognize it in the long run,\u201d he said.<\/p>\n

Founded in 1994 and licensed as a universal bank in 2011, First Atlantic Bank has grown steadily through organic expansion and consolidation. Its IPO and subsequent listing on the Ghana Stock Exchange on Friday, December 19, marked a new phase in its evolution, positioning the bank to pursue regional opportunities.<\/p>\n

Mr. Odunfa said listing locally was both strategic and symbolic.<\/p>\n

\u201cWe\u2019re Ghanaians, we\u2019re in Ghana. Where else would we list?\u2026 If Ghanaians don\u2019t believe in the Ghanaian Stock Exchange, nobody else will,\u201d he said.<\/p>\n

As the bank charts its next phase, Mr. Odunfa said the focus remains on building a resilient institution capable of competing across African markets while maintaining strong Ghanaian roots.<\/p>\n<\/div>\n

\n
\n \n
\n \n \"Happy\"\n <\/a>\n
\n Happy <\/div>\n
\n 0<\/span>\n \n 0<\/span> %<\/span>\n <\/div>\n <\/div>\n\n
\n \n \"Sad\"\n <\/a>\n
\n Sad <\/div>\n
\n 0<\/span>\n 0<\/span> %<\/span>\n <\/div>\n <\/div>\n\n
\n \n \"Excited\"\n <\/a>\n
\n Excited <\/div>\n
\n 0<\/span>\n 0<\/span> %<\/span>\n <\/div>\n <\/div>\n\n
\n \n \"Sleepy\"\n <\/a>\n
\n Sleepy <\/div>\n
\n 0<\/span>\n \n 0<\/span> %<\/span>\n <\/div>\n <\/div>\n\n
\n \n \"Angry\"\n <\/a>\n
Angry<\/div>\n
\n 0<\/span>\n 0<\/span> %<\/span>\n \n <\/div>\n <\/div>\n\n
\n \n \"Surprise\"\n <\/a>\n
Surprise<\/div>\n
\n 0<\/span>\n 0<\/span> %<\/span>\n <\/div>\n <\/div>\n\n <\/div>\n <\/div>\n\n ","protected":false},"excerpt":{"rendered":"
\"FirstManaging Director and Chief Executive Officer of First Atlantic Bank, Odun Odunfa, says the bank\u2019s decision to go public is closely tied to its ambition to expand operations beyond Ghana into other African markets, leveraging new capital, stronger governance and increased brand visibility. Speaking in an interview with Joy News at a celebratory lunch event [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1904,12,8724,14227,2576,14085,1883,14228,10,9],"tags":[],"class_list":["post-107769","post","type-post","status-publish","format-standard","hentry","category-banking-and-finance","category-business","category-first-atlantic-bank","category-gse-listing","category-hp-business-4","category-ipo","category-national","category-odun-odunfa","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/107769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107769"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/107769\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}