Bank of Ghana annuls acquisition of ADB shares

The Bank of Ghana has annulled the acquisition of shares of the Agricultural Development Bank held by Belstar Capital, Starmount Development company, SIC Financial Services, and EDC Investments. The bank ruled that Belstar and Starmount "are not fit and proper person and cannot permit them to continue to hold shares acquired directly or indirectly in ADB". The annulment takes effect immediately.