Home / BUSINESS NEWS / Databank To Reopen Offices On January 10

Databank To Reopen Offices On January 10

Spread the love

Fund management company Databank will reopen its independent branches on 10 January, the first time since 22 December following a shutdown resulting from physical and verbal attacks on its staff by some of its clients.


The staff of the fund management company have been working remotely and engaging clients on digital platforms since the closure but the company in an e-mail and text message to its clients on Saturday 7 January 2023, said it “will apply a phased approach to re-opening” its physical locations.


The re-opening will commence on 10 January with business resuming at its independent branches located in Accra, Cape Coast, Ho, Koforidua, Kumasi, Sunyani, Takoradi, Tamale and Tema.

This will be followed by the re-opening of Databank co-locations within GTBank and UBA branches located in Accra, Ashaiman, Kasoa, Tarkwa, Wa and KNUST.

See also  May Day Celebration: I Commend And Salute The Gallant Workers Of Ghana – Akufo-Addo



Liquidity challenges


The company in an email to its clients last December said it had been affected by the liquidity challenges that have rocked the fund management industry owing to the “macro-economic crisis” facing the country.

It said the crisis had resulted in the company’s inability to pay withdrawal requests and impacted its original two-week estimate for withdrawals.

In an interaction with clients of the firm on Zoom on 28 December, 2022, the Chief Executive Officer of the Databank Group, Kojo Addae-Mensah said the firm’s fixed income investments were in government of Ghana bonds which had been affected by the Ghana Domestic Debt Exchange (GDX) programme which was announced on December 5.

See also  Akufo-Addo Is Not Against Mining – Jinapor

He said the announcement of the GDX resulted in the shutdown of the secondary market which denied the firm the ability to sell the bonds to meet client redemption requests.

He added that the secondary market was still closed, so his outfit was engaging the government to in the interim provide liquidity to meet client redemption requests.

Addae-Mensah disclosed that his outfit had engaged security personnel to provide security for its staff and clients at its branches but this was twisted by some media houses who reported it as intimidation of clients.





Thanks for reading from MyGhanaMedia.com as a news publishing website from Ghana.

See also  Edmund Kyei Feed Aged widows In Asokwa Constituency


Source:  Asaase Radio


Disclaimer: MyGhanaMedia.com is not responsible for this report and its content.
There are four types of content published on   MyGhanaMedia.com daily: curated content; syndicated content; user-generated content; and original content.





Are You Suffering From Weak Erection, Low Libido, Premature Ejaculation Or Infections? – Get M-Plus No



  Maccun Plus (MPlus) is for men and women as a natural aphrodisiac with no side effects

Just contact the number below for M PLUS HONEY.

024-377-7896 / 0561193978








Send your news stories to my[email protected] and Chat with us via WhatsApp on +233 200818719





About Adwenpa-Hene

I'm Adwenpa-Hene |Blogger & Broadcaster Journalist. I am the CEO and manager of this noble website. I publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: [email protected] Contact Us: 0200818719

Check Also

Osofo Kyiri Abosom Dumps His Wife On Live TV Show

Spread the love Founder and Leader of the Life Assembly Worship Centre, Rev. Christian Kwabena …

Leave a Reply

Your email address will not be published. Required fields are marked *