Ghana’s NIB Plans to Sell 24% Nestle Ghana Stake, Graphic Says

Ghana’s National Investment Bank Ltd. plans to sell its 24% stake in Nestle Ghana Ltd. to help increase the lender’s capital to meet new minimum requirements, the Daily Graphic reported.

The lender will sell the stake to the government for 400 million cedis ($83 million), the Accra-based newspaper reported, without saying where it got the information. The sale will enable NIB to meet a central bank directive that lenders increase their minimum capital levels to 400 million cedis. Source : Bloomberg