Emmanuel Bsc

Leasafric Ghana PLC

LEASAFRIC GHANA PLC was incorporated in March 1992 and commenced business in April 1994. The Bank of Ghana subsequently licensed it in August 1994 as a non-bank financial institution to carry out the business of finance leasing as its principal business. Leasafric has since then been running an Asset Finance business using the technique of finance leasing. The company was founded by a Ghanaian entrepreneur who pulled together a team of investors comprising a venture fund, two local banks, an insurance company and three other individuals to provide the start-up equity. The founder, Mr. Seth K. Dei initially held 15% of the shares and was for eleven years the Chief Executive of the company before retiring in March 2005. The shareholding of the company has evolved over the years. Ghana Venture Capital Fund, which initially held 20% of the shares came to term and sold out in August 2003. In December 2004, another investment fund Aureos West Africa Fund bought into the company to take a 51.28% stake, pushing the founding shareholders into minority position. Some shareholders exercised their share warrants in September, 2006 which brought the Aureos holding to 48.06. In August 2007, Aureos West Africa Fund and Ecobank Ghana Limited, holding between them 59.05% shares, sold their shares to C & I Leasing Plc, Nigeria. Aureos West Africa Fund subsequently bought out other shareholders totalling 17.58%. Aureos West Africa Fund sold their shares of 17.58% to C & I Leasing Plc in March 2012. In June 2014 West Africa Emerging Markets Growth Fund bought shares. OUR VISION " To become through innovation, the leasing and ancillary service company of choice for any discerning lessee in Ghana." OUR MISSION ‘To provide customers with quality and ancillary service solutions to meet their unique needs, supported by appropriate technology, in accordance with world-class systems and procedures.'