Moody's Investors Service has today changed to negative from stable the outlook on Ghana Commercial Bank Ltd's B1 local-currency long-term deposit ratings and B2 foreign-currency deposit ratings.

Fortiz Private Equity Fund Ltd, a wholly owned Ghanaian equity fund has reached agreement with the Social Security and National Insurance Trust (SSNIT) and SIC Life to take over the majority stake in Merchant Bank Ghana Ltd.

UT Bank Ltd and Amethis Finance, a Paris based Private Equity Firm, on Thursday announced a USD 10m subordinated loan agreement, subject to approval from the Bank of Ghana.

Danone and The Abraaj Group (“Abraaj”), a leading investor operating in growth markets, today announced a partnership agreement whereby Danone will join Abraaj in the acquisition of Fan Milk International.