Transaction

AFIG Funds Partially Exits First Atlantic Bank PLC

Announced

19 December 2025

Target

First Atlantic Bank PLC

Value

Undisclosed

Asset class

Private Equity

Type

Exit

Instrument

Equity

Sector

Financial services / Consumer Lending, Agency Banking, MSME Lending, Digital Banking, Corporate Banking Services, Savings and Other Banking S

Markets

Ghana

About the target

First Atlantic Bank PLC is a Ghanaian full-service commercial bank founded in 1995 and headquartered in Accra, Ghana. The bank provides a comprehensive range of financial services to corporate, institutional, and retail clients across the country. Core offerings include corporate banking, trade finance, treasury services, private banking, and digital retail solutions through its "Atlantic Mobile" platform. Following its merger with Energy Commercial Bank in December 2018, First Atlantic Bank significantly expanded its balance sheet and branch network to meet the Bank of Ghana's minimum capital requirements. The bank operates approximately 37 branches and holds a Universal Banking Licence from the central bank. The company completed a successful initial public offering in December 2025, raising GHS 742 million through the sale of 101.7 million shares on the Ghana Stock Exchange, and has received regulatory approval to expand operations into Liberia as part of its West African growth strategy.