El Maniel to buy 20% stake in Ghana’s Agona Rural Bank

El Maniel International is planning to acquire a 20% stake in the Agona Rural Bank under its Rural Community Bank (RCB) acquisition programme.

According to the company, ongoing discussions with the Agona Rural Bank are at an advanced stage and they are happy with the tremendous synergies and opportunities available to them.

“El Maniel will be acquiring 20% stakes of Agona Rural Bank and we are expecting to enter into a Definitive Agreement with Agona Rural Bank by Mid-February 2011”, Jamie Khoo, CEO of El Maniel International was cited in a press release issued on February, 11, 2011.

According to the release, Khoo said “Agona Rural Bank brings to the affiliation a large array of banking and investment opportunities as well as a stellar record of earnings and dividends growth” adding that the acquisition will gear towards the collective benefits in favor of shareholders, customers, employees and the community served.

On January 18, 2011, ghanabusinessnews.com carried a news item headlined “Ghana rural banks attract investment from El Maniel.” In that story El Maniel’s Board was reported to have unanimously agree to acquire Rural Community Banks in Ghana, especially those operating in mining areas. The decision according to the report is seen as one of the company’s significant business growth and development milestones.

El Maniel says it is a publicly traded ventures and holdings company with a current focus in gold field exploration and mining, oil terminal operations and philatelic investments.

By Ekow Quandzie

  1. John Umbasi says

    Ben Donkor and John Ofori of the Agona Rural bank have no idea what they are about to get into. This company is a stock fraud in America, run by Singapore stock manipulators on the pink sheets OTC. The only money they have is what they dumped in the open market from stock sales.

  2. John Umbasi says

    As I have stated before El maniel has no money to buy 20% of this bank and all the news releases it has done before were purchase agreements to pay millions of dollars that NEVER happened. maybe they have manipulated John ofori to believe that this bank can pay those big outstanding debts. Is this what our initiative to allow forein buyers of our industries are all about/ dealing with pink sheet con men? This is the news today then::::

    El Maniel International Inc Enters into Definitive Agreement With Agona Rural Bank to Acquire of 20% Stakes of the Rural Community Bank in Ghana
    New York – February 28, 2011 –El Maniel International Inc (OTC: EMLL) Chief Executive Officer, Jamie Khoo, has announced today that on 16 February 2011, the company has entered into a Definitive Agreement with Agona Rural Bank who was represented by its Managing Director, Mr John Ofori Jr under its Rural Community Bank Acquisition Program to acquire 20% stakes of the rural community bank. “We are very pleased with this landmark initiative in the African continent and we are very excited about the underlying synergies and opportunities in next phase of our mutual endeavors which presented an outstanding milestone towards the collective benefits in favor of our shareholders, customers, employees and the community served” stated Jamie Khoo who is also the President of El Maniel .

Leave A Reply

Your email address will not be published.