These financial institutions included: Belstar Capital, a turnkey project finance implementation institution, Starmount Development Company Limited, EDC Investments Limited, and SIC-Financial Services. This move received a swift response from the Bank of Ghana (BoG), denouncing as null and void, the purported takeover of ADB. The BoG further explained that the takeover was null and void since it was not sanctioned by the central bank. Thirteen days after the purported acquisition of ADB by UniBank failed, the BoG in a press release announced the takeover of UniBank and immediately appointed KPMG as the official administrator of the Bank. A special report carried out by the AfricaWatch Magazine states that UniBank was brought down because the owner, Dr. Kwabena Duffour, is a member of the opposition NDC party.

Source: GhanaWeb June 15, 2020 09:03 UTC