LEASAFRIC GHANA LIMITED is a non-bank financial institution duly licensed and regulated by the Bank of Ghana, issued with license number FNB 0014. The Company was registered in March 1992 and started operations in July 1994; its core business is financing equipment and vehicles to corporate organisations and individuals.
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 Ltd, 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%. In April 2012, C & I Leasing Plc increased its majority position as Aureos West Africa sold all its shares.
The founder of Leasafric, Mr. Seth Kwasi Dei initially held 15% of the shares and was for eleven years the Chief Executive of the company before retiring from the company in March 2005.
The current ownership structure is as follows:-
|C & I Leasing Plc, Nigeria||70.89%|
|West Africa Emerging Markets Growth Fund||16.0%|
|Mr. Theodore Ebow Essandoh||8.45%|
|Mr. Jude Kofi Bucknor||4.40%|
|Employees Provident Fund||0.26%|
Leasafric is a registered member of Ghana Investment Promotion Centre. It has also been registered as a service company and issued with GNPC Permit to provide services to the upstream petroleum industry in Ghana.