KEN OFORI-ATTA
KEN OFORI-ATTA
$260 Million
CO-FOUNDER, DATABANK
Wealth: SELF MADE, INVESTMENTS
Education: COLUMBIA UNIVERSITY, BACHELOR’S DEGREE, ECONOMICS. YALE
UNIVERSITY, MASTER’S DEGREE, BUSINESS ADMINISTRATION
Known For: DATABANK
OVERVIEW
Ken Ofori-Atta is a co-founder of Databank and serves as its Executive Chairman. Ken worked with Salomon Brothers and Morgan Stanley in New York before moving to Ghana to start Databank with his partner. He currently serves on a number of publicly listed companies in Africa, a few of which includes Chairman of Trust Bank Limited in the Gambia and the Acumen Fund, Africa.
Ken was honoured as a
Donaldson Fellow at Yale University and is the first African-born to receive
the John Jay Award from Columbia University which is presented to alumni of
Columbia College in recognition of his commitment to a new generation of
African leaders. He is Vice Chairman of Women’s World Banking Ltd in Ghana and
Chairman of International Bank of Liberia.
Headquartered in Ghana
and with a presence in Liberia and The Gambia, Databank was one of the first
investment banks to emerge from West Africa, and is now Ghana's leading asset
management firm. He co-founded Databank in 1990 with Keli Gadzekpo which
provides corporate finance advisory, stock brokerage, fund management, private
equity and research services to a global client base. Over the past 25 years,
Databank has been instrumental in the development of the Ghanaian capital
market and has built a strong reputation for its pioneering work, including the
creation of Ghana's first stock market index.
NET
WORTH SUMMARY
Databank Group has over
200, 000 clients and has more than US$200 million under its management with the
equivalent of $232 million in assets.
Databank owns about 39.82% of Enterprise Insurance Group through a company called Ventures and
Acquisitions Ltd. Enterprise Insurance Group as at December 2014 had total assets
of about GHC 486 million and is the largest privately owned Insurance firm in Ghana.
Databank closed a $36
million fund in May 2014 that bought stakes in a poultry producer in Burkina
Faso, a bakery in Nigeria and a juice factory in Zimbabwe and which was
supported by a $6 million technical assistance facility by the European Union.
Databank is expanding its
private equity offering as the company, which also owns a brokerage, corporate
finance unit and a researcher and seeks to boost assets under management more
than threefold to GHC 3 billion by 2020.
Products of the company,
including the Epack, M-Fund, Ark Fund and B-Fund, have been designed to serve
specific interests in the investment spectrum. Over 70 percent of deposits are
from contributions from the informal sector.
Databank's flagship
mutual investment fund, Epack, has recorded a steady growth of 9,000% since
2006, with current net assets of $23 million.
Databank was the first to
introduce foreign investors to the Ghanaian stock market, the first to
successfully arrange a merger on the Ghana Stock Exchange, and it also launched
the first mutual funds in Ghana.
Databank is currently the
market leader in the mutual funds and unit trusts industry, with over 60%
market share.
Databank manages EPACK,
the most successful pan-African equity mutual fund, which has averaged 41%
annually since 1996 with a cumulative return of more than 18,700 % since
inception.
Databank Group’s
subsidiaries include Databank Brokerage Ltd,
Databank Asset Management Services Ltd.
Databank
Private Equity Ltd (DAPEL), Databank Financial Services Ltd (DFS), Databank
Securities Ltd in The Gambia, Databank Securities Ltd in Liberia make up the Group's subsidiaries
Visibility Ratings: A
No comments