Deputy Minister for Finance, Thomas Nyarko Ampem, has described the expansion of First Atlantic Bank into Liberia as a significant milestone in the international growth of Ghanaian financial institutions and Africa’s broader economic integration.
Representing President John Dramani Mahama at the official opening of First Atlantic Bank Liberia, Mr Ampem said the bank’s entry into the Liberian market demonstrates the growing capacity of Ghanaian businesses to compete beyond the country’s borders and contribute to Africa’s economic transformation.
He said the expansion represented more than the establishment of another bank in a foreign market.
“When a Ghanaian bank establishes itself in Liberia, this is not simply foreign investment. It is African capital investing in Africa. It is also expertise, opportunity and market confidence crossing borders,” he said.Ghanaian Capital Expands Across Africa
According to Mr Ampem, the growing presence of Ghanaian enterprises in international markets demonstrates that African institutions are increasingly becoming exporters of capital and financial services rather than relying solely on foreign investment.
He noted that Liberia’s banking sector already hosts successful African financial institutions from countries including Nigeria, Togo and Cameroon, adding that Ghana was proud to join the growing group through First Atlantic Bank.
Mr Ampem said the expansion was consistent with President Mahama’s commitment to creating an environment where Ghanaian businesses can develop into regional and global champions.
He added that the success of African enterprises demonstrates the continent’s capacity to finance its own development, build stronger institutions and create economic opportunities for its people.
Focus on Economic Impact
Congratulating the Board and Management of First Atlantic Bank, the Deputy Finance Minister said the bank’s success in Liberia should not be measured solely by profits or the value of its assets.
He urged the bank to measure its impact by the businesses it helps grow, the entrepreneurs it finances and the jobs it creates across West Africa.
President Joseph Boakai of Liberia officially inaugurated First Atlantic Bank Liberia at a ceremony attended by senior government officials from Ghana and Liberia, central bank governors, diplomats and business leaders.
The expansion marks another step in the growing integration of financial institutions and capital markets across West Africa.
