Merger creates one of Ghana’s biggest banks
Genesis was contracted as an external adviser in the merger process between one of the largest local banks in Ghana and an SME finance provider. Genesis was tasked with supporting the integration of two very different companies by helping them to align and optimise their operating model as they began working together.
Genesis provided the firms with an integration framework as well as aided them in defining their thoughts on strategy, given the changing macroeconomic environment in Ghana over 2014.
This intervention involved extensive interviews, executive committee meetings as well as a detailed workshop focusing and defining a path forward. The outcomes of the integration were highlighted to the workshop participants. The participants were asked to think of their work streams in the context of the most important key path-dependent outcomes to which they should align their tasks towards integration.
This was then used as an overarching mechanism to track interrelated work and ensure a full understanding of the goals of the integration process. This streamlining activity helped the two firms understand their new united objective
The integration ensured that the new bank consolidated its position as number six in the market in terms of asset book, but with one of the largest networks (80 branches, 300 agencies and 96 ATMs) and customer base of over 700 000. The integration was also deemed a success as the new bank was able to retain the majority of the staff and functions from both previous organisations.
The benefits of the merger continue to be realised with the bank continuing to scale the rankings. It is no longer labelled as one of the largest local banks in Ghana, but rather one of the largest banks in Ghana.