Absa Bank Ghana has supported PETROSOL Platinum Energy PLC’s successful listing of its GH¢200 million Note Programme on the Ghana Fixed Income Market, acting as Joint Lead Manager and Debt Service Account Bank on the transaction.
The initial issuance attracted strong investor interest, recording a 178% subscription. Despite the additional demand, PETROSOL elected to maintain its original GH¢100 million target.
The funds raised will support PETROSOL’s growth strategy, including strengthening working capital to enhance fuel procurement, improving the quality and performance of existing stations and expanding its retail footprint and business-to-business portfolio. Managing Director of Absa Bank Ghana, Edward Nartey Botchway, said the transaction demonstrates the importance of creating diverse funding pathways to support the ambitions of Ghanaian businesses.
“Ghanaian companies do not lack ambition; what is often needed is the long-term capital to back that ambition. PETROSOL Platinum Energy PLC’s Bond Programme listing demonstrates that Ghanaian businesses can access long-term funding through the capital market when they have a strong track record and a compelling growth story. Absa Bank is proud to have played a leading role in helping PETROSOL raise the capital needed to support its next phase of growth,” he said.
The successful issuance highlights how Ghana’s capital market can provide businesses with long-term funding to support growth, expand operations, and create lasting value.
For Absa, the transaction reflects its commitment to supporting businesses through a combination of investment banking expertise, capital markets access and tailored financial solutions that contribute to Ghana’s economic development.