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Abraaj Group sells stake in Ghana's HFC Bank
 
Posted on: 01-Aug-2013        
 
 
 
Dubai private equity firm Abraaj Group sold its stake in Ghana's HFC Bank to independent Caribbean bank Republic Bank Ltd, the company said in a statement on Wednesday.

Abraaj acquired an initial stake in 2010 and a further stake last year.

"Our investment in HFC was well timed as we capitalized on the rapid growth in the banking sector in Ghana," read the statement, which gave no details of the value of the sale.