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DPI, a leading Africa-focused private equity firm with US$1.1 billion in assets under management, is pleased to announce that its ADP I Fund has successfully sold its 27.7% shareholding in CAL Bank in Ghana to Arise BV, a financial services investment company whose major shareholders are Norfund, Rabobank and FMO. Settlement is to be effected on 14 February 2017.

CAL Bank is one of Ghana’s leading independent banks and is active in corporate, retail and investment banking. CAL Bank is listed on the Ghana Stock Exchange and is the 3rd largest bank in Ghana based on loans advanced. CAL Bank has a strong track record of delivering high growth and solid financial performance and is spearheaded by a highly skilled and experienced management team. With the support of Arise, CAL Bank is well-positioned to deliver future growth in Ghana, one of Africa’s core emerging economies.