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Are you looking for a low cost, low risk investment opportunity in Ethiopia with great prospects for success?
Let us introduce you to Berhan International Bank S.Co. - a share company under formation in Ethiopia that is currently accepting applications for the purchase of shares in its initial offering.
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Summary of Share Offering
(See Prospectus for full details)
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Par Value (per share)
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ETB 1,000 |
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Service Charge (per share)
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ETB 30
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| Terms of Payment |
Minimum 25% of Purchase Price + 100% of Service Charge to begin with. Remaining sum to be paid over 3 years. |
Minimum Investment
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5 shares (ETB 5,000 + Service charge)
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Maximum Investment
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3,750 shares (ETB 3,750,000 + Service charge)
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Founding Shareholder Benefits
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Privileged pay of 5% of profits for the first 3 years plus regular dividends
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| Initial Offering Closing Date |
November 5, 2008
***While the opening period for founding shareholder purchases is now closed, common stock shares of Berhan Bank are still available through this offer (11/20).
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| Initial Offering Closing Date |
None.
Shares may be purchased under the same terms as outlined above with the exception that founding member benefits are no longer extended. Shares will continue to be available until the target capitalization (300 million ETB) has been reached.
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***Announcement: Berhan International Bank held its first General Meeting of Shareholders on November 8, 2008 where it was announced that it had exceeded its initial capital raising target and is now set to begin operations shortly. Read the update for more info.
Vision
Berhan International Bank's vision is to become a first choice partner
to individuals and businesses in Ethiopia's development process through
the provision of efficient and wide ranging banking services in a
manner that is profitable to its shareholders.
A Strong Sector
Poised to enter Ethiopia's fast growing financial sector with a plan to offer services differentiated through the highest possible standards of integrity and reliability, Berhan International Bank is ready to make a positive impact in the sector. It is well known that the banking sector in Ethiopia has routinely outperformed others with annual dividends of 30-40% and above being commonplace. Berhan International expects that its strategy of differentiated service offerings targeted at discerning customers will allow it to yield its shareholders similar returns or better, in short order.
Low Entry Cost
With an initial offering of 300,000 shares of 1,000 ETB par value and a minimum purchase requirement of only 5 shares, this represents one of the lowest entry costs for a bank share offering seen in Ethiopia. Previous share offerings by other banks have had minimum investment
amounts in excess of 50,000 ETB or $5,000USD. Berhan International's
minimum share purchase amount is just $500 USD reflecting the
organizing committee's desire to open the opportunity of getting in on
the ground floor of such an opportunity to a greater number of
shareholders.
Backed by Experience
The organizing committee of the Company is comprised of a number of individuals who are currently running a variety of prominent and successful businesses in Ethiopia. This committee will oversee the formation process of the Bank but will be replaced upon formation by a Board of Directors which will be elected by the first General Assembly of Shareholders as required by law. The Bank's Principal Advisor (who is also a member of the Organizing Committee) is a seasoned veteran of the banking industry in Ethiopia with over 15 years of experience in the finance sector including 5 years as Managing Director of Dashen Bank, one of the most successful private banks currently operating in Ethiopia.
Secure and Transparent
The Bank is a Share Company under formation in accordance with the Ethiopian Commercial Code (1960) that has been duly registered by the National Bank of Ethiopia with an authorized capital of 300 million ETB. As required by law, all payments for the purchase of shares is deposited into a blocked account which can only be released by written authorization of the National Bank of Ethiopia to the Board of Directors upon actual formation of the Bank. This Board is to be elected by the first general assembly of shareholders on record.
More Information
For more information including a full prospectus on this opportunity, contact Emergent Global by email at
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or by phone at (703) 435-9455. Emergent can provide a full range of services to support your investment in Berhan International Bank including representation & signatory services as well as financial transfer and deposit verification if desired.
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