Unibank
Unibank’s sponsorship deal with Black Stars hangs by a thread after the indigenous bank was declared insolvent by the Bank of Ghana on Tuesday.
In November 2016, Unibank renewed its partnership with the Ghana FA by signing a three-year-deal worth US$ 1.2m.
The Bank of Ghana has appointed audit firm KPMG as Official Administrator aimed at saving UniBank from imminent collapse.
Unibank among other things persistently maintained a capital adequacy ratio (CAR) below zero (currently negative 24%), making it technically insolvent.
It contravenes section 29 of Act 930 which requires a minimum CAR of 10% to be maintained at all ti…
Read the full article at: http://ghanasoccernet.com/black-stars-to-lose-headline-sponsors-as-unibank-is-declared-insolvent
