FirstBanC Financial Services
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What are shares?

An ordinary share represents equity ownership in a company and entitles the owner to a vote in matters put before shareholders in proportion to their percentage ownership in the company.

What are the Benefits of Investing in Shares?

The benefits of investing in shares include dividends and capital gains.

Dividends are the distribution of a portion of a company's earnings, decided by the board of directors, to its shareholders. The dividend is most often quoted in terms of the Cedi amount each share receives (dividends per share). It can also be quoted in terms of a percent of the current market price, referred to as dividend yield.

Capital gains are an increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year). A capital loss is incurred when there is a decrease in the capital asset value compared to an asset's purchase price.

Is your offer catered to individual foreign investors?

Yes we cater for foreign clients.

What is the procedure for opening a brokerage account with your company?

The potential client will have to fill out a couple of forms which can be downloaded from our website. The client must attach a copy of the passport page containing his/ her details, or a valid national I.D and attach a passport sized photograph. These can be scanned and emailed for early setup of the account. The original forms must be sent by regular mail.

What is the minimum opening balance requirement?

FirstBanC does not require a minimum cash amount to open a securities account. In fact the account is opened free of charge and is only funded when the investor has decided on the securities and the volumes s/he wants.   The requirements to open the account are; a passport picture, proof of identity (in this case a copy of the page of your passport bearing your details) and fill out a couple of forms and the account will be opened.

We however have two securities products that require minimum cash amount to open.

The Wealth Builder Account requires a minimum of ¢1,000.00 (US$600.00) to open and regular monthly investments of minimum ¢200.00 (US$ 120.00). The aim of this account is to help investors grow wealth through regular investments. FirstBanC Analysts will recommend well researched securities to the investor for consideration for their portfolios.

The Platinum Account is a discretionary account requiring a minimum of ¢30,000.00 (US$18,000.00). This is a managed account that attracts a management fee of 1% per annum on assets under management aside the transactional costs which will not exceed 2.5% per executed trade.

Are you able to provide your foreign customers with a nominee account?

Yes we have facilities to provide nominee account services to our clients.

What fees and commissions are associated with opening a brokerage account with your company (maintenance fees, trading fees, etc.)

Executed trades attract transactional fees of 2.5% of the value of the transaction. This fee includes charges paid on trade by trade basis to the Ghana Stock Exchange, the Securities and Exchange Commission, the Ghana Securities Depository and Broker fees. We do not charge maintenance fees.

Is it possible to submit trading orders via e-mail?

Yes you submit your orders via email. Orders may even be submitted via phone calls or text message but such orders must be confirmed by email before the orders will be executed.

What kind of research (if any) do you provide your customers with?

We have a very strong research department which carries out company research, equity research and economic research for and behalf of our clients. We have daily and weekly research snapshots on the economy and equities which our clients can subscribe to.

Do you (or your subsidiaries/branches) offer brokerage services for other African countries (besides Ghana)?

We do not do that currently, but we have firms we can use to execute your transactions in those countries
In all cases you can decide to deal directly with FirstBanC or through a Custodian of your choice. We can recommend some custodians should you desire to use custodial services. The custodians also charge fees for the services provided which may increase your overall transaction costs.

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Contact Us

FirstBanC Financial Services
7 Volta Street
Airport Residential Area
P.O. Box 1464 Osu, Accra
Tel: +233 302-781 483/4/6/9
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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