Emmanuel Afari
Associate Director

Emmanuel is an Investment Banker with a wealth of experience in corporate finance, project finance, asset management and banking spanning about 27 years.
Emmanuel worked for Merchant Bank (GH) Limited (now Universal Merchant Bank – UMB) between June 1999 and June 2016, where he rose through the ranks to become the Head of the Bank’s Corporate Finance Department. As the Head of the Corporate Finance Department, Emmanuel provided leadership role in meeting clients’ requirements by providing advice and /or transaction management in the following areas, amongst others:
- Issue and offering of securities;
- Financial valuation of businesses for the purposes of initial Public Offerings (IPOs), Private Placements, Rights Issue, Mergers and Acquisitions, etc.;
- Privatization advisory work;
- Mergers and acquisitions as well as corporate restructuring exercises;
- Project financing;
- Leasing
- Structured finance.
At UMB he led a team of investment bankers to advise on a number of transactions on the capital market, including the GOIL and SIC IPOs in 2007, which involved the raising in total GH¢55.7 million on the stock market for the two companies. He was the Transaction Advisor to Kama Industries Limited during its acquisition by Aspen Pharmacare Holdings of South Africa in 2015. He played a key role in the raising of capital for companies through equity and bond issues such as the HFC Housbonds issued by HFC Bank (now Republic Bank).
He has carried out a number of corporate valuation exercises on companies in the financial, pharmaceutical, manufacturing and other sectors.
Emmanuel briefly worked for Dupaul Wood Treatment Limited in Takoradi as Management Trainee, before joining the National Investment Bank Limited (NIB) as a Project Officer in June 1994. At NIB, Emmanuel worked on a number of projects involving:
- Project feasibility report / business plan preparation and review;
- Project / loan review and appraisal;
- Project financing;
- Project / loan monitoring and supervision;
- Loan syndication;
- Loan recovery and restructuring.
Emmanuel graduated from the University of Ghana, Legon in 1991 with a B.A. (Hons) in Economics and Sociology. He holds an International Executive MBA (Banking and Finance) from the Paris Graduate School of Management, France (PGSM) as well as Ghana Stock Exchange Securities Course Certificate.