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(Alliance News) - Westminster Group PLC said Thursday it has appointed John Maynard Mawuli Ababio as non-executive director with immediate effect.
The security firm said Mawuli Ababio is an accomplished corporate financier and investment banker with over 30 year's experience in structuring private equity and project financing transactions in Africa.
Since 2012 he has been the vice-chair and managing partner of PCM Capital Advisors, a regional private equity fund with a diversified investment portfolio in several countries in the West Africa sub-region, Westminster Group said.
Tony Baldry, chair of the company, said: "Given our recent announcements regarding our Tema project, which we continue to successfully operate and receive revenues, I am equally delighted Mawuli will be on board of our new subsidiary, Westminster International (Ghana) Ltd, providing oversight and corporate governance to what we expect to be an important and growing part of our business."
Westminster signed a technical partnership agreement with Ghanaian firm Scanport Ltd in March, with the aim to enter negotiations with Meridian Port Services Ltd for a contract to manage and operate container screening services at the new Tema container port in Ghana.
In mid-September, Westminster said the Tema project was being undertaken by Meridian, with the firm receiving payments on account of work undertaken. Formal contracts, however, were yet to be signed between Meridian and the GPHA.
Westminster shares were down 2.6% in London at 13.88 pence each on Friday afternoon.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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