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New Board for Consolidated Bank Inaugurated

New Board for Consolidated Bank Inaugurated

CBG Inauguration

Accra, 17th September, 2021 - The newly sworn-in Governing Board for the Consolidated Bank Ghana (CBG) has been urged to propose strategies to promote Small and Medium Enterprises (SME) lending and digital banking services for the benefit of the unserved and underserved in the financial sector.

The Deputy Minister of Finance, Abena Osei Asare who gave this charge at the inaugural ceremony of a ten-member board for the CBG on behalf of the Minister for Finance, Ken Ofori-Atta, added that SME financing was critical to government as the private sector was a priority area for government.

“It is therefore my believe that this newly inaugurated Board would work together as a united force to lead CBG to achieve its mandate of being the preferred SME Bank offering innovative digital financial solutions, with the objective of fostering financial inclusion amongst the unbanked and informal sector, while partnering and supporting Government initiatives and agenda”.

Mrs Abena Osei Asare further advised the board to strategically position the bank to leverage on the soon to establish Development Bank Ghana (DBG). This she said, would enable them raise “patient and cheaper funds, to finance critical areas in the economy to stimulate growth and job creation”.

The Deputy Minister believed that CBG in partnership with DBG could support the creation of sustainable businesses and the expansion of Small and Medium-size Enterprises to enable them take advantage of the Africa Continental Free Trade Area (AfCFTA) and build regionally and globally competitive Ghanaian companies.

She commended CBG for surmounting many challenges inherited due to assets and liabilities it assumed from the seven defunct banks which were consolidated into the CBG, adding that government was pleased with the transformation process to improve its governance, risk management practices, brand image and customer integration.

“Government therefore admonishes the new Governing Board to improve further the operations of the bank in order to consolidate and solidify the progress made”, she added.

Mr. Welbeck Abra-Appiah is the Chairperson of the CBG Board. The directors are, Mr. Daniel Wilson Kodwo Addo, Hon. Bright Bakye Yelviel Baligi, Mr, Kwamina Bensti Enchil Duker and Mrs. Maureen Abla Amematekpor. The others are Madam Gloria Owusu, Mr. Phillip Osafo-Kwaako, Mr. Edward Prince Amoatia Younge, Madam Afua Djimi and Mr. Yaw Asamoah.

The Chairperson, Mr. Abra-Appiah pledged his utmost commitment to uphold the reputation of the bank. He assured on behalf of the board to influence positively towards promoting Small and Medium Enterprises (SME) lending and digital banking services. END.

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