Finance Minister Dr. Cassiel Ato Forson has inaugurated a new 9-member board for the National Investment Bank (NIB), pledging a major government decision to recapitalise the bank.
Speaking at the inauguration ceremony, Dr. Ato Forson acknowledged that NIB had been subjected to political interference in the past but emphasised that this era has come to an end.
“NIB was turned into a political football. But that ends now,” the Finance Minister declared.
He further revealed that the government has taken a bold step to recapitalise NIB and committed to disclose further details of the plan during the upcoming mid-year budget review.
The newly inaugurated board is chaired by former Chief Executive Officer of Cal Bank, Frank Adu Jnr, who expressed gratitude to the Finance Minister and appealed for continued support to help turn around the bank’s fortunes.
The complete board composition includes:
- Managing Director: Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai
- Dr. Othniel Ekow Kwainoe
- Ebenezer Kwaku Addo
- Dr. Mrs. Mercy Naa Aku Ofei-Koranteng
- Dr. Shani Bashiru
- Mr. Max George Cobbina
- Dr. Kwasi Akyem Apea-Kubi
- Dr. Alfred Attuquaye Botchway
The Finance Minister urged the new board to work with integrity and ensure that the NIB once again plays its strategic role in Ghana’s development finance ecosystem.
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Also, Dr Cassiel Ato Forson, has inaugurated a new Board of Directors for the Agricultural Development Bank (ADB), urging them to stay committed to the bank’s core mandate of supporting Ghana’s agricultural transformation.
Speaking at a brief induction ceremony in Accra, Dr Forson emphasised the central role of agriculture in the nation’s development and charged the new board to focus their efforts on bolstering the sector.
“No country can achieve sustainable growth without a vibrant and resilient agricultural sector,” the Minister said. “I have therefore tasked the new board to remain focused and guided by their primary mandate — serving Ghana’s agricultural sector.”
Dr Forson also announced plans to recapitalise the bank in 2026 to enable it to better support farmers and agribusinesses. “This move is aimed at strengthening ADB’s financial position so it can provide enhanced support for agricultural value chain initiatives,” he said.
The newly constituted board is chaired by renowned finance and investment expert, Mr Kenneth Kwamina Thompson. Mr Edward Ato Sarpong, a seasoned public sector administrator and former Deputy Minister of Communications, assumes the role of Managing Director.
Other members of the board include:
- Hon Andrew Dari Chiwitey
- Mr Siisi Essuman-Ocran
- Hon Dr E. Prince Arhin
- Hon Misbahu Mahama Adams
- Wing Commander Samuel J.A. Allotey
- Mr Courage Akanwunge Asabagna
- Mr Abdul Nasir M. Saani
The new board is expected to drive ADB’s strategic vision of becoming a leading financial institution in agriculture and rural development.
ADB, originally established to provide targeted financing to the agricultural sector, has in recent years been under public scrutiny to refocus on its foundational mission amid increasing commercial competition.
The Finance Minister expressed confidence in the board’s capabilities, urging them to uphold high standards of governance, accountability and innovation in service delivery.
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“I believe this board, with its blend of experience, technical knowledge and commitment, will help reposition ADB as a catalyst for Ghana’s agricultural transformation,” Dr Forson concluded.
