Ecobank Ghana appoints Joana Mensah as Acting MD

Ecobank Ghana, has announced Ms. Joana Mensah as the acting Managing Director. She replaces Dan Sackey, who headed the bank from 2016 to August 15, 2023, when he officially retired.

Joana Mensah is expected to remain in this role until a substantive person is named later. The bank is yet to announce the timeline for the appointment of a substantive MD.

Until this appointment, Mensah was the Country Chief Risk Officer of Ecobank Ghana, responsible for managing the enterprise-wide risk functions across the bank since May 2019.

In this capacity, she had direct supervision of credit risk, market risk, operational risk as well as Environmental Social and Governance, and worked through the Management Risk Committee to cover other risk areas.

Her career with Ecobank Ghana started in August 1993, when she joined the bank as a Financial Analyst with the Corporate Banking Department.

SME portfolio

She subsequently served as a Relationship Manager in charge of the SME Portfolio and was eventually appointed as the Head of Commercial Banking in 1999.

In 2005, Ms Mensah Joana was appointed as Country Risk Manager with dual responsibility as the Regional Risk Manager for the West African Monetary Zone (WAMZ), which is currently the Anglophone West Africa (AWA) region.

Based on her rich credit experience and expertise in exercising sound credit judgment, she was also appointed as Senior Credit Officer by Ecobank Transnational Inc., the parent company of Ecobank Ghana, responsible for approving large credit exposures and high-risk exposures for the AWA Region. She has a strong background in SME development, Corporate Banking/ Strategy and Risk Management.

The Acting MD holds an MBA in Finance and a BSc. in Agricultural Economics from the University of Ghana, Legon. She presently serves as a member of the Board of Directors of Ecobank Gambia and previously served on the Boards of Ecobank Sierra Leone and Ecobank Ghana Venture Fund.

Financial performance

Mensah comes into office just as the bank has completely recovered from the dip in its financial performance, unavoidably caused by the effects of Ghana’s Domestic Debt Exchange Programme (DDEP), which imposed a significant adverse impact on nearly all banks.

Ecobank Ghana, for long the industry leader, announced its financial performance for the first half of 2023 that showed that it is well on course to successfully navigating the treacherous terrain thrown up by the country’s debt restructuring exercise.

The bank is back to profitability after impairment charges on its holding of government debt securities, leading to huge losses for both the full 2022 financial year and the first quarter of 2023.

Comments

US-Based Doctor Supports Weija Leprosarium, Underprivileged Children In Ankaase With Cash & Food Items

In a remarkable display of philanthropy, US-based medical practitioner, Dr. Kofi Kyei Sarfo, and the Sarfo family have made significant donations to support vulnerable communities in Ghana. During his visit to Ghana for the Christmas and New Year festivities, Dr. Sarfo and his family donated assorted food items and $5,000 to the Weija Leprosarium in Accra. This generous act aims to improve the lives of the inmates and support the tireless efforts of Rev. Father Andrew Campbell, founder of the Lepers Aid Committee. The donation to the Weija Leprosarium is a testament to Dr. Sarfo's commitment to giving back to his community. He praised Rev. Father Andrew Campbell for his selfless work in integrating cured lepers into society, emphasizing the need for continued support to ensure the well-being of the inmates. Dr. Sarfo encouraged others to follow in his footsteps, stating that every donation, no matter how small, can make a significant difference in the lives of the inmates. The don...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...

Mfantsiman Girls to Host 65th Speech & Prize-Giving Day

Mfantsiman Girls Senior High School is set to host the 65th Speech and Prize-giving Day and Homecoming from 14th to 16th March at Saltpond in the Central region. This year’s Speech and Prize-giving day is being hosted by the 2000-year group, and over 5000 old girls and students of Mfantsiman Girls are expected to attend the programme. Under the theme, ‘Leveraging New Media Technology to Optimize Girl Child Education,’ the event will emphasize the importance of harnessing technology to address the unique challenges faced by girls in accessing quality education, particularly in marginalized communities. By leveraging new media technology, we can create inclusive, interactive, and engaging learning environments that empower girls to reach their full potential. The theme will also serve as a call to action, encouraging students, educators, and stakeholders to explore innovative ways to integrate technology into girl child education, ultimately driving positive change and promoting a...

Kofi Ahovi

Search This Blog