Skip to main content

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.

 
Labels:

Comments

Post a Comment

Popular posts from this blog

MTN Ghana & MTN MoMo CEOs win laurels at Ghana CEO Awards

  The Chief Executive Officer of MTN Ghana, Selorm Adadevoh ,   has been adjudged  CEO of the Year  –  Telecom  at the  2 nd  edition of the  Ghana CEO  Vision  and  Awards   held  in Accra. At the same event, the CEO of Mobile Money Limited (MTN MoMo), Shaibu Haruna was also adjudged CEO of the Year – FinTech Service Provider. Selorm  Adadevoh’s award  is in recognition  of  his   achievements   in the areas of   sustainability, leadership excellence, innovation and others  in the telecoms space  which  has contributed to  job creation to support the  growth of Ghana’s economy. Patrick Afari (r), General Manager, Supply Chain Management and General Services receiving CEO of the Year – Telecom Award on behalf of Selorm Adadevoh Receiving the award on behalf of Selorm, Patrick Afari, General Manager, Supply Chain Management and General Services ,  expressed appreciation to the organizers for the award. He  noted that  th e  award will go a long way to inspire MTN to do more for Ghanaian
Post a Comment
Read more

EB-ACCION DISBURSES US$15 MILLION

By Fred SARPONG Ecobank-Accion (EB-Accion), a partnership between Ecobank Ghana Limited and Accion International has disbursed amount to the tune of $15 million to over 36,000 borrowers in Micro, Small and Medium Enterprises (MSMEs) sector in the country, since the institution was set up barely six months ago. Frances Adu-Mantey, the Managing Director of EB-Accion disclosed this to Business Week in Accra last week during the official opening of Accion Hub headquarters in Africa. The institution’s current portfolio stands at GH¢4 million. She stated that currently, EB-Accion have over 6100 customers who save with them throughout the four branches of the institution. According to her, in order to improve the services of the institution, Ecobank Share Services center will facilitate the technology aspect of the bank by networking all the branches of EB-Accion. Maria Otero, President and Chief Executive Officer of Accion International said that the center’s staff in Accra will provide supp
Post a Comment
Read more

Amantin & Kasei Community Bank posts impressive growth, with over GH¢1m profit

 Amantin and Kasei Community Bank, at Amantin in the Bono East Region has posted impressive growth in all the performance indicators during 2022 financial year under review. The bank recorded profit after tax of GH¢1,055,662, representing 35.66% more over the 2021 figure of GH¢778.151. This achievement stemmed out of 49.24% gross income growth from GH¢8,143,526 to GH¢12,153,537. Total deposits of the bank went up by 36.20%, changing from GH¢50,959,848 in 2021 to GH¢69,405,591 in 2022. The bank increased loans and advances by 22.15% from GH¢14,128,017 to GH¢17,257,614. Total assets showed an appreciation of 29.32%, amounting to GH¢77,918,288 as against GH¢60,250,693 in the previous year. On the other hand, the bank posted a marginal increase in short term investments portfolio from GH¢24,439,761 to GH¢26,585,698, indicating 8.78% change. The Chairman of Board of Directors, Amantin and Kasei Community Bank, Dr. John Oduro-Boateng, disclosed this during the 18th annual general meeting of
Post a Comment
Read more