By Edward Dankwah, GNA
Accra, July 15, GNA – The Chartered Institute of Bankers (CIB) Ghana has elected Dr Ellen Ohene-Afoakwa, Fellow of the Chartered Institute of Bankers (FCIB), as its President for a two-year term at the Institute’s sixth Annual General Meeting (AGM) in Accra.
Dr Ohene-Afoakwa, Managing Executive for Corporate and Investment Banking at Absa Bank Ghana Ltd and a former Governing Council member of the Institute, succeeds the outgoing leadership with a commitment to strengthening professionalism and capacity development in Ghana’s banking sector.
She will be assisted by Mr Woelinam Dogbe, FCIB, Deputy Director-General of Investment and Development at the Social Security and National Insurance Trust (SSNIT), who was elected Vice President.
The newly elected Governing Council also includes Mrs Rosemond Amoo, FCIB, Consultant in Human Resource Management, Customer Service Relations and Dispute Resolution Support at Horizon Insurance Brokers Limited.
The rest are Mrs Doris Yaa Aggrey Ahiati, FCIB, Chief Executive Officer of Crescendo Consult Limited and Mr Daniel Arhin, ACIB, Manager, Lending at Standard Bank Offshore, Isle of Man, United Kingdom.
In her acceptance speech, Dr Ohene-Afoakwa said education, skills development and staff welfare would form the three key pillars of the new administration.
She pledged to uphold the Institute’s mandate of promoting banking education and regulating the practice of the profession through professionalism, ethical conduct, continuous learning and innovation.
The new President also expressed her commitment to working with stakeholders across the financial sector to build institutional capacity, enhance the Institute’s visibility, increase value for members and mentor the next generation of banking professionals.
She said the Institute would continue to play a leading role in shaping Ghana’s financial sector through advocacy and professional excellence.
The election coincided with the presentation and approval of the Institute’s 2025 financial statements, which reflected strong operational and financial performance.
The Institute recorded total revenue of GH¢18.82 million in 2025, representing a 33 per cent increase over the previous year, while net operational surplus rose by 36 per cent to GH¢1.48 million.
Non-subscription income accounted for GH¢13.77 million, representing 73 per cent of total revenue, while subscription income stood at GH¢5.05 million.
Examination and student activities emerged as the strongest revenue source, growing by 174 per cent to GH¢5.22 million. Commercial training income also increased by 86 per cent, while income from the annual Bankers Week celebration rose by 158 per cent.
Rental income from the Institute’s renovated auditorium increased by 40 per cent to GH¢1.2 million, while interest income more than doubled to GH¢776,731 due to improved liquidity management.
Although total expenditure rose by 32 per cent to GH¢17.33 million, largely driven by staff costs, professional development activities and examination delivery expenses, the Institute maintained a healthy financial position.
The members’ fund grew by 21 per cent to GH¢8.52 million despite an adjustment arising from the write-off of an irrecoverable investment, underscoring the Institute’s strong financial resilience and sustainable growth.
GNA
Edited by Kenneth Odeng Adade