New ADB board charged to continue with agric focus

The new Board of Directors of the Agricultural Development Bank Limited (ADB) have been sworn into office with the charge to continue with its core mandate of agricultural financing.

At a ceremony at the Ministry of Finance, a Deputy Minister of Finance, Dr. John Kumah commended the previous board for refocusing the bank on its core mandate of agricultural financing and was optimistic the new board will continue with the vision of making the bank the best bank for agribusiness financing in the country.

The nine-member board is chaired by Daasebre Akuamoah Agyepong II, Omanhene of the Kwahu Traditional Area with Dr. John Kofi Mensah (Managing Director), Alhaji Habib Iddrisu, Prof. Eric Yirenkyi Danquah, Abena Osei-Asare, Prof. Peter Quartey, George Kwabena Abankwah-Yeboah, Mr. Evron Rothschild Hughes and Mary Abla Kessie as members.

“With the coming in of the National Development Bank, ADB will get more funds for medium- and long-term agricultural financing programmes and I am sure this will help increase the Banks portfolio in the sector,” he said.

According to the deputy minister, the bank is well positioned to assist the National Development Bank equally fulfil its mandate of providing long term loans for agribusiness financing to ensure food security and create wealth for Ghanaians.

“ADB has since 2017 remained a key partner to government initiatives such as the Planting for Food & Jobs, Rearing for Food & Jobs and also the novel One District One Factory initiative and I wish to commend the Bank for such a support,” he said.

The new Board Chairman, Daasebre Akuamoah Agyepong II, on behalf of the members, thanked the President, Nana Addo Dankwa Akuffo Addo and other shareholders for the opportunity for them to serve as directors on the ADB board.

He pledged the determination of the board to work assiduously so the bank can start paying dividends to government whiles ensuring the bank focuses on agricultural financing. “We are going to work hard to ensure we continue to improve on the financial performance of the Bank so we can pay dividends to shareholders,” he said.

Source: B&FT