An activist and a communication member of the New Patriotic Party (NPP), Nana Osei Bonsu, has commended the Managing Director of the Agricultural Development Bank (adb), Dr. John Kofi Mensah.
According to him, since Dr. Mensah took up post as MD on August 1, 2017, he has been able to position the bank to meet the minimum capital requirement of 400million by the Bank of Ghana (BoG).
Dr. Mensah, who is a renowned Economist and Banker with 25 years of experience in different sectors of Banking, ranging from start -up and delinquent banks operations, credit and foreign/Treasury management of Universal Banks, has made the adb, the preferred destination for most investors.
Nana Osei, who was full of praise for Dr. Mensah, said “In his less than two years at the helm of affairs at adb, he has set up special desks in the branches to promote businesses in the agricultural value chain, which in line with the core objective of the bank”.\
At a customer appreciation week in July, in the Ashanti regional capital, Kumasi, Dr. Mensah, said, the desks are part of measures to strengthen the bank’s core objective of promoting agriculture.
Ashanti and Brong Ahafo regions, will be the focus of the initiative due to the high concentration of agric-related businesses in the zone.
Nana Osei said, “The proposed merger between adb, and the National Investment Bank (NIB), could not go through, because of the sterling leadership of Dr. Mensah, who was able to assure the government of adb’s ability to recapitalize”.
Highlighting further on Dr. Mensah’s achievements at adb, Nana Osei Bonsu said, “Through his exemplary leadership, the Bank at the end of the 2017 Financial Year, posted a profit before tax in excess of forty-seven million Ghana Cedis (GH¢47,339.000.00) after two conservative years of losses from 2015”
He continued that, the bank has also recorded a decline in its Non-Performing Loans (NPL) and witnessed a steady rise in confidence of the ADB Brand under his leadership. He has introduced new and proactive strategies in financing agriculture.
On awards, Dr. Mensah, last month awarded the Business Growth Achievements award at the 2nd Ghana SMEs and Young CEOs Summit in Accra.
The award was given by the Chief Executives Network Ghana Limited at the Kempinski Hotel in Accra for his contribution to the growth of the financial sector in the country, especially the Agricultural Development Bank.
The bank was adjudged winners of the Industry Leadership award at the maiden edition of the Ghana Business Awards.
The awards ceremony was in recognition of the bank’s exemplary leadership in banking, which includes being the first bank to partner with Western Union to introduce global remittances service in Ghana, the lead sponsor of the National Farmers Day and one of the first banks to have branches nationwide.
With these achievements and putting the bank on a sound footing, Nana Osei Bonsu, who spoke to the Herald, appealed to president Akufo-Addo, to elevate Dr. Mensah and make him a minister.
He said “With little and with the bank at the verge of collapse, this man was able to achieve a lot and make the bank, the envy of other banks, he deserves a post bigger than this”