CalBank reshuffles Board, appoints Kwei-Kumah as Chair

CalBank PLC has appointed new board members. Daniel Nii Kwei-Kumah Sackey will be the Chairman of the Board of Directors. His appointment is effective from March 20, 2025. This follows approval from the Bank of Ghana and endorsement by shareholders. Mr. Sackey succeeds Joe Mensah, who has been Chairman since 2019.

Mr. Sackey's appointment reflects CalBank’s commitment to growth and innovation in Ghana’s banking sector.

**Profile of Daniel Nii Kwei-Kumah Sackey**

Daniel Sackey is a seasoned banking executive with over 30 years of experience. He has held key roles at Ecobank in Ghana, Zimbabwe, and Rwanda. His expertise includes digital transformation and regulatory compliance. He holds an MBA in International Banking and Finance from the University of Birmingham. He also earned a BSc in Accounting from the University of Ghana.

Mr. Sackey aims to guide CalBank towards becoming a leading digital bank in Ghana.

In his statement, he expressed gratitude for his appointment. He said it is an honor to lead at this pivotal time for CalBank. He noted the Bank's resilience and strategic focus on financial recovery.

**New Board Members**

Alongside Mr. Sackey, several new board members have been endorsed:

- **Johnson Delali Oware**: Appointed as Executive Director and Deputy Managing Director, he specializes in corporate banking.

- **Kwadwo Brantuo Mpeani**: A Chartered Accountant with over 30 years in auditing and taxation.

- **Yvonne Ofosu-Appiah**: An investment professional with expertise in venture capital and private equity.

- **Gerrit Muller**: A seasoned investment expert with experience across Africa in financial services.

Managing Director Carl Asem expressed optimism about the new leadership team’s impact on CalBank's future.

**Strong Financial Performance**

The new appointments come as CalBank shows strong financial resilience. The Bank reported a Profit Before Tax of GHS 414.2 million for 2024, marking a significant recovery from previous losses.

Net Fees & Commission Income increased by 55.7% to GHS 179.6 million due to digital banking growth. Deposits rose by 29% to GHS 9.6 billion, reflecting customer confidence.

Loan recoveries reached GHS 792 million, showcasing effective risk management practices.

**Commitment to Sustainable Growth**

Under its new leadership, CalBank focuses on digital transformation and financial inclusion. The Board aims to execute a five-year strategic plan that enhances retail banking and strengthens risk management frameworks.

**Future Outlook for CalBank**

CalBank is set for continued growth under its new leadership team. With a focus on customer-centric banking and operational efficiency, it aims to strengthen its position as a leading financial institution in Ghana.

The experienced leadership team ensures adaptability within an evolving financial landscape while maintaining high standards of governance and customer service.