CalBank PLC appoints Daniel Nii Kwei-Kumah as new board chairman

CalBank PLC has appointed new board members. Daniel Nii Kwei-Kumah Sackey is the new Chairman of the Board of Directors. His appointment took effect on March 20, 2025. This followed approval from the Bank of Ghana and endorsement by shareholders.

Mr. Sackey succeeds Joe Mensah, who was Chairman since 2019. His appointment reflects CalBank’s commitment to sustainable 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 has extensive board experience in financial institutions and stock exchanges. He holds an MBA in International Banking and Finance from the University of Birmingham.

His skills in strategic planning and risk management make him a strong leader for CalBank. He aims to reinforce its position as a leading bank while promoting financial inclusion in Ghana.

Mr. Sackey expressed gratitude for his appointment. He stated it is an honor to lead CalBank at this pivotal time. The bank has shown resilience and strategic focus during its recovery.

**Strengthening the Board with Seasoned Experts**

New board members have been endorsed by shareholders, bringing valuable experience to CalBank:

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

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

- **Yvonne Ofosu-Appiah**: An investment professional with 17 years of experience in venture capital.

- **Gerrit Muller**: An investment expert with 21 years of experience across Africa's financial services sector.

Carl Asem, Managing Director of CalBank, expressed optimism about the bank's future under new leadership. He believes these appointments will enhance value for customers and stakeholders through sustainable practices.

**Strong Financial Performance and Future Outlook**

The new board members join CalBank during a period of financial resilience. The bank's audited results for 2024 show Profit Before Tax at GHS 414.2 million, marking a significant recovery from previous losses.

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

Loan recoveries reached GH¢792 million, highlighting effective risk management practices at the bank.

**Commitment to Sustainable Growth and Innovation**

CalBank is committed to driving digital transformation under its new leadership team. The Board aims to execute a five-year strategic plan focused on expanding retail banking and enhancing digital platforms.

They also plan to strengthen risk management frameworks while building partnerships for sustainable solutions.

**The Future of CalBank**

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

The experienced leadership team ensures adaptability within an evolving financial landscape while maintaining strong corporate governance standards.