The Managing Director of the Agricultural Development Bank (ADB), Dr. John Kofi Mensah, has been inducted into the Chief Executives Network Hall of Fame at the just-ended 5th Ghana CEOs’ Network Summit held in Accra.
The induction into the Hall of Fame is in recognition of Dr. Kofi Mensah’s significant contribution to the Ghanaian banking sector and his leadership role in helping to move the country forward through innovative and proactive initiatives, which have led to more resilient companies being built.
The CEOs’ Summit was attended by over 400 high level decision-makers, business leaders, entrepreneurs and chief executives, with Ghana’s Vice President, Dr. Mahamudu Bawumia being the Special Guest of Honour.
Since Dr. Mensah assumed office in 2017 as the Managing Director of ADB, the bank has witnessed a progressive growth in its financials from loss-making to profit-making, with more digital innovation products and brand network expansion.
Under the leadership of Dr. Kofi Mensah, the Bank registered a profit-after-tax of GH¢65 million, approximately 341% year-on-year growth for last year. The balance sheet size of the bank as at the end of December last year was GH¢10.5 billion, as against GH¢8.3 billion in 2019.
The Bank has also refocused to its core mandate of agribusiness financing by dedicating half of its total loan portfolio to agriculture-related businesses.
The bank, last year, announced a GH¢500 million Broiler Value Chain to help revive the Ghanaian poultry industry and significantly pre-financed the purchase of outboard motors for stakeholders in the fishing sector.
ADB has been a major partner on key government projects including One District One Factory, Planting for Food and Jobs, Rearing For Food and Jobs etc.
The induction into the Chief Executives’ Network Hall of Fame adds up to several accolades won by Dr. Kofi Mensah for his sterling leadership within Ghana’s banking industry.