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Business News of Tuesday, 1 August 2017


Dr. John Kofi Mensah is new ADB MD

Dr. John Kofi Mensah has assumed office as the new Managing Director of Agricultural Development Bank (ADB) effective today, August 1st, 2017.

He takes over from Mr. Daniel Asiedu.

Citi Business News understands Mr. Asiedu last occupied the position on Thursday, July 27, 2017.

President Akufo-Addo on July 17th, nominated Dr. John Kofi Mensah as the new MD of ADB.

His appointment was however subject to approval by the Board of Directors of the bank.

It is unclear where Daniel Asiedu will be heading from ADB.

But sources close to him say he will be returning to the financial market soon after a short rest.

Dr. John Kofi Mensah holds a Doctor of Business Administration (DBA) degree (Finance option) from the Swiss Management Centre University, Switzerland.

He also holds an MSc degree in Banking and Finance from FINAFRICA in Milan, Italy and a BA degree in Economics and Statistics from the University of Ghana, Legon.

He has over twenty-six years’ experience within the banking industry with special expertise in Treasury Management, Credit management, Foreign Operations and nurturing new and distressed banks and financial institutions.

He is credited with the transformation of First Capital Plus into a bank from a savings and Loans company.

Prior to joining First Capital Plus, he was the Deputy Managing Director of Unibank Ghana.

Meanwhile, Mr. Daniel Asiedu joined ADB as its MD on 1st March 2016 when he resigned from Zenith Bank as its MD.

Despite his short stint at the bank, he is credited with ADB's listing on the Ghana Stock Exchange in 2016.