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Monday, August 8, 2022

New ADB MD to turn bank’s fortunes around – Bankers



Bankers have welcomed the appointment of the former Managing Director (MD) of Zenith Bank, Daniel Asiedu, as the new MD of Agricultural Development Bank (ADB).

Daniel Asiedu who recently retired from Zenith Bank after being at the helm of affairs for 6 years, having been appointed MD of that bank in 2010, takes over from Stephen Kpordzih who resigned from the bank on January 11, 2016.

Industry watchers in Ghana’s banking sector believe he is better placed to turn the woes of ADB to better fortunes.

In an interview with Citi Business News, Banking consultant and Head of the Osei Tutu II Centre for Executive Education and Research, Nana Otuo Acheampong said, Daniel Aseidu’s appointment can reposition ADB as one of the best banks in the country.

“We received this news with excitement because of Daniel Asiedu’s track record in the industry because he is a well respected gentleman plus he has a can do it spirit so whatever problems that ADB may have had, I’m sure he will be able to steer the affairs to the right direction,” Nana Otuo Acheampong said.

Staff opposition

On Mr. Asiedu’s ability to address issues relating to disagreement between staff and MD, Nana Otuo said,

“For the staff to be fighting the MD, it is not normal in the banking industry and I think that was an HR issue which went on; so we expect that somebody in the stature of Daniel Asiedu will be able to put things right and hopefully move the bank to the right direction.”

Developing Agriculture in Ghana

Meanwhile Nana Otuo Acheampong believes Daniel Asiedu has a responsibility to ensure ADB lives to its core mandate of helping to develop Ghana’s agricultural sector,

“Now ADB is one of only two developmental banks in Ghana; the other one being NIB and they have the remit where they are supposed to help the economy in its developmental stages so if he is able to re-position the bank to concentrate on its core mandate which is the agricultural sector, which we all accept as part of the economy in Ghana as where part of our future lies, then we will be in the right direction,” He noted.

By: Norvan Acquah – Hayford/citifmonline/Ghana


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