The Chartered Institute of Bankers (CIB) Ghana has elected Dr. Ellen Ohene-Afoakwa, FCIB, as its new president for a two-year term.
She was elected at the Institute’s sixth Annual General Meeting (AGM), held in Accra on June 25, 2026, and succeeds to lead the professional body responsible for promoting banking education and regulating the practice of the banking profession in Ghana.
Dr. Ohene-Afoakwa, who is the Managing Executive for Corporate and Investment Banking at Absa Bank Ghana, previously served on the Institute’s Governing Council.
Joining her in the new leadership is Mr. Woelinam Dogbe, FCIB, Deputy Director-General of Investment and Development at the Social Security and National Insurance Trust (SSNIT), who was elected Vice President.
Also elected to the Governing Council are Rosemond Amoo, FCIB, Consultant in Human Resource Management, Customer Service Relations and Dispute Resolution Support at Horizon Insurance Brokers Ltd; Doris Yaa Aggrey Ahiati, FCIB, Chief Executive Officer of Crescendo Consult Ltd; and Daniel Arhin, ACIB, Manager, Lending at Standard Bank Offshore, Isle of Man.
In her acceptance speech, Dr. Ohene-Afoakwa said the new administration would focus on education, skills development and staff welfare while strengthening professionalism within Ghana’s banking industry.
She reaffirmed the Institute’s commitment to promoting ethical conduct, continuous learning and innovation, adding that the new leadership would work closely with stakeholders to build industry capacity, increase the Institute’s visibility, enhance value for members and mentor the next generation of banking professionals.
She also pledged to ensure that CIB Ghana continues to play a leading role in shaping the future of Ghana’s financial sector.
The leadership transition comes as the Institute reported a strong financial performance for 2025, with revenue increasing by 33% to GH¢18.82 million, supported by higher examination registrations and improved training activities.
The approved 2025 financial statements showed that non-subscription income accounted for GH¢13.77 million, representing 73% of total revenue, while subscription income contributed GH¢5.05 million.
Examination and student-related activities emerged as the Institute’s strongest-performing segment, with revenue surging 174% to GH¢5.22 million. Commercial training income also increased by 86%, while revenue from the annual Bankers Week celebration rose 158% to GH¢546,518.
In addition, rental income from the Institute’s renovated auditorium grew 40% to GH¢1.2 million, while interest income more than doubled to GH¢776,731, reflecting improved liquidity management.
Total expenditure increased 32% to GH¢17.33 million, largely driven by higher staff-related costs, which rose 27% to GH¢7.71 million following salary adjustments and bonus provisions.
Professional body activity expenses increased by 4% to GH¢2.63 million, while examination and student activity costs climbed 63%, reflecting increased spending on Chartered Banker for Executive Leadership (CBEL) programmes and examination delivery.
Despite the higher operating costs and the write-off of an irrecoverable investment, the Institute posted an operational surplus of GH¢1.48 million, representing a 36% increase over the previous year.
The members’ fund also strengthened, rising 21% to GH¢8.52 million, even after accounting for a GH¢304,195 adjustment relating to the write-off of the Gold Coast Securities investment.
Source: citinews
