CIB Ghana elects Dr. Ellen Ohene-Afoakwa as new President

The Chartered Institute of Bankers (CIB) Ghana has elected Dr. Ellen Ohene-Afoakwa, FCIB, as its new President for a two-year term, ushering in a new leadership team committed to advancing professionalism, capacity building and innovation within Ghana's banking industry.

Dr. Ohene-Afoakwa was elected during the Institute's Sixth Annual General Meeting (AGM) held at the CIB Ghana Auditorium in Accra on June 25, 2026.

She succeeds the outgoing leadership at a time when the Institute is reporting strong financial performance, marked by a significant increase in revenue and operational surplus.

Dr. Ohene-Afoakwa currently serves as Managing Executive for Corporate and Investment Banking at Absa Bank Ghana Ltd and previously served as a member of the Governing Council of the Chartered Institute of Bankers Ghana.

Joining her in the new leadership is Mr. Woelinam Dogbe, FCIB, Deputy Director-General for Investment and Development at the Social Security and National Insurance Trust (SSNIT), who was elected Vice President.

The newly elected Governing Council also comprises:

• 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.
• Daniel Arhin, ACIB – Manager, Lending, Standard Bank Offshore, Isle of Man, United Kingdom.

Together, they will provide strategic leadership for the Institute over the next two years.

In her acceptance speech, Dr. Ohene-Afoakwa pledged to strengthen professional banking education, enhance skills development and improve staff welfare as the key priorities of her administration.

She reaffirmed the Institute's mandate to promote banking education and regulate the banking profession in Ghana while maintaining high ethical and professional standards.

"I am fully honoured for the opportunity to serve as the President of this noble Institute. The mandate of CIB Ghana is to promote the study of banking and regulate the practice of the banking profession in the country.

"As an Institute, we will continue to champion professionalism, ethical conduct, continuous learning and innovation firmly anchored in the values and ethics that define our calling," she stated.

She also committed to working closely with regulators, financial institutions and other industry stakeholders to strengthen capacity development, improve member services and mentor the next generation of banking professionals.

According to her, CIB Ghana will continue to play a leading role in shaping policies and promoting excellence within Ghana's financial services sector.

The leadership transition comes as the Institute announced impressive financial results for the 2025 financial year.

Members at the AGM approved the Institute's audited accounts, which showed that total revenue increased by 33 per cent to GH¢18.82 million.

The strong performance was driven primarily by increased examination registrations, commercial training programmes and other non-subscription income.

According to the financial statements:

• Non-subscription income reached GH¢13.77 million, representing 73 per cent of total revenue.
• Subscription income amounted to GH¢5.05 million.

One of the strongest-performing segments was examination and student activities, which recorded a remarkable 174 per cent increase to GH¢5.22 million.

Commercial training programmes also performed strongly, with income rising by 86 per cent during the year.

Revenue generated from the annual Bankers Week celebration increased by 158 per cent to GH¢546,518, helping offset a decline in professional body activities following changes in Chartered Banker Executive Leadership (CBEL) fee allocations.

The Institute also benefited from investments in its infrastructure.

Rental income from its renovated auditorium increased by 40 per cent to GH¢1.2 million, following refurbishment works undertaken ahead of CIB Ghana's upcoming 60th anniversary celebrations.

Interest income also more than doubled to GH¢776,731, reflecting improved liquidity management and investment strategies.

Total expenditure increased by 32 per cent to GH¢17.33 million, largely due to investments in staff remuneration, professional development and examination delivery.

Employment-related costs rose by 27 per cent to GH¢7.71 million, following salary adjustments and bonus provisions.

Professional body activity expenses increased by 4 per cent to GH¢2.63 million, while expenditure on examination and student activities climbed 63 per cent, driven by Chartered Banker Executive Leadership (CBEL) programmes and examination administration costs.

Despite the higher operating expenses and the write-off of an irrecoverable investment, the Institute achieved an operational surplus of GH¢1.48 million, representing a 36 per cent increase over the previous year.

The members' fund also strengthened by 21 per cent 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.

With a new leadership team in place and strong financial fundamentals, CIB Ghana is expected to intensify efforts to promote banking professionalism, ethical standards and continuous learning across the financial sector.

The Institute also aims to deepen collaboration with regulators and financial institutions while equipping banking professionals with the knowledge and skills required to navigate an increasingly digital and competitive financial services landscape.