Minister for Finance, Dr. Cassiel Ato Forson, on Wednesday, July 9, inaugurated the new Board of Directors for the Agricultural Development Bank (ADB) and Board of Directors for Consolidated Bank Ghana Limited (CBG).

The sector minister highlighted the critical role of agriculture in national development, noting that no country can achieve sustainable growth without a vibrant and resilient agricultural sector.

He therefore tasked the new board chaired by Mr. Kenneth Kwamina Thompson "to remain focused and guided by their primary mandate—serving Ghana’s agricultural sector."

Mr. Edward Ato Sarpong has been appointed as the Managing Director.

Dr. Ato Forson also assured the new board and management of plans to recapitalize the Agricultural Development Bank in 2026.

This move, he explained, is aimed at strengthening ADB’s financial position to better support farmers, agribusinesses, and agricultural value chain initiatives.

The newly inaugurated board is chaired by Mr. Kenneth Kwamina Thompson, with Mr. Edward Ato Sarpong serving as Managing Director.

Other members of the board include Hon. Andrew Dari Chiwitey, Mr. Siisi Essuman-Ocran, Hon. Dr. E. Prince Arhin, Hon. Misbahu Mahama Adams, Wing Commander Samuel J.A. Allotey, Mr. Courage Akanwunge Asabagna and Mr. Abdul Nasir M. Saani.

To the Consolidated Bank Ghana Limited (CBG) Board of Directors, the Finance Minister issued a firm warning against the era of excessive salaries and board allowances within State-Owned Enterprises (SOEs). He stressed that such practices would not be tolerated under the current administration.

"It is equally important that this board safeguards taxpayers’ money, as you have been entrusted with a crucial national asset,” Dr Ato Forson charged.

He assured the board of the government’s commitment to recapitalize CBG in the coming year. This comes after approximately GH₵30 billion was spent to purportedly salvage and restore confidence in the financial sector.

Newly appointed Board Chairman, Mr. Ernest Mawuli Agbesi, commended the government’s resolve to recapitalize the bank and pledged that the board would work diligently to deliver value to both the government and the Ghanaian people.

The newly inaugurated CBG Board also includes Dr. Naomi Wolali Kwetey — Managing Director, Ms. Irene Ackuaku, Mr. David Adom, Mr. Michael Kwasi Anyamesem, Mr. Stephen Kporzih, Dr. Sa-ad Iddrisu, Mrs. Immaculate Kawe Kanlisi and Mr. John Alexander Ackon.