By Ernest Bako WUBONTO
The Chartered Institute of Bankers (CIB) Ghana has elected Dr. Ellen Ohene-Afoakwa, Fellow of the Chartered Institute of Bankers (FCIB), as its new president for a two-year tenure.
The election took place during the institute’s sixth annual general meeting (AGM) held in Accra on Thursday, 25 June 2026.
Dr. Ohene-Afoakwa, who currently serves as the Managing Executive for Corporate and Investment Banking at Absa Bank Ghana Ltd, previously served as a governing council member of the CIB.
Assisting her as Vice President is Woelinam Dogbe, FCIB, the Deputy Director-General of Investment and Development at the Social Security and National Insurance Trust (SSNIT).
The newly elected members of the governing council tasked with steering the institute alongside the president and vice include: Rosemond Amoo, FCIB, Consultant (HRM, Customer Service Relations & Dispute Resolution Support, Horizon Insurance Brokers Ltd.; Doris Yaa Aggrey Ahiati, FCIB, CEO, Crescendo Consult Ltd, Ghana; and Daniel Arhin, ACIB, Manager, Lending, Standard Bank Offshore, Isle of Man, UK.
In her acceptance address, Dr. Ohene-Afoakwa emphasised that education, skills development, and staff welfare will be the priority pillars for the incoming council.
“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 said.
She also expressed a strong commitment to collaborating with all industry stakeholders to build capacity, boost institutional visibility, enhance member value and mentor the next generation of Ghanaian banking professionals.
Furthermore, she pledged to maintain CIB Ghana’s influential voice in shaping the future of the nation’s financial sector.
Financial Review
The new leadership takes the helm as CIB Ghana posts a stellar 33 percent revenue surge to GH₵18.82 million, driven by strong examination registrations and a 36 percent jump in net surplus.
The AGM approved the 2025 accounts, which showed that non-subscription income contributed GH₵13.77 million, or 73 percent of total revenue, while subscription income stood at GH₵5.05 million.
Examination and student activities were the standout performers, growing 174 percent to GH₵5.22 million.
Commercial training income rose 86 percent and ‘Bankers Week’ commemoration income surged 158 percent to GH₵546,518, offsetting a 13 percent overall decline in professional body activities caused by a reallocation of CBEL fees.
Rental income from the institute’s strategically renovated auditorium, ahead of its 60th anniversary, grew 40 percent to GH₵1.2 million, while interest income doubled to GH₵776,731 on the back of improved liquidity management.
Total expenses for the year rose 32 percent to GH₵17.33 million as employment-related costs grew 27 percent to GH₵7.71 million following a salary adjustment exercise and staff bonus provisions.
Professional body activities spending edged up four percent to GH₵2.63 million, mainly due to ‘Bankers Week’ and commercial training costs, while exam and student activity costs rose 63 percent, driven by Chartered Banker for Executive Leadership (CBEL) and examination delivery costs.
Despite these investments and the write-off of an irrecoverable investment, the institute delivered an operational surplus of GH₵1.48 million, a 36 percent increase over 2024.
The members’ fund strengthened by 21 percent to GH₵8.52 million, after accounting for a GH₵304,195 adjustment related to the Gold Coast Securities investment write-off.
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