Majority Shareholder of ADB has nominated Chartered Accountant and Former Deputy Minister of Communications, Edward Ato Sarpong as the new Managing Director of the bank.
This is what JOYBUSINESS has picked up from persons with knowledge of the bank’s operations.
Per the bank’s structure on its website:
Financial Investment Trust (Bank of Ghana) holds – 64.05 percent shares
Government of Ghana holds – 21.50 percent shares,
Ghana Amalgamated Trust PLC holds – 11.26 percent shares
Retail investors and ADB staff hold – 3.2 percent shares
Mr. Sarpong takes over from Alhassan Yakubu Tali, who announced his resignation effective February 5, 2025.
Mr. Tali occupied the position since December 1, 2022, having served as Deputy Managing Director of the bank from 2017.
A statement issued by the Board of ADB on February 6, 2025 announced that the Majority Shareholder of the bank has nominated a new Managing Director.
ADB successfully listed on the Ghana Stock Exchange (GSE) on December 20, 2016.
ABD Board Meeting and New Managing Director
The Board of the bank met last week to interview Mr. Edward Ato Sarpong and approved his nomination. Mr. Sarpong is expected to formally begin work on Monday February 10, 2025.
Profile of Mr. Edward Ato Sarpong
Mr. Sarpong served in several business positions over the years including Managing Director of Africaonline, Chief Operating Officer of K-Net from 2009 to 2011 . Mr. Sarpong had also served as the Deputy Minister of Communications under John Mahama in 2014 .
He is also a member of the Institute of Chartered Accountants Ghana, and an Alumnus of the University of Professional Studies, UPSA.
He also attended the University of Ghana Business School where he obtained Executive Masters Degree in Entrepreneurship. He is also an alumnus of the Manchester Business School of Leadership Development Programme.
Mr Sarpong also worked as a Business Consultant for Multimedia Group Limited, owners of Joy FM, Adom FM, Multi TV and others, as well as a Business Consultant and Trainer for Edge Capital Partners, his own firm, since 2011, and served as a business and leadership trainer and motivational speaker.
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