CalBank PLC Appoints New Board of Directors
CalBank PLC has announced the appointment of new board members with Daniel Nii Kwei-Kumah Sackey as the Chairman of the Board of Directors, effective 20th March 2025, following approval by the Bank of Ghana and endorsement by shareholders. This marks a significant milestone in the Bank’s strategic direction. Mr. Sackey succeeds Mr. Joe Mensah, who has served as the Chairman of the Board since 2019.
His appointment, alongside other distinguished board members, reflects CalBank’s renewed commitment to driving sustainable growth, profitability, and innovation within Ghana’s banking sector.
Profile of Daniel Nii Kwei-Kumah Sackey
Daniel Sackey is a highly accomplished banking executive with over 30 years of experience in strategic leadership, financial performance, and corporate governance. He has held key roles across multiple financial institutions, including Ecobank Ghana, Zimbabwe, and Rwanda, driving digital transformation, operational excellence, and regulatory compliance.
With extensive board experience across financial institutions and stock exchanges, Daniel has played a pivotal role in risk management, financial inclusion, and stakeholder engagement. He holds an MBA in International Banking and Finance from the University of Birmingham and a BSc in Accounting from the University of Ghana. His vast expertise in strategic planning, regulatory compliance, risk management, business development, and financial inclusion makes him an ideal leader to guide CalBank’s strategic direction, reinforcing its position as a dominant player in the banking industry, and supporting its long-term vision of becoming a digital bank, promote financial inclusion and economic development in Ghana.
Speaking on his appointment, Mr. Sackey expressed his gratitude and optimism about the future of CalBank. “It is an honor to lead CalBank’s Board at such a pivotal time. The Bank has demonstrated resilience and strategic focus in achieving remarkable financial recovery. Together with my fellow board members, we are committed to steering the Bank towards sustained profitability and innovation, ensuring value for shareholders and stakeholders alike”.
Strengthening the Board with Seasoned Experts
Alongside Mr. Sackey, new board members have been officially endorsed by shareholders, bringing a wealth of experience in finance, investment, and governance to CalBank:
- Johnson Delali Oware – Appointed as Executive Director and Deputy Managing Director, Johnson is an expert in corporate, commercial, and retail banking. His leadership spans across multi-country business growth, structured trade finance, and digital banking expansion.
- Kwadwo Brantuo Mpeani – A Chartered Accountant and former Ernst & Young (EY) Partner, with over 30 years of experience in auditing, taxation, and financial consulting. His strong background in financial management will enhance the Bank’s corporate governance framework.
- Yvonne Ofosu-Appiah – A highly respected investment professional with 17 years of experience in venture capital, private equity, and sustainability-focused financial strategies. As Co-founder of Sahara Impact Ventures, she specializes in long-term investments and corporate governance.
- Gerrit Muller – A seasoned investment professional with 21 years of experience in financial services, mergers & acquisitions, and private equity across Africa. As Senior Investment Director at Arise B.V., he has played a crucial role in shaping strategic financial investments in Ghana and beyond.
Speaking on the reconstitution of the board, Managing Director of CalBank, Mr. Carl Asem expressed optimism about the Bank’s prospects under the new leadership. He stated that, “the new appointments will reinforce the Bank’s strategic position in the Ghanaian market, helping it to create more value for its customers, employees, shareholders, investors and local communities through sustainable business practices”.
Strong Financial Performance and Future Outlook
The appointment of the new board members comes at a time when CalBank has demonstrated remarkable financial resilience. The Bank’s audited results for 2024 highlight a remarkable recovery, with Profit Before Tax surging to GHS 414.2 million, signaling a significant turnaround from previous losses. Net Fees & Commission Income grew by 55.7% to GHS 179.6 million, driven by increased digital banking adoption. Deposits rose by 29% to GHS 9.6 billion, reflecting heightened customer confidence and retail banking expansion. Additionally, loan recoveries reached GHS 792 million, reinforcing the Bank’s commitment to effective risk management and financial stability.
Commitment to Sustainable Growth and Innovation
Under its new leadership, CalBank is committed to driving digital transformation, financial inclusion, and robust risk management to ensure sustained profitability. The Board is dedicated to executing the Bank’s five-year strategic plan, which focuses on expanding retail and commercial banking, enhancing digital banking platforms, strengthening risk management frameworks, and building strategic partnerships to promote sustainable banking solutions.
The Future of CalBank
CalBank is poised for continued growth and profitability under its new leadership. With a strong emphasis on customer-centric banking, innovation, and operational efficiency, the Bank is set to strengthen its position as a leading financial institution in Ghana. Its experienced leadership team, combined with a strategic vision, ensures adaptability in an evolving financial landscape. Committed to excellence, corporate governance, and customer excellence , CalBank remains a trusted partner for businesses and individuals.
