Shareholders of Republic Bank Ghana PLC, on Thursday, April 22, 2021, re-elected current members of the bank’s Board of Directors to continue serving as Directors of the bank for the year 2021.
The re-election of the Directors which took place at the bank’s 2020 Annual General Meeting (AGM), is mandated by regulations 64 of the Company’s Act 2019 (Act 992) and pursuant to section 325 D of the Company’s Act 2019 (Act 992).
Prior to the re-election of the bank’s Directors, a resolution for the acceptance of the bank’s 2020 Audited Financial Statement was moved by the Board Chairman, Charles William Zwennes, and subsequently adopted for use by the shareholders.
Republic Bank for the year 2020 recorded a profit of Ghs 51.6 million and increased its total assets value from Ghs 3.3 billion in 2019 to Ghs 3.6 billion in 2020.
Shareholders’ equity for the period also increased from Ghs 556 million in 2019 to Ghs 608 million in 2020.
Directors re-elected by shareholders at the 2020 AGM are;
Charles William Zwennes (Board Chairman)
Mr Charles William Zwennes was re-elected as the Chairman of the Board of Directors by the shareholders via voting. Mr Zwennes polled 15 votes out of the total votes cast of 15, with 0 zero votes against his re-election as the Republic Bank’s Board Chairman.
Mr Zwennes is a Barrister-at-Law of England & Wales and a Barrister & Solicitor of the Superior Courts of Ghana. He is currently a partner at Gaise Zwennes Hughes & Co., Private Practitioners. Prior to joining Gaise Zwennes, Hughes & Co, he worked at the Chambers of Christian Bevington, Q.C, London and Messrs. Arnold Fooks Chadwick, Solicitors, London.
Mr. David Addo-Ashong
Mr. David Addo-Ashong was also re-elected as a Director of the bank polling 17 votes with 0 votes against his re-election.
Mr Addo-Ashong is a Partner at Ashong Benjamin & Associates. He previously served as a Partner at Ankamah and Associates and also a Deputy Managing Director at First Atlantic Merchant Bank Limited.
Over the years he has held several key positions at the Office of the Ombudsman, Merchant Bank (Ghana) Limited (now UMB) and Home Finance Company Limited (now Republic Bank Ghana). Mr. Addo-Ashong is currently a Director at Afina Asset Management Limited, Econet Ghana Limited, AGM Petroleum Ghana Limited and Republic Investment Services Limited.
Ebenezer Tetteh Tagoe
Mr Ebenezer Tetteh Tagoe was re-elected by shareholders with 17 votes and 0 votes against his re-election as a Director of the bank.
Mr Tagoe is the Board Chairman of the State Enterprises Audit Corporation, a corporation established to audit state organizations. He is also a Board Member of Adisadel College and Council Member of Accra Ridge Church. He has immense experience in Accounting and Administration and has served at various management positions with the United Nations World Food Programme, Peat Marwick Mitchell (London) and Mobil Oil Ghana Ltd.
Paul King Aryene
Mr. Paul King Aryene once again, was re-elected to continue to serve as a Director of the bank. He polled 17 votes with 0 votes against his re-election.
Mr Aryene served as the Ambassador to the Federal Republic of Germany with concurrent accreditation to Estonia, Latvia and Lithuania.
He is a diplomat of high repute and has served in various positions at both the Ministry of Foreign Affairs and its overseas Missions.
Mr. Aryene holds a Degree from the University of Ghana, Diploma in Diplomacy from the University of Nairobi and a Diploma in Investment Analysis from the Research Institute of Investment Analyses, Malaysia.
