News Guide Africa

Tag: Agricultural Development Bank (ADB)

  • Akuapem Rural Bank disburses almost half of credit to women …ADB MD commends the financial inclusion drive 

    Dr Ato Sarpong, ADB MD

     

    The Managing Director of the Agricultural Development Bank (ADB) PLC, Mr. Edward Ato Sarpong, has commended Akuapem Rural Bank PLC for its strong focus on empowering women through credit financing.

    This, he described as a key driver of financial inclusion and sustainable banking.

    In 2024 alone, the Rural Bank advanced GH¢60.33 million, representing 49.93 percent of total loan disbursements, to 5,267 women. This marked a 23 percent increase over the previous year, with an impressively low non-performing loan ratio of 0.13 percent. While speaking as the Guest of Honour at the Bank’s 43rd Annual General Meeting (AGM), Mr. Sarpong praised the institution’s Credit with Education (CwE) programme, which has consistently directed about 50 percent of annual loan disbursements to women.

    “This achievement is not only commendable but also aligns with the Sustainable Development Goal of poverty alleviation, given its direct impact on households and communities”, he mentioned.

    Mr. Sarpong encouraged the Bank to deepen its investment in the CwE programme while also strengthening risk management systems and incorporating technology to expand outreach and enhance financial inclusion.

    He further applauded the overall performance of the Rural Bank, attributing it to strong governance, quality leadership, and the support of shareholders. “The quality of your Board is evident in the results achieved, and I urge shareholders to continue backing them to ensure further growth,” he noted.

    The bank’s post-tax profit increased by 186% from GHS1.35million in 2023 to GHS3.85million in 2024 and total assets growing from GHS156million in 2023 to GHS208million in 2024.

    The Board Chairman of the bank, Dr. Ernest Obuobisa-Darko noted deposit growth of 30.77% (from 137.1million in 2023 to 179.3million in 2024), loan growth of 29.01% and investment growth of 33.15% which all contributed immensely to the overall growth in profitability and assets.

    He expressed gratitude to Management and staff for their hard work in achieving growth in all of its key financial indicators in 2024.

    The 43rd AGM brought together shareholders, board members, management, and invited guests.

     

  • ADB MD pushes for Non-interest banking and finance

    ADB MD pushes for Non-interest banking and finance

    The Managing Director of the Agricultural Development Bank (ADB) PLC, Edward Ato Sarpong, has expressed support for the Bank of Ghana’s (BOG) non-interest banking and finance initiative, describing it as a transformative model that can empower businesses and stimulate Ghana’s economic growth.

    Mr. Sarpong noted that non-interest banking and finance offers more than a faith-based alternative to conventional banking. In his view, it is a business proposition that expands access to credit, unlocks new opportunities for enterprises, and strengthens the resilience of the economy.
    “Non-interest financing is about creating choices and ensuring inclusion,” he said.

    “It gives small and medium enterprises, the real drivers of our economy, the flexibility to grow without being constrained by traditional lending structures. This is how we create sustainable growth and open new doors for entrepreneurs,” Mr. Sarpong added.

    The ADB MD explained that non-interest products would not only provide businesses with alternative channels to raise capital but also offer individuals, especially those excluded from mainstream banking, a genuine pathway into the financial system.

    He stressed that ADB is prepared to play a leading role in the roll-out of non-interest banking and financial services, leveraging its7 strong base in Retail Banking, MSME & Commercial Banking, Agribusiness, as well as its unwavering commitment to inclusive growth and development.

    “As a Bank mandated to support national development, we are determined to lead with solutions that meet the diverse needs of Ghanaians. Non-interest banking and finance is one of the innovative tools that will help us deliver on this mandate,” Mr. Sarpong assured.
    He reaffirmed ADB’s resolve to continually innovate under its new “Beyond Banking…”u corporate positioning, noting that the Bank will remain focused on solutions that not only deliver financial services but also build prosperity across communities.

    The Bank of Ghana is engaging stakeholders towards putting in place a regulatory framework for the operationalization of non-interest banking and finance in Ghana. It is a key initiative aimed at expanding financial inclusion and creating more opportunities for wealth creation.

    A business model with huge potential to serve both faith-based communities and the broader economy.

  • ADB MSMEs team storms Cape Coast on educational drive  

     

    By Adnan Adams

     

    The Agricultural Development Bank’s (ADB) senior officials stormed Cape Coast on an educational drive to increase its clientele base among the Micro Small and Medium-sized Enterprises (MSMEs) segment.

     

    The outreach team led by the Head of Operations (Coordinator) in Charge of MSMEs at ADB, Joseph M. Abakah, enlightened many patrons of this year’s Central Expo ongoing at Cape Coast.

     

    Among some relevant information on initiatives and policies of the Bank shared with the MSMEs business financing opportunities, management training and development and marketing linkages.

     

    Mr Abakah shared to the target market that, the bank has introduced measures to enhance credit access for MSMEs, including increased credit guarantee cover and customized financial products like credit cards for micro-enterprises.

     

    In terms of the training opportunities, he explained that, “Programs like the Entrepreneurship Development Programme (EDP) provide essential skills and knowledge for prospective entrepreneurs.”

  • University of Ghana, ADB explore strategic collaboration

    University of Ghana, ADB explore strategic collaboration

    The Managing Director of ADB, Edward Ato Sarpong, together with his management team, has paid a courtesy call on the Vice-Chancellor of the University of Ghana, Prof Nana Aba Appiah Amfo, to explore areas of strategic collaboration aimed at supporting the university’s development agenda.

    During the high-level meeting, both parties engaged in fruitful discussions on several key initiatives, including the University’s flagship “One Student, One Laptop” programme, the Hotspot Comfort Zone Project, and enhanced support for the University’s Agricultural Research Centres.

    The courtesy visit highlighted a shared commitment to fostering innovation, academic excellence, and student empowerment. Mr. Sarpong reaffirmed his outfit’s readiness to partner with the University of Ghana on sustainable, forward-looking initiatives that contribute to national development.

    “We are excited about the possibilities of this partnership,” he said. “By working together, we can create more impactful solutions to support students, faculty, and research across multiple disciplines.”

    Vice-Chancellor Prof Amfo expressed appreciation for the visit and emphasised the importance of strong collaborations between academia and industry.

    She noted that such partnerships are critical to enhancing the learning environment and equipping students with the tools they need to succeed in a competitive global landscape.

    Both parties expressed optimism about the road ahead and committed to deepening ties to drive innovation, capacity building, and long-term growth.

     

  • Gov’t to recapitalise ADB by 2026 to support agricultural revolution agenda

    Gov’t to recapitalise ADB by 2026 to support agricultural revolution agenda

    The Government of Ghana has set 2026 to recapitalize the Agricultural Development Bank (ADB) in effort to strengthen the bank’s capacity to finance the agricultural sector.

    The planned capital injection is expected to enhance ADB’s ability to support farmers, agribusinesses, and players across the agricultural value chain. This is to align the bank’s operation with the government’s broader push to reposition agriculture as a cornerstone of economic transformation through targeted investment and structural reforms.

    “No country develops without sustained agricultural development. I have therefore tasked the new board to remain focused and guided by their primary mandate serving Ghana’s agricultural sector. I want to assure the board and management that I will capitalize ADB next year,” Finance Minister, Dr. Cassiel Ato Forson, wrote in a Facebook post.

    This was after Dr. Ato Forson inaugurated a newly constituted nine-member Board of Directors for ADB, which is now chaired by Kenneth Kwamina Thompson, former CEO of Dalex Finance.

    The nine-member board includes Edward Ato Sarpong as Managing Director, with members Andrew Dari Chiwitey, Siisi Essuman-Ocran, Dr. E. Prince Arhin, Misbahu Mahama Adams, Wing Commander Samuel J.A. Allotey, Courage Akanwunge Asabagna, and Abdul Nasir M. Saani.

    The bank’s leadership overhaul comes at a time when stakeholders have called for a renewed commitment to ADB’s founding mandate.

    Established as a specialized institution to finance agriculture, the bank has faced sustained pressure to realign its operations with national food security priorities and support for rural economic growth.

    The new board is expected to provide strategic direction as the bank expands its role in driving agro-industrialization, import substitution, and inclusive growth.

  • From Classroom to Banking Hall: The Journey of Joseph M. Abakah

    By Adnan Adams Mohammed

    As he assumes a new role at Agricultural Development Bank (ADB) as Coordinator (Head of Operations) in Charge of MSMEs Banking, Joseph Mensah Abakah’s story is a testament to the power of education and determination.

    From his early days as classroom teacher in Junior Secondary School to his current role in the banking industry, Mr Abakah has demonstrated a commitment to learning and professional growth.

    Early Education

    Abakah’s educational journey began at University Junior Secondary School from 1992 to 1994. He then proceeded to Adisadel College for his secondary education, where he developed a strong foundation in business accounting from 1995 to 1997.

    Tertiary Education

    Abakah pursued higher education at the University of Cape Coast, College of Distance Education (CODE) where he earned a Diploma in Basic Education from 2013 to 2015 and later obtained a Post-Diploma (Bachelor’s Degree) in Psychological Foundation of Education from 2015 to 2017.

    Professional Career Opportunities

    After completing his education, Abakah worked as a professional teacher from 2005 to 2011. He then transitioned to the Youth Employment Agency, where he served as the Municipal Director for the Awutu Senya East Municipal Assembly.

    Current Role

    Abakah’s current role as the Coordinator in Charge of MSMEs Banking at Agricultural Development Bank (ADB) PLC allows him to leverage his skills and experience in business accounting and human resources management to support micro, small, and medium-sized enterprises (MSMEs).

    Future Plans

    Abakah is set to start his MA in Human Resources Management at the University of Cape Coast in the 2025/2026 sandwich session. This further demonstrates his commitment to continuous learning and professional development.

    Joseph Mensah Abakah’s journey from the classroom to the banking hall is an inspiring example of how education and determination can lead to success. His story highlights the importance of lifelong learning and the value of applying theoretical knowledge to real-world problems. As he continues to grow in his career, Abakah’s experiences and insights will undoubtedly benefit the MSMEs and the banking industry as a whole.