Meet the Two Retired and Retiring MDs at the Center of NIB-ADB Controversial Merger

MyNewsGh

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The Minority in Parliament has been up in arms against the government over the proposed merger of the National Investment Bank (NIB) and the Agriculture Development Bank (ADB). 

Following the completion of the financial sector reforms, all the banks operating in the country, successfully recapitalised to GH¢400 million with the exception of NIB who are yet to do so.

The NIB, together with four other banks namely ADB Bank, OminiBSIC, UMB Bank and Prudential Bank were given government guarantee through the Ghana Amalgamated Trust (GAT), which was a special purpose vehicle set to help these five banks recapitalise.

MyNewsGh.com brings you the backgrounds of the two retired and retiring MDs running the two banks.

Mr. Sarpong was appointed Managing Director of the NIB in May 2019 and has since passed the mandatory retirement age. The minority in parliament is demanding his removal on the grounds of retirement. 

Prior to his appointment Mr. Sarpong was a Consultant with a private consultancy firm.

His CV released by NIB upon his appointment indicate he has 25 years of financial services sector experience in Ghana and Canada. He worked with GCB Bank Ltd. from 2008 to 2017 and served in various capacities including, Acting Managing Director, Deputy Managing Director, Chief Transformation Officer and Chief Operating Officer.

Prior to that he worked with various organisations in Canada. He served as Policy Advisor at the Ontario Ministry of Agriculture and Food, as well as the Ontario Ministry of Economic Development and Trade from 1990 to 1995. In 1996, he joined the Canadian Imperial Bank of Commerce (CIBC) holding senior positions in Credit Risk Management, and as Director of Lending Products.

In 2005, Mr. Sarpong joined General Electric Corporation’s Consumer Lending Business, (GE Money) in Canada. As a Senior Manager at General Electric, he served as Risk Leader for three business Units – Credit Cards, Risk Infrastructure and Fraud and Mortgages.

Mr. Sarpong holds a bachelor’s degree from the Kwame Nkrumah University of Science and Technology (KNUST), MSc. from the University of Guelph, Ontario Canada, Diploma in Management, McGill University, Quebec, Canada, and an MBA from the Wilfrid Laurier University.

ADB MD

ADB is led by 59 year old Alhassan Yakubu-Tali who was appointed Managing Director on 1st December 2022.

His record from the bank shows he has over 20 years of international experience and had served as the Deputy Managing Director of the Bank for the past 5 years. 

He had oversight responsibility over the Bank’s Business Banking, Agribusiness and Operations Divisions as well as the 87 retail outlets of the Bank. He was principally in charge of the Bank’s Business units and was responsible for the operational performance, driving and implementing a strict performance culture in the Bank as well as providing support to the Managing Director to create an environment that promotes staff commitment to the organisational vision, mission and strategy.

Mr. Yakubu-Tali holds a Business Administration and MBA (Marketing) from the City University, Bellevue, USA (Frankfurt Campus); Diploma 1 & 2 (Business Administration) from West London College, London.

He served on the Boards of Agridev Limited, the Forestry Plantation Development Fund Management and the Cotton Development Authority.

A married man, Mr. Yakubu-Tali is a polyglot and is fluent in German, English, Hausa and Dagbani.

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Ghananewshome

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