• Home
  • Appointments
  • Dr Donkor re-appointed as president of ECOWAS Bank for Investment and Development
Image

Dr Donkor re-appointed as president of ECOWAS Bank for Investment and Development

The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously re-appointed Dr George Agyekum Nana Donkor as President of the Bank for the second term of five years beginning February 1, 2024.

The appointment took place during the just-ended 21st Ordinary Session of the Board of Governors held on April 5, 2023.

In taking the decision, the Board of Governors took into consideration the progress made by the Bank since Dr Donkor assumed office in January 2020.

Notable achievements under his leadership include the reduction of the Bank’s non-performing loans (NPL) ratio from over 8% to 4.28%, $77.5 million recovered in respect of capital arrears, 36.8% balance sheet growth in 2022, two consecutive widely successful debenture issuances on the UEMOA market and the enhanced quality of the Bank’s portfolio.

The Board also expressed its satisfaction with the improvement in the Bank’s credit rating, currently B2 with a stable outlook by both Moody’s and Fitch Rating Agencies, which is the best-ever rating in the Bank’s history and a reflection of the renewed investor confidence in the Bank, in spite of the daunting global economic context caused by Covid-19 pandemic and the Ukraine-Russia crisis.

In his remarks, the outgoing chairman of the Board of Governors, Deputy Prime Minister and Minister for Finance, Business Development and Digital Economy of the Republic of Cabo Verde, Dr Olavo Avelino Garcia Correia, stated that the Board of Governors was of the firm belief that Dr Donkor was the right person to take the Bank to the next level.

The Bank’s Board of Directors which recommended the renewal of Dr Donkor’s term of office to the Board of Governors described him as a man of impeccable professional credentials and a pragmatic leader who had implemented several commendable initiatives at the helm of the Bank which has yielded positive outcomes.

In his response, Dr Donkor pledged to continue working with the Ministers and the Board to forge ahead with the objective of establishing EBID as the leading financial institution in the region, while supporting Member States to ensure socio-economic development.

Releated Posts

Nigeria: Moghalu appointed Academy of International Affairs fellow

Professor Kingsley Moghalu, President of the Institute for Governance and Economic Transformation (IGET) and CEO of Sogato Strategies…

ByByInstinctBusinessMar 28, 2024

Kenya: DTB boosts dividend amid Sh6.8bn profit growth

Diamond Trust Bank (DTB) Group has raised its dividend payout to a record of Sh6 per share for…

ByByInstinctBusinessMar 28, 2024

Nigeria: Access Corporation Reports Record-Breaking N612.4 Billion Profit

Access Corporation, Nigeria’s leading finance holding company, has announced a remarkable achievement with a profit after tax of…

ByByInstinctBusinessMar 28, 2024

Ghana: Herbert Krapa named ECG’s new board chairman

President Nana Akufo-Addo has appointed Deputy Energy Minister, Herbert Krapa, as the new Board Chair of the Electricity…

ByByInstinctBusinessMar 27, 2024