Ghana: SIGA commits to enhancing CBG’s profitability and efficiency

CONSOLIDATED Bank Ghana LTD (CBG) has been commended by the State Interests and Governance Authority (SIGA) for demonstrating commendable compliance and consistently delivering positive returns.

Acting Director-General of SIGA, John Boadu, gave the commendation when he paid a working visit to CBG as part of his familiarization visit to some state agencies.

He assured CBG of SIGA’s dedication to supporting the bank in maximizing profits and operational efficiency. SIGA expressed readiness to collaborate closely with CBG to help achieve its goals as a leading indigenous financial institution.

The SIGA boss further encouraged CBG to share its success story with the Ghanaian public to underscore its substantial contributions to the country.

Managing Director of CBG, Daniel Addo, expressed gratitude to Mr Boadu and his team for the visit highlighting the significance of close cooperation between regulatory bodies and state institutions to effectively address emerging challenges while maintaining cordiality.

SIGA was founded to facilitate performance management within State-Owned Enterprises (SOEs) and other designated entities, aligning with government policies. Its objective is to ensure these entities operate efficiently, effectively, and profitably, thereby advancing Ghana’s socio-economic development.

CBG, wholly owned by the Government of Ghana, functions as a universal bank, boasting 114 branches across 13 regions of Ghana. It benefits from robust government backing, a substantial SME client base, and a diverse pool of talented individuals.