President commends FBNBank for contribution to economy

President Nana Addo Dankwa Akufo-Addo has acknowledged the efforts of FBNBank Ghana towards the growth of the economy.

In an address read on his behalf by a Deputy Minister of Finance, Dr. John Kumah, at the FBNBank@25 Gala Dinner, he said “I have followed the growth of FBNBank over the years and this celebration should be an exciting moment for all those who have been involved in bringing the bank to its present state.

“You have been an integral part of the growth of the Ghanaian economy and I say “Ayekoo” to the management and staff of the bank for this remarkable feat,” he stated.

The President also urged the bank to develop easy accessible products for young entrepreneurs in order to solve the unemployment situation in the country.

“As the bank celebrates 25 years of existence, I urge you to focus your attention also on the design of financial products for the Ghanaian youth engaged in entrepreneurship.

We are told some 70 per cent of our population is aged 35 years or younger. This youth batch provides immense opportunities for rapid development,” he stated.

He said fortunately for the country, the Free Senior High School policy and Technical and Vocational Education Training (TVET) programmes, have increased access to education.

“It is time to turn our demography and investment in education into a powerful economic driving force rather than a potential source of social and political unrest.

“We are creating conditions for entrepreneurs to thrive and for the private sector to grow and expand and create jobs, particularly for the youth,” he said.

Lending rates

The President also used the opportunity to re-emphasise calls for banks to take another look at the high interest rates regime.

“We need to work together to find an enduring solution to this problem. Government is working hard through the introduction of new policies to enhance the credit delivery system’, he said.

FBNBank Gala

The FBNBank@25 Gala Dinner provided an opportunity for the Bank to engage its stakeholders and to recognise the efforts and contribution of customers, clients and staff who have been with the Bank since its inception 25 years ago.

Present were customers, clients and other stakeholders of the Bank including a delegation from FBNBank’s parent company, First Bank of Nigeria, led by the Chief Executive Officer of FirstBank and Subsidiaries, Dr. Adesola Adeduntan.

Also present were the Nigerian High Commissioner, Admiral Ibok Ekwe Ibas (rtd), the Second Deputy Governor of Bank of Ghana, Mrs. Elsie Addo Awadzi, the Chief Executive Officer of the Ghana Investment Promotion Centre, Yoofi Grant, and the Head of Banking Supervision Department of Bank of Ghana, Osei Gyasi.

Others include the President of the Ghana Association of Bankers and Managing Director of Standard Chartered Bank, Mrs. Mansa Nettey, Chief Executive of the Ghana Association of Bankers, Mr. John Awuah, and several Managing Directors of banks.