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Minister of Public Enterprises visits Consolidated Bank Ghana

BY: Graphic Business
Joseph Cudjoe (2nd from left) with: Daniel Wilson Addo (left), and Nana Ama Poku (2nd from right)-Deputy Managing Director - Corporate Resources.

The Minister of Public Enterprises, Joseph Cudjoe, has paid a working visit to Consolidated Bank Ghana Ltd (CBG) as part of his familiarisation tour.

In his introductory remarks, the minister indicated that his visit was to learn first-hand the operations of the bank.

He said the President of the Republic had charged him with oversight of the State Interest and Governance Authority (SIGA) to ensure profitability and efficiency of all entities that the government had interest in, which included CBG Bank.

“My visit today is to familiarise myself with the activities of the bank and offer my support and advice where necessary,” he stated.

The minister commended the Management of CBG for a good work done and indicated his willingness to provide the necessary assistance when needed.

He said state enterprises contributed significantly to the country's Gross Domestic Product (GDP) and have a significant presence in the economy being avenues for job creation.

He said his visit to various public enterprises enables him to bring to the fore issues inherent in same for the attention of the President’s Cabinet and the Economic Management Team.

He also pointed out that the government was developing a state ownership policy for the deployment of portfolio management to ensure all state entities become efficient and effective.

Providing secure banking

In a brief presentation, the Managing Director of CBG, Daniel Wilson Addo, said the bank currently had 114 branches across 13 regions and was the second largest bank in terms of branch network.

He said the mission of the bank was to provide simple, secure and differentiated banking experience to customers.

“We want customers' journey to be simple and secure because of our background and to be different in all we do.”

“We have automated our loan origination which allows us to process and disburse loans in two days,” he stated.

According to the Managing Director, CBG was number five in secondary Bond Trading and was striving to become a Bond Market Specialist in the near future.

Touching on people and culture, he indicated that CBG organised yearly surveys to gather staff feedback to help build a sustainable culture among staff.

“Training is a key focus area in the bank, of which an academy has been established to train and build the capacity of our staff,” he said.