Accra: The Chartered Institute of Bankers (CIB) Ghana has elected Dr Ellen Ohene-Afoakwa, Fellow of the Chartered Institute of Bankers (FCIB), as its President for a two-year term at the Institute's sixth Annual General Meeting (AGM) in Accra. Dr Ohene-Afoakwa, who serves as Managing Executive for Corporate and Investment Banking at Absa Bank Ghana Ltd and is a former Governing Council member of the Institute, takes over from the outgoing leadership with a focus on enhancing professionalism and capacity development in Ghana's banking sector.
According to Ghana News Agency, Dr Ohene-Afoakwa will be assisted by Mr Woelinam Dogbe, FCIB, Deputy Director-General of Investment and Development at the Social Security and National Insurance Trust (SSNIT), who has been elected Vice President. The newly elected Governing Council also includes Mrs Rosemond Amoo, FCIB, a Consultant in Human Resource Management, Customer Service Relations and Dispute Resolution Support at Horizon Insurance Brokers Limited, Mrs Doris Yaa Aggrey Ahiati, FCIB, CEO of Crescendo Consult Limited, and Mr Daniel Arhin, ACIB, Manager, Lending at Standard Bank Offshore, Isle of Man, United Kingdom.
In her acceptance speech, Dr Ohene-Afoakwa highlighted education, skills development, and staff welfare as the three key pillars of her administration. She emphasized her dedication to the Institute's mission of promoting banking education and regulating the profession through professionalism, ethical conduct, continuous learning, and innovation. Dr Ohene-Afoakwa also expressed her commitment to collaborating with stakeholders across the financial sector to build institutional capacity, enhance the Institute's visibility, provide increased value for members, and mentor the next generation of banking professionals. She affirmed the Institute's continued role in shaping Ghana's financial sector through advocacy and professional excellence.
The election coincided with the presentation and approval of the Institute's 2025 financial statements, which showcased robust operational and financial performance. The Institute reported total revenue of GHS18.82 million in 2025, marking a 33 per cent increase over the previous year. The net operational surplus rose by 36 per cent to GHS1.48 million. Non-subscription income contributed GHS13.77 million, accounting for 73 per cent of total revenue, while subscription income was GHS5.05 million. Examination and student activities were the strongest revenue sources, growing by 174 per cent to GHS5.22 million. Commercial training income increased by 86 per cent, and income from the annual Bankers Week celebration rose by 158 per cent. Rental income from the Institute's renovated auditorium increased by 40 per cent to GHS1.2 million, and interest income more than doubled to GHS776,731 due to improved liquidity management.
Despite a 32 per cent increase in total expenditure to GHS17.33 million, primarily due to staff costs, professional development activities, and examination delivery expenses, the Institute maintained a strong financial position. The members' fund grew by 21 per cent to GHS8.52 million, even after an adjustment for the write-off of an irrecoverable investment, highlighting the Institute's financial resilience and sustainable growth.