The Board of Agricultural Development Bank PLC (ADB) has announced the appointment of Alhassan Yakubu-Tali as its new Managing Director effective December 1, 2022, following regulatory approval by the Bank of Ghana (BoG).
He assumes the position as successor to Dr. John Kofi Mensah, who retired on November 30, 2022, after five years of dedicated service.
Speaking on the appointment, the ADB Board Chairman, Daasebre Akuamoah Agyepong II, citing Mr. Yakubu-Tali’s pedigree as an investment banker with more than 20 years of varied experience as well as the success of his tenure as Deputy Managing Director, expressed optimism that the bank will experience further growth.
“On behalf of the Board, we wish to congratulate Mr. Yakubu-Tali on his appointment, and also assure him of our support. Having been the Deputy Managing Director for the past five years, we are optimistic he will lead the bank to higher heights,” he said.
On his part, the new ADB Managing Director expressed his appreciation to shareholders and the Board, saying: “I wish to thank all our shareholders and the Board of Directors for this opportunity to serve as Managing Director, and thank my immediate predecessor, Dr. John Kofi Mensah, for leading the team to position the bank better than it was in 2016”.
“I look forward to a more fruitful working relationship between the Board, Management and Staff to ensure we position our bank as the best bank in Agribusiness financing and the most customer-focused bank in the country,” he added.
The new Managing Director has been described as a result-oriented professional with exceptional skills in people management, developing new businesses, risk management and adaptability to new organisational culture.
As Deputy Managing Director and Chairman of the bank’s Strategy Implementation Committee, Mr. Yakubu-Tali takes on the role with first-hand knowledge of the bank’s trajectory. He holds a Business Administration and MBA (Marketing) from the City University, Bellevue, USA (Frankfurt Campus); and Diploma 1 & 2 (Business Administration) from West London College, London.
The bank’s Board Chair also extolled Dr. Mensah for turning the fortunes of the bank which had, prior to his appointment, endured a turbulent period.
The Board Chairman, Dasaabre Akuamoah Agyepong II, thanked Dr. Kofi Mensah for his contribution toward the growth of the bank. He noted that under his tutelage, the bank saw a significant transformation from a loss-making institution to a consistent profit-making bank.
He recalled Dr. Mensah’s strategic vision of refocusing the bank to its core mandate of agricultural financing with the aim of ensuring a significant portion of its loan portfolio was dedicated to the agricultural sector, and also increasing the number of branches of the bank from 78 in 2016 to 87 by the end of 2022.
“On behalf of the Board, Management and Staff, we wish to thank Dr. Kofi Mensah for his remarkable contribution toward the growth and development of ADB,” Daasebre Akuamoah Agyepong II stated.
Dr. Kofi Mensah will be fondly remembered for a number of initiatives he oversaw, including leading ADB to become the first in the country to establish the Security Operating Centre (SOC), the attestation and certification of the bank in a number of International Organisations for Standardisation (ISO) certificates, among others.
Taking his turn, the outgoing Managing Director thanked the Board, Management and Staff for their support during his tenure, which led to the stability and growth it witnessed over the period, and assured of his support in whatever capacity he can offer in the future.