FINANCE MINISTER INAUGURATES NEW BOARD OF AGRICULTURAL DEVELOPMENT BANK
The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a new Board of Directors for the Agricultural Development Bank (ADB), with a call on the members to stay true to the bank’s core mandate of championing Ghana’s agricultural transformation.
At a brief ceremony to formally induct the board, the Minister underscored the critical role of agriculture in national development, noting that no country can achieve sustainable growth without a vibrant and resilient agricultural sector.
“I have therefore tasked the new board to remain focused and guided by their primary mandate — serving Ghana’s agricultural sector,” he stated.
In a significant announcement, Dr. Ato Forson assured the new board and management of plans to recapitalize the Agricultural Development Bank in 2026.
This move, he explained, is aimed at strengthening ADB’s financial position to better support farmers, agribusinesses, and agricultural value chain initiatives.
The newly inaugurated board is chaired by Mr. Kenneth Kwamina Thompson, with Mr. Edward Ato Sarpong serving as Managing Director.
Other distinguished members include:
- Hon. Andrew Dari Chiwitey
- Mr. Siisi Essuman-Ocran
- Hon. Dr. E. Prince Arhin
- Hon. Misbahu Mahama Adams
- Wing Commander Samuel J.A. Allotey
- Mr. Courage Akanwunge Asabagna
In accepting his new role, Thompson remarked, “I am deeply honored to lead the ADB during this pivotal moment. We must continuously adapt to address climate change, inclusive growth, and digital transformation. My mission is to harness ADB’s resources and partnerships to empower our developing member countries.”
Chair of the ADB Board of Governors, Fabio Panetta, praised Thompson’s leadership. “Mr. Thompson's deep understanding of development finance and multilateral collaboration positions him perfectly to guide ADB through new global and regional challenges.”
Under his guidance, ADB is anticipated to intensify efforts in:
- Climate financing for disaster-prone and vulnerable nations.
- Digital infrastructure to support post-pandemic economic recovery.
- Inclusive policy frameworks to ensure equitable development in marginalized communities.
Thompson’s appointment continues ADB’s tradition of selecting leaders with proven multilateral credentials and broad regional expertise.
About ADB: Founded in 1966 and headquartered in Manila, the ADB is owned by 70 member countries—51 from the Asia–Pacific region. It provides loans, grants, equity investments, and technical assistance to foster economic and social development in the region.
What Stakeholders Are Saying
“Ken’s appointment comes at the right time. His knowledge of Ghana’s financial terrain is unmatched. We expect a renewed direction for the bank.”
— Dr. John Kofi Mensah, Former MD, ADB
“This is a great win for Ghana’s agricultural sector.”
— Ghana National Farmers Association