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As part of its ongoing innovation and consolidation drive in Ghana, Access Bank Ghana has appointed Kris Ifeanyi Njoku as its new Managing Director, effective June 28, 2018.
Access Bank Ghana is a subsidiary of Access Bank Plc, which ranks among the top three banks in Nigeria and top 20 in Africa by assets and capital.
Already, the regulating Bank of Ghana (BoG) had endorsed his appointment with a ‘no objection’ letter sent to the bank ahead of the announcement.
Accordingly, Njoku takes over from Dolapo Ogundimu who has managed the Access Bank since 2012.
Business Hilighst gathered that until his appointment, Mr. Njoku was the Executive Director responsible for Business Development at Access Bank Ghana.
Coming with an over two decades of diversified banking experience spanning across various markets in Africa and the UK, Njoku has built a high pedigree as an astute banking wizkid.
Prior to joining Access Bank Ghana, Mr. Njoku worked as the Country Managing Director of Access Bank DR Congo from 2014 to 2017 and is credited with making the bank profitable while instilling the overall corporate and strategic goals of the Access Bank Group.
Additional details on him showed that the new MD is a fellow of the British Chevening Scholarship Programme of the British Government.
In his new role, Mr. Njoku will lead the bank to execute its new five-year strategic objective and ensure the bank’s growth across all its operations in Ghana.
Besides, analysts say he may not have much stress in running the bank in Ghana as Access Bank is among five leading Tier 1 bank both in Ghana and Nigeria.
Business Hilights Ghana Bureau chief recalls that Access Bank Ghana is among foreign financial institutions that had long exceeded the new capital base mark, introduced by the BoG in the ongoing recapitalization of banks in Ghana.
It was also gathered that out of the strong indications that local banks may not meet the new capital base, the President recently announced a move to protect local banks to avoid handing over the banking industry to foreigners without knowing it even though he failed to make it clear if indigenous banks will get a different capital base while in the same market.
Still on Access Bank Ghana, the Board Chairman, Frank Beecham has already expressed confidence in Njoku’s pedigree and leadership dexterity to drive the bank’s strategic objective, having worked with him over the past year.
He also thanked Mr. Ogundimu for his many years of selfless leadership in moving the Access Bank franchise forward.
Additional details from the bank revealed however, that Ogundimu will be taking up a new role in the Access Bank Group as Regional Managing Director for African Subsidiaries.
Responding, Njoku expressed optimism about the future of the bank, saying Ghana is an important market within the Access Bank Group, saying “I believe that we have the right leadership, people and resources to enable us achieve our goal of becoming Africa’s gateway to the world.”
“I look forward to working closely with our regulators, shareholders, customers and employees in growing the bank’s business.”