The Chartered Institute of Bankers (CIB) Ghana has elected senior banking executive Dr. Ellen Ohene-Afoakwa as its new president, taking over at a time when the Institute is recording strong financial growth driven by rising demand for banking education and professional certification.
Dr. Ohene-Afoakwa, a Fellow of the Institute and Managing Executive for Corporate and Investment Banking at Absa Bank Ghana, was elected for a two-year term during the Institute’s Sixth Annual General Meeting held in Accra.
Her election comes as CIB Ghana reported a 33% increase in revenue to GH¢18.82 million for the 2025 financial year, alongside a 36% rise in operational surplus, reflecting growing investment by banking professionals and financial institutions in skills development and executive training.
The Institute’s performance suggests that professional certification and continuous learning are becoming increasingly important as Ghana’s financial sector responds to evolving regulation, digital transformation and changing customer expectations.
In her acceptance address, Dr. Ohene-Afoakwa said strengthening professional competence across the banking industry would remain a key priority during her tenure.
“I am fully honoured for the opportunity to serve as the president of this noble Institute,” she said.
“The mandate of CIB Ghana is to promote the study of banking and regulate the practice of the banking profession in the country.”
She said the new Governing Council would focus on education, skills development and staff welfare while promoting professionalism, ethical conduct, continuous learning and innovation across the banking industry.
Dr. Ohene-Afoakwa also pledged closer collaboration with regulators, financial institutions and other stakeholders to strengthen capacity building, enhance member value and mentor the next generation of banking professionals.
“We will continue to champion professionalism, ethical conduct, continuous learning and innovation firmly anchored in the values and ethics that define our calling,” she said.
She added that the Institute would continue to play an active role in shaping the future of Ghana’s financial services industry.
Professional Education Emerges as Growth Driver
The Institute’s financial results indicate that demand for banking education has become an increasingly important revenue stream.
Income from examination and student activities rose 174% to GH¢5.22 million, making it the fastest-growing business segment during the year.
Commercial training income increased by 86%, while revenue generated during the annual Bankers Week celebration climbed 158% to GH¢546,518.
Non-subscription income contributed GH¢13.77 million, accounting for 73% of total revenue, compared with subscription income of GH¢5.05 million.
The Institute also benefited from stronger returns on its property investments.
Rental income from its renovated auditorium increased 40% to GH¢1.2 million, while interest income more than doubled to GH¢776,731 following improved liquidity management.
Investment in Growth Supports Stronger Financial Position
Operating expenses rose 32% to GH¢17.33 million as the Institute increased investment in staff, examinations and professional development programmes.
Employment costs increased 27% to GH¢7.71 million following salary adjustments and staff bonus provisions.
Examination and student activity costs rose 63%, reflecting higher expenditure on Chartered Banker for Executive Leadership (CBEL) programmes and examination delivery.
Despite the higher costs and the write-off of an irrecoverable investment in Gold Coast Securities, CIB Ghana recorded an operational surplus of GH¢1.48 million, representing a 36% improvement over the previous year.
The Institute’s members’ fund also strengthened by 21% to GH¢8.52 million.
New Governing Council
Assisting Dr. Ohene-Afoakwa is Vice President Mr. Woelinam Dogbe, FCIB, Deputy Director-General of Investment and Development at the Social Security and National Insurance Trust (SSNIT).
Other members of the new Governing Council are Rosemond Amoo, FCIB; Doris Yaa Aggrey Ahiati, FCIB; and Daniel Arhin, ACIB.
The new leadership assumes office as Ghana’s banking industry continues to place greater emphasis on professional standards, governance and specialised skills to support innovation and long-term sector growth.
